How is the Halifax Real Estate market doing?
I have been getting a lot of questions about how the housing market is doing this year so I thought that I would elaborate on my post from March 26th. I have gotten some data from The Canadian Mortgage and Housing Coporation and will put it together for you.
Existing Home sales in Halifax took a beating in January but recovered somewhat in February. 537 total sales in the first two months of this year compared to 823 during the same period of 2008. In the Real Estate submarkets of Halifax only Bedford-Hammonds Plains and Halifax County East declined less then 20%.
The number of Halifax area Homes sold in this period may have decreased but there was nothing stopping their prices from increasing. The average MLS price of an existing home increased by 5% in Halifax. The average selling time for an existing home was 93 days.
The following tables are Halifax MLS stats broken down by area.
MLS Home Sales