Halifax Real Estate: Average Days On the Market
Days on the Market (DOM) Statistics:
Ever wonder how long it actually takes to sell a home in HRM? The following is the Days On the Market (DOM) information for Re/Max Nova in HRM for 2011 up to the end of August. The report was generated from office listing data obtained from the Scotia Association of REALTORS® . The average days on the market statistics include single family dwellings, condos, mobile and duplexes. They do not include statistical data on lots, vacant land, or cottages.
2011 Average Days On the Market for properties in HRM: 90 days
2011 Average DOM for Re/Max Nova properties in HRM: 76 days
Two weeks may not seem like a significant amount of time to most of us, but when you have a house a sell, and you need to sell it before you can move on to your next home, two weeks can relieve a lot of pressure for a seller.
In some of the segments of the market place, we’re (Re/Max Nova) actually doing better than an average 76 day sell time. Check out our market average sell times in the below mentioned geographic areas.
Area 1: Halifax Central
Re/Max Nova DOM: 20 days(based on 2 Re/Max Nova listings listed and sold in 2011)
Area 3: Halifax North
Re/Max Nova DOM: 63 days(9 sales)
Area 4: Halifax East
Re/Max Nova DOM: 47 days(12 sales)
Area 5: Fairmount, Clayton Park, Rockingham
Re/Max Nova DOM: 69 days /(35 sales)
Area 6: Fairview
Re/Max Nova DOM: 70 days (9 sales)
Area 10: Dartmouth downtown to Burnside
Re/Max Nova DOM: 55 days (16 sales)
Area 12: Southdale, Manor Park
Re/Max Nova DOM: 45 days (20 sales)
Area 13: Creighton Park, Albro Lake
Re/Max Nova DOM: 72 days (22 sales)
Area 14: Dartmouth, Montebello, Port Wallis, Keystone
Re/Max Nova DOM: 39 days (26 sales)
Area 16: Colby Area
Re/Max Nova DOM: 55 days (50 sales)
Area 17: Woodlawn, Portland Estates, Nantucket
Re/Max Nova DOM: 66 days (85 sales)
Area 25: Sackville
Re/Max Nova DOM: 52 days (71 sales)
Area 26: Beaverbank, Upper Sackville
Re/Max Nova DOM: 74 days (36 sales)
Area 30: Waverley, Fall River, Oakfield
Re/Max Nova DOM: 81 Days (24 sales)
While these statistics are quite encouraging, we remind sellers that everything in real estate is a function of time and price. So, if you price out of the reach of the market place, be prepared to wait significantly longer than the market averages, especially right now where properties are being listed at a ratio of 3 to 1 over what is selling.