Halifax new home starts up 37 per cent

September 3, 2017



Housing starts in Halifax surged 37.4 per cent through the first half of 2017 compared to a year earlier, to 1,290 units, but sales of existing homes increased by just 2 per cent in the Nova Scotia capital and have slowed recently.
According to the Canadian Real Estate Association, the number of home sales in Halifax-Dartmouth plunged 21.5 per cent in July compared to a month earlier, but the total dollar value of those sales rose by 4.1 per cent.
The average resale home price in Halifax-Dartmouth is $290,008, reports the Halifax Partnership. This is up about 2 per cent from a year ago.
Housing starts this year have been composed of 289 single-detached houses and 917 multi-family apartment units.
Local real estate agents say the current “hot spot” for housing sales is the Halifax Peninsula, for both condominiums and single-detached houses.
It takes an average of about 90 days for a resale home to sell in the current market, local agents say.