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It’s that time of year again! Get your RP swag today. Contact one of our sales group members today

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Over half of all first time home buyers stayed in the same area where they were renting. More than three quarters of all first time home buyers purchased a single family detached home. For tips on buying right the first time, contact your local real estate agent.

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While that figure’s not surprising, it’s important to note that in a seller’s market, what’s online right now may not be there tomorrow. In fact, the information on many listings may be out of date the instant they’re posted. That’s where your real estate agent comes in. Your agent can get updates and information as it’s happening- before it shows up on the web.

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The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources.  You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion.  Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind.  All information presented herein is intended and should be used for educational purposes only.  Nothing herein should be construed as investment advice.  You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.  All investments involve some degree of risk.  Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate. 

A VIDEO

Have you been watching your weekly kw | Technology emails? If you have, then you’d know that the kw | Technology team has been leaking clues to a VERY BIG announcement!

This week at the KW MAPS Coaching Mastermind in Las Vegas, Cary Sylvester, Executive Director of Product Strategy and Jason Tang, Executive Director of Technology, unveiled the official release date for your mobile app.

Our mantra stands firm, “YOUR app, YOUR leads.” And on May 29, 2013 you will haveyour own mobile app with your brand and contact information. Watch the live iPad demo of your Keller Williams Realty Real Estate Search app.
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Current Halifax Market Report

Halifax Real Estate Market Update – 1st Quarter 2013

Halifax Real Estate Market Update - 1st Quarter 2013.  The numbers below are based on MLS® statistics for areas 1-40 which encompass all of HRM.

Residential*

1st Qtr 2013

Average Sale Price – $289,776

Number of Sales – 858

% vs 2012(price) –  +2.6%

% vs 2012(sales) –  -34%

Average Days on Market – 94

Active Listings – 2812

Absorption Rate*** – 39 weeks

Type of Market – buyers

Synopsis

The 1st quarter in the Halifax real estate market saw a huge decrease in the number of sales(34%).  This can be attributed to the speculation of the governments shipbuilding announcement last year which caused a significant uptick in the first quarter of 2012. The tightening of the mortgage rules also caused a decrease in sales.   Prices continued increase at a steady  pace of 2.6%.

Multi-Family**

1st Qtr 2013

Average Price – $426,572

Number of Sales – 22

% vs 2012(price) –  +26%

% vs 2012(sales) –   -31%

Average Days on Market – 84

Active Listings – 66

Absorption Rate*** – 31 weeks

Type of Market – buyers

Synopsis

Multi-Family

Multi-Family homes saw a significant price increase in the first quarter increasing by 26%.  As was the case with single family residential sales were down substantially(31%).

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* Includes single family homes and condominiums

** Includes multi- family homes 2-12 units

***Absorption Rate – The rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the total number of available homes by the average number of sales per week. The figure shows how many weeks it will take to exhaust the supply of homes on the market. A high absorption rate may indicate that the supply of available homes will shrink rapidly, increasing the odds that a homeowner will sell a piece of property in a shorter period of time.

Buyer’s Market: Over 25 weeks of supply
Balanced/Transitional Market:  22-26 weeks of supply
Seller’s Market: Less than 22 weeks of supply

If you would like more information on the Halifax Real Estate market we can be easily reached by email info@realtypartner.ca or by phone 902-877-1787.

Kind Regards,

The Realty Partners

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A great market update for Canada. Overall, our numbers are a little bit different here in Halifax. And now, our top story. In the last several years, most areas have been in a buyer’s market. However, with inventory at the lowest supply since 2005, chances are most of us are now in a seller’s market. … so what does this mean to you?

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According to KW research almost half of sellers who price their house according to their real estate agents’ interpretation of its market value sold almost twice as fast and for more money than the competition. 
If you’re selling your house, the idea of pricing high to test the waters might sound appealing. But if your house is priced too high, you may be highlighting for buyers what a steal the house down the street is.