MLS® sales in Metro Halifax reached record levels in 2007 with 6,942 sales – an increase of 11.4 per cent compared to 2006. Dartmouth City recorded the most sales in 2007 with 1,737 compared to 1,607 in 2006. Almost all areas of Metro recorded double digit growth in number of sales with the exceptions being Dartmouth City and Sackville at 8.1 and 6.5 per cent respectively. The only area in Metro to see a decline in the number of sales was Halifax County East, which saw a decline of 2.7 per cent.

Prices in the existing home market continue to climb as well, rising by almost seven per cent to $215,645 from $201,747 in 2006. The area with the highest average resale price continues to be Bedford – Hammonds Plains at $274,393 while the area with the most rapidly rising prices continues to be Halifax County East. The average sale price in Halifax County East rose by 21.3 per cent in 2007 reaching $179,294.

It took a little longer to sell a home in Halifax in 2007 compared to 2006 as the average days on market increased by 5 days to 89. Sackville had the quickest turnaround on home sales averaging only 67 days compared to Halifax County East where the average time to sell is 110 days.

Article appeared in Housing Now-Halifax CMA
Canada Mortgage and Housing Corporation Housing Market Information
Date Released: January 2008

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