Halifax (HRM) Residential Market Statistic Update For Week of January 22nd - January 29th 2015 (Previous weeks numbers in brackets) *Previous Year's Stats New Listings: 447 (325, 363, 364, 208) *341 Sold: 67 (67, 60, 38, 70) *76 Sale To Listing Ratio: 15% (21%, 17%, 10%, 34%) *22% Listings that went conditional/pending: 105 (87, 64, 64, 67) *88 Expired/Cancelled/Withdrawn: 216 (83, 92, 101, 210) *90 Total Active Halifax/Dartmouth Inventory: 4,349 (4,284, 4,212, 4,117, 4,573) *4,499 Active Single Family Home: 2,830 (2,785, 2,737, 2,679, 2,928) $2,869 Average Single Family Home List Price: $280,953 ($281k, $318k, $299k, $300k) $305k Average Single Family Home Selling Price: $270,148 ($272k, $305k, $286, $292) $287k *Single Family Home Sale to List Ratio This Week: 96% (97%, 96%, 96%, 97%) Average Days on Market Single Family Home: 109 (125, 144, 115, 122) *106 Active Condos: 410 (393, 384, 377, 421) *438 Average Condo Listing Price: $230,449 ($227k, $241k, $239, $240k) *$243k Average Condo Selling Price: $220,850 ($216k, $232k, $230k, $232k) *$230k *Condo Sale to List Ratio This Week: 96% (95%, 96%, 96%, 96%) Average Days on Market Condos: 134 (112, 145, 122, 134) *104 Absorption Rate in weeks: 75 (73, 68, 70, 52) *52 Active Vacant Lots: 848 (844, 835, 809, 941) MARKET RANT Well that didn't take too long! Not far behind the recent Irving shipbuilding news is apparent spike in activity this week. Whether they are directly connected may just be a coincidence...or is it? It would appear that we may have had the end/beginning of month inventory flip over sooner than usual, that, or a plethora of winter contracts had expired (see the unusually high expired pile) this week. Either way you slice it, the inventory took a steep climb this week to close the gap from last year's reports. If it keeps up like this in for just a couple more weeks, we may be back to square one and well on our way back to the basement. One positive note is the number of listings that reported conditional this week. If 85-90% of those actually firm up, we will have a strong enough showing to keep the listings flooding onto the market at bay. There may a few antsy sellers looking to sprint to the market for their chance at a quick sale, but those who walk back may find better results. For now, though, we can at least say that January should report better than last year, and you will have to tune in next week to the blog for the January wrap up to find out just how much! ![]() WEEKLY ADOGTABLE Dean is a 3 year old AmStaff looking for an adult-only home. This compact rednose LOVES attention and absolutely loves hugs! He knows some basic commands when motivated with treats, but would not make a good off-leash dog. Dean loves to play fetch, he thinks chasing toys is super fun! He is even starting to learn to drop the toy on demand. He doesn't tend to bark, is not a chewer, and is very calm and relaxed in the home. Dean will need an experienced owner as he does not know how to act like a gentleman around other dogs; he can be reactive from afar, and even though he can do well face-to-face, he was dominant and pushy with our little beagle test dog. We say no children as Dean can be very mouthy when over-stimulated. He does well with calm children, but should not be around children who are running around and acting excited unless properly supervised by an adult. No cats for this boy please! Dean is here, anxiously waiting for his new family to take him home. Stop by and meet this handsome man today! This "dashing duke" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE. ![]() VIEWPOINT REALTY Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, real estate map? Its a great tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! Looking for a little extra help finding that hay needle? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process. LET ME HELP YOU OUT Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your property transaction and get the most advanced real estate system working for you. Feel free to contact me with questions or comments. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by! Newest Blog post HERE Halifax (HRM) Residential Market Statistic Update For Week of January 15th - January 22nd 2015 (Previous weeks numbers in brackets) *Previous Year's Stats New Listings: 325 (363, 364, 208, 232) *345 Sold: 67 (60, 38, 70, 81) *55 Sale To Listing Ratio: 21% (17%, 10%, 34%, 35%) *16% Listings that went conditional/pending: 87 (64, 64, 67, 85) Expired/Cancelled/Withdrawn: 83 (92, 101, 210, 150) *89 Total Active Halifax/Dartmouth Inventory: 4,284 (4,212, 4,117, 4,573, 4,749) *4,411 Active Single Family Home: 2,785 (2,737, 2,679, 2,928, 3,037) $2,828 Average Single Family Home List Price: $281,410 ($318k, $299k, $300k, $283k) $262k Average Single Family Home Selling Price: $272,239 ($305k, $286, $292, $270k) $246k *Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 97%, 96%) Average Days on Market Single Family Home: 125 (144, 115, 122, 162) *125 Active Condos: 393 (384, 377, 421, 442) *436 Average Condo Listing Price: $227,236 ($241k, $239, $240k, $247k) *$267k Average Condo Selling Price: $216,481 ($232k, $230k, $232k, $235k) *$262k *Condo Sale to List Ratio This Week: 95% (96%, 96%, 96%, 95%) Average Days on Market Condos: 112 (145, 122, 134, 153) *126 Absorption Rate in weeks: 73 (68, 70, 52, 51) Active Vacant Lots: 844 (835, 809, 941, 973) MARKET RANT Positive market momentum carries on this week, as news heats up regarding the Irving Ship contracts. Although the two are not directly linked, one can only think that the agreement (finally) will have a positive impact on our market here in Halifax. The further news that Irving will not only build the ships, but also serve as the prime contractor, will surely have some investor tongues wagging. So, the shipyard will start with the first six vessels, projected to start in the fall, and will employ approximately 2,400 workers at the peak of construction. With that kind of worker demand, it will no doubt impact all products of the real estate market as the company reaches out to fill the numerous positions. Until then, we can keep an eye on our apparently improving market, and hope that the trend sticks around for the long haul! ![]() WEEKLY ADOGTABLE Luna is a 3 year old fun-loving, friendly, compact 66lb, wiggly butt AmStaff looking for a home with a breed experienced family. She LOVES people and loves to play, but can play a bit rough with her toys, as well as with jumping and mouthing; because of this, a home with children over the age of 10 would be ideal. No dogs for Luna! Luna has anxiety around other dogs so she needs a strong leader willing to work with her and show her dogs are nothing to be afraid of. Luna does well in her run and tested well in the crate; she is fairly quiet, calming down quickly, and she appears to be house trained too! Daily exercise will be essential for Luna to be a happy girl; whoever is interested in taking this beauty home will have to enrol her in obedience classes, so stop by and meet her today! This "lovely lady" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE. VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, real estate map? Its a great tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! Looking for a little extra help finding that hay needle? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process. LET ME HELP YOU OUT Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your property transaction and get the most advanced real estate system working for you. Feel free to contact me with questions or comments. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by! Newest Blog post HERE Halifax (HRM) Residential Market Statistic Update For Week of January 8th - January 15th 2015 (Previous weeks numbers in brackets) *Previous Year's Stats New Listings: 363 (364, 208, 232, 273) *389 Sold: 60 (38, 70, 81, 90) *51 Sale To Listing Ratio: 17% (10%, 34%, 35%, 33%) *13% Listings that went conditional/pending: 64 (64, 67, 85, 90) Expired/Cancelled/Withdrawn: 92 (101, 210, 150, 340) *114 Total Active Halifax/Dartmouth Inventory: 4,212 (4,117, 4,573, 4,749, 4,840) *4,347 Active Single Family Home: 2,737 (2,679, 2,928, 3,037, 3,117) $2,800 Average Single Family Home List Price: $317,843 ($299, $300k, $283k, $273k) $286 Average Single Family Home Selling Price: $304,541 ($286, $292, $270k, $283k) $280 *Single Family Home Sale to List Ratio This Week: 96% (96%, 97%, 96%, 96%) Average Days on Market Single Family Home: 144 (115, 122, 162, 118) *113 Active Condos: 384 (377, 421, 442, 440) *415 Average Condo Listing Price: $240,737 ($239, $240k, $247k, $261k) *$246k Average Condo Selling Price: $231,525 ($230k, $232k, $235k, $253k) *$241k *Condo Sale to List Ratio This Week: 96% (96%, 96%, 95%, 97%) Average Days on Market Condos: 145 (122, 134, 153, 175) *107 Absorption Rate in weeks: 68 (70, 52, 51, 60) *75 Active Vacant Lots: 835 (809, 941, 973, 983) MARKET RANT Look like another week in the right direction! New listing additions are on par with last week, which isn't the norm for this time of year. The trend right around now is for listings from last year, and some new additions, to start pouring back onto the market. This week stayed relatively the same, and reported again, lower than last week. Sales last week came in just above last years totals, with nine more units of change. Values are up in the two tracked products, however, days on market spiked from the previous week, and reported higher than the year before as well. Because of the positive activity this week, we witnessed a reduction in the absorption rate, which is not typical for this time of year. So more positive momentum as we hit the mid marker for January, with stats going in the right direction. Make sure to stay tuned to the blog to keep a pulse on our ever changing market! ![]() WEEKLY ADOGTABLE Hello, I'm Rudy! I am a big, goofy boy looking for a loving home. I like being around people and love affection! I love to sit as close as possible to people to receive all the attention I can. I weigh about 80 pounds and still have more growing to do so I'll need a home that is suitable for an extra large dog like me! I have some resource guarding, I don't like to share my food, and will need a home with no young children (under 12 years old). Obedience classes are mandatory upon my adoption to help me learn proper manners and gain confidence. I met another dog here and just didn't know what to do, I wanted to play but was too afraid. I am going to require more socialization before I can comfortably be around other dogs. I was nervous of the cats too, so an only animal home would make me the happiest. I am a very loving dog who has the potential to make someone a wonderful friend. This "punky pal" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE. VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, real estate map? Its a great tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! Looking for a little extra help finding that hay needle? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process. LET ME HELP YOU OUT Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your property transaction and get the most advanced real estate system working for you. Feel free to contact me with questions or comments. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by! Newest Blog post HERE Halifax (HRM) Residential Market Statistic Update For Week of January 1st - January 8th 2015 (Previous weeks numbers in brackets) *Previous Year's Stats New Listings: 364 (208, 232, 273, 252) *378 Sold: 38 (70, 81, 90, 110) *49 Sale To Listing Ratio: 10% (34%, 35%, 33%, 44%) *13% Listings that went conditional/pending: 64 (67, 85, 90, 85) Expired/Cancelled/Withdrawn: 101 (210, 150, 340, 133) *82 Total Active Halifax/Dartmouth Inventory: 4,117 (4,573, 4,749, 4,840, 5,074) *4,238 Active Single Family Home: 2,679 (2,928, 3,037, 3,117, 3,292) $2,729 Average Single Family Home List Price: $299,113 ($300k, $283k, $273k, $294k) $287 Average Single Family Home Selling Price: $286,627 ($292, $270k, $283k, $257k) $267 *Single Family Home Sale to List Ratio This Week: 96% (97%, 96%, 96%, 96%) Average Days on Market Single Family Home: 115 (122, 162, 118, 116) *179 Active Condos: 377 (421, 442, 440, 458) *390 Average Condo Listing Price: $239,283 ($240k, $247k, $261k, $250k) *$248 Average Condo Selling Price: $230,176 ($232k, $235k, $253k, $241k) *$237 *Condo Sale to List Ratio This Week: 96% (96%, 95%, 97%, 96%) Average Days on Market Condos: 122 (134, 153, 175, 126) *135 Absorption Rate in weeks: 70 (52, 51, 60, 51) *62 Active Vacant Lots: 809 (941, 973, 983, 1,007) MARKET RANT Starting the year on somewhat of a good foot! Compared to last year, all of the important areas of the market are reporting in a positive manner as new listings are down, inventory is down across the board, and average days on market are getting shorter. There will be some skewed numbers this week however, as starting the new year usually needs a bit of room launching off the ground, and a gentle "wake up" nudge to get going. As the Christmas holidays fade from the rear view, home sellers and buyers look forward, to see what lay in wait and to start their plan of attack. Market activity has picked up already in the new year, and inquiries and interest can be felt among the agencies here in HRM. Hopefully a solid jump to the year will spark just the activity that we have been needing for so long, or maybe, things are coming close enough to a turn around point for investors to start taking action. Either way, this renewed vigour is a welcome site! ![]() WEEKLY ADOGTABLE Ariel is a 2 year old AmStaff looking for a home with a breed experienced family. She LOVES people and loves to play but she can be a bit rough with jumping and mouthing; because of this, a home with children over the age of 10 would be ideal. No cats or dogs for Ariel; she likes to be the queen of her castle! Socialization training wouldn't be a bad idea. Ariel does well in her run and tested well in the crate; she is fairly quiet, calming down quickly, and she appears to be house trained too! Daily exercise will be essential for Ariel to be a happy girl. Ariel LOVES to practice her obedience, it's recommended that her new owners must enrol her in one on one obedience classes. Stop by and meet this beautiful girl today! This "spunky sis" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE. ![]() VIEWPOINT REALTY Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! Looking for a little extra help finding that hay needle? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying process. LET ME HELP YOU OUT Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to contact me with questions or comments. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by! Newest Blog post HERE ![]() Since the beginning of the year, the average selling price of property in the HRM was shaky at best. Throughout most the year, values dipped below the regular annual gain, and below previous years heights. Since September, values have remained below those of 2013, which could be indicate the natural market reaction of a price correction given our conditions over the last few years. ![]() Inventory should be no secret or surprise to anyone, it was high...really high. Records where smashed again last year because of this statistic, which remained above average for the majority of the year. On a positive note, inventory plummeted in the last month of the year, and ended up reporting below 2013's numbers which may give sellers a fighting chance in the new year, if the current trend holds. ![]() Where to begin with sales. Again, no real surprises here (unless this is the first time reading the blog), and improvement by means of active buyers seems to be just a hope for the new year at this point. For the majority of the year, sales numbers have tanked lower than eight years ago in some months, and on average, reported below the previous five years showings more than 50% of the time. That's not an impressive marker to have leading into what is rumoured to be a "turn-around" year for Halifax. Things could change however, and when they do, it can happen relatively fast. So with 2014 in the books, we will have to take the good with the bad and persevere into the new year with renewed optimism. Property values are on the way down, as well as inventory, so with an injection or market bump we may yet see a recovery in 2015. Irving has edged closer to ramping up the government contract, with boasts of a start as early as September 2015. From a property prospective, that would mean the hiring process and the relocation of individuals to carry out the work should begin much sooner. Couple that with speculation of a mortgage interest rate hike, and it might be the motivation buyers need to finally commit to making that property decision. Either way, 2015 should prove to be another interesting year to say the least and I, for one, am looking forward to seeing how it all plays out. Make sure to stay tuned to the blog to track the market in the new year, and remember, I'm just a call or email away if you have any questions, or are looking to get rolling with your property plan! VIEWPOINT REALTY Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! Looking for a little extra help finding that hay needle? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying process. LET ME HELP YOU OUT
Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to contact me with questions or comments. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by! Newest Blog post HERE |
Jeremiah Wallace, CDJeremiah has been involved with many aspects of the Real Estate industry for over fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products.. ListingsPhoto's by Jeremiah
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