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Yesterday, I commented on sales trends and statistics for Bedford and the Hammonds Plains area. Today the focus will be the Dartmouth area: Dartmouth, Cole Harbor and Eastern Passage. I will be focusing on single family detached homes and condominiums.

Key indicators for any Real Estate market are:

• Price Trends: the direction where housing prices are going.
• Absorption Rates: the number of weeks a house can be expected to remain on the market based on the previous months sales. This is a very strong indicator in determining if a current market is a “Buyer’s market” or a ”Seller’s market”.

Below are price and absorption rates for single detached homes:

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Single family housing prices in Dartmouth over the past 12 months had some areas that saw healthy price increases while others experienced very small price increases.

There is a mixed market right now: some areas are a slight Buyer’s market, there are those that favor the Seller slightly, and 3 balanced markets. The only exception is Eastern Passage and Woodside.  This area has slid into a Buyer’s dominated market. I expect the prices to soften favoring the Buyer.

Below are price and absorption rates for condos:

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For the most part, condos in Dartmouth over the past 12 months have been decreasing in price. The areas that demonstrated a price increase, may experience a slight decrease.

When I look at the trend, the areas that experienced decreased prices are actually in a Seller’s market. This could mean good news in that there is potential for home prices to increase. By contrast, those areas that have seen prices increase are in a Buyer’s market and I  expect prices drop a bit over the next couple of months.

As always, I can be contacted by e-mail: bruce@listhalifax.com or cell: 497-6865.

Cheers,

Bruce Annis, Halifax REALTOR®

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