Halifax (HRM) Residential Market Statistic Update For Week of January 21st-January 28th 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New or Back to Market Listings: 290 (274, 261, 252, 247) *447 Sold: 104 (68, 70, 53, 82) *67 Sale To Listing Ratio: 36% (25%, 27%, 21%, 43%) *15% Price Changes: 136 (136, 134, 133, 121) Listings that went conditional/pending: 135 (137, 96, 75, 100) *105 Expired/Cancelled/Withdrawn: 139 (128, 119, 706, 311) *216 Total Active Halifax/Dartmouth Inventory: 4,244 (4,228, 4,234, 4,195, 4,850) *4,349 Absorption Rate in weeks: 62 (62) *75 Single Family Home Stats Active Single Family Home: 2,752 (2,755, 2,771, 2,747, 3,144) *2,830 Average Single Family Home List Price: $249,117 ($261k, $296k, $340k, $303k) *$281k Average Single Family Home Selling Price: $240,543 ($252k, $282k, $321k, $290k) *$270k Single Family Home Sale to List Ratio This Week: 97% (97%, 94%, 95%, 96%) *96% Median Single Family Home List Price: $224,450 ($247k, $240k, $239k, $256k) Median Single Family Home Sold Price: $222,500 ($243k, $235k, $238k, $249k) Average Days on Market Single Family Home: 107 (137, 127, 151, 110) *109 Condo Stats Active Condos: 376 (361, 357, 349, 408) *410 Average Condo Listing Price: $236,441 ($231k, $257k, $310k, $219k) *$231k Average Condo Selling Price: $227,083 ($220k, $242k, $283k, $208k) *$221k Condo Sale to List Ratio This Week: 96% (95%, 94%, 91%, 95%%) *96% Median Condo List Price: $222,400 ($230k, $230k, $214k, $247k) Median Condo Sold Price: $217,400 ($215k, $225k, $202k, $237k) Average Days on Market Condos: 95 (110, 114, 209, 91) *134 Active Vacant Lots: 887 (886, 882, 872, 941) *848 MARKET RANT Just goes to show how quickly things can change! The overall inventory count is now over 100 less products on the market from last year at this time, and continues to carry the trend from last week. Buyer activity is way up from last year at this time too, reflected not only in sales, but offers as well. I guess you could take into account the snow storm we had at this time last year, but the inclement weather of 2016 (and there has been that) has not slowed buyers down one bit. There might be a few less expired and cancelled listings than last year, but the amount of new additions to the inventory are lower then the past few years and sales are much better too. Coinciding with the improved market, the average and median home prices are down across the board, which could indicate that maybe there is a price correction happening. Two things are clear at this point, first time home buyer products are igniting the current market condition, and products across the board have experienced some degree of correction. This correction may cut deeper then many sellers may think, as dropped tax assessed values have been issued to many properties in and around the city, giving potential buyers extra kindling when offering. Either way you slice it, things are looking up, even if temporary, and the activity that has happened to this point doesn't seem to be slowing. This may be the time many buyers will want to jump in the market, when they still hold the power over the market. Who knows how much longer it will last. WEEKLY ADOGTABLE At only 2 years young, Winnie, is on the hunt for a lifelong friend/family to call her own. Being a boxer mix, she is full of energy and is hoping to find a family able to provide a suitable outlet for it. She has many endearing qualities, but the top one would have to be her comical underbite! Winnie is seeking a home with children 16 years of age or older in it due to her lack of restraint when she gets excited. A home with no other pets would be ideal. This "cuddly companion" is available through the Dartmouth SPCA, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE. 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! VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful 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 "needle in a haystack"? 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. Newest Blog post HERE Halifax (HRM) Residential Market Statistic Update For Week of January 14th -January 21st 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New or Back to Market Listings: 274 (261, 252, 247, 197) *325 Sold: 68 (70, 53, 82, 84) *67 Sale To Listing Ratio: 25% (27%, 21%, 43%, 43%) *21% Price Changes: 136 (134, 133, 121, 118) Listings that went conditional/pending: 137 (96, 75, 100, 99) *87 Expired/Cancelled/Withdrawn: 128 (119, 706, 311, 154) *83 Total Active Halifax/Dartmouth Inventory: 4,228 (4,234, 4,195, 4,850, 4,850) *4,284 Absorption Rate in weeks: 62 () *73 Single Family Home Stats Active Single Family Home: 2,755 (2,771, 2,747, 3,144, 3,174) *2,785 Average Single Family Home List Price: $260,917 ($296k, $340k, $303k, $362k) *$281k Average Single Family Home Selling Price: $252,124 ($282k, $321k, $290k, $346k) *$272k Single Family Home Sale to List Ratio This Week: 97% (94%, 95%, 96%, 96%) *97% Median Single Family Home List Price: $247,200 ($240k, $239k, $256k, $278k) Median Single Family Home Sold Price: $243,000 ($235k, $238k, $249k, $276k) Average Days on Market Single Family Home: 137 (127, 151, 110, 102) *125 Condo Stats Active Condos: 361 (357, 349, 408, 408) *393 Average Condo Listing Price: $231,325 ($257k, $310k, $219k, $219k) *$227k Average Condo Selling Price: $219,637 ($242k, $283k, $208k, $208k) *$216k Condo Sale to List Ratio This Week: 95% (94%, 91%, 95%, 95%) *95% Median Condo List Price: $229,450 ($230k, $214k, $247k, $247k) Median Condo Sold Price: $215,000 ($225k, $202k, $237k, $237k) Average Days on Market Condos: 110 (114, 209, 91, 91) *112 Active Vacant Lots: 886 (882, 872, 941, 1,036) *844 MARKET RANT We did it!!! After several years of increasing inventory that we thought would never stop, all areas of stock have finally reported below the previous year at the current time. As previously mentioned, condo inventory started the trend mid 2015, but the overall and single family home numbers stubbornly, and consistently, reported higher...up until now. The recent shift to lower listing additions and increased buyer activity have certainly aided this event, and that buyer activity does not seem to be slowing at the moment with an unusually high count of accepted offers this week (137 properties changed to pending after accepting an offer). Average prices across the board were down this week as first time home buyer products continue to lead the charge in sales, and the absorption rate is a staggering 10 weeks lower then last years report. Hopefully, this is the date to mark down in your calendars as the turning point for our market in Halifax, and I for one will be interested to see if this trend carries. Thanks for stopping by! Don't miss the 2015 annual wrap up! Simply scroll down to check out how the year placed overall. . WEEKLY ADOGTABLE Sully is a 7 month old terrier mix searching for his new home! He is a fun boy who is FULL of energy and with that being said, obedience training is mandatory for this guy as he's still learning proper manners. Sully has not been tested with dogs as of this moment, but given his young age he could be adjustable depending on the dog. He would be okay in a home with children, although we are recommending over 10 since he can be jumpy and mouthy during playtime. If you're interested in meeting this sweet boy, come on by today! This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE. 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! VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful 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 "needle in a haystack"? 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. Newest Blog post HERE Halifax (HRM) Residential Market Statistic Update For Week of January 7th -January 14th 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New or Back to Market Listings: 261 (252, 247, 197, 232) *363 Sold: 70 (53, 82, 84, 116) *60 Sale To Listing Ratio: 27% (21%, 43%, 43%, 50%) *17% Price Changes: 134 (133, 121, 118, 166) Listings that went conditional/pending: 96 (75, 100, 99, 99) *64 Expired/Cancelled/Withdrawn: 119 (706, 311, 154, 525) *92 Total Active Halifax/Dartmouth Inventory: 4,234 (4,195, 4,850, 4,850, 4,893) *4,212 Absorption Rate in weeks: (45, 45, 44, 50) 68 Single Family Home Stats Active Single Family Home: 2,771 (2,747, 3,144, 3,174, 3,427) *2,737 Average Single Family Home List Price: $294,567 ($340k, $303k, $362k, $344k) *$319k Average Single Family Home Selling Price: $281,642 ($321k, $290k, $346k, $327k) *$305k Single Family Home Sale to List Ratio This Week: 94% (95%, 96%, 96%, 95%) *96% Median Single Family Home List Price: $239,900 ($239k, $256k, $278k, $290k) Median Single Family Home Sold Price: $235,300 ($238k, $249k, $276k, $283k) Average Days on Market Single Family Home: 127 (151, 110, 102, 105) *144 Condo Stats Active Condos: 357 (349, 408, 408, 418) *384 Average Condo Listing Price: $256,878 ($310k, $219k, $219k, $350k) *$241k Average Condo Selling Price: $242,374 ($283k, $208k, $208k, $326k) *$232k Condo Sale to List Ratio This Week: 94% (91%, 95%, 95%, 93%) *96% Median Condo List Price: $229,900 ($214k, $247k, $247k, $245k) Median Condo Sold Price: $224,900 ($202k, $237k, $237k, $232k) Average Days on Market Condos: 114 (209, 91, 91, 150) *145 Active Vacant Lots: 882 (872, 941, 1,036, 1,035) *835 MARKET RANT 2016 is starting off on the right foot! Looks like we have carried positive momentum from the end on 2015 into the beginning of the year with some solid activity. With a decent sales showing and less then average new listing additions, we continue to chip away at the inflated inventory pile as we witnessed the overall level sink that much further. Even with the weather not completely cooperating, activity remains steady with over 30 more accepted offers this week compared to the same time last year. Average days on market for both products shrunk a bit as well, but that's still a stat reporting poorly regardless of the slight improvement, with just over/under 4 months of exposure on the market respectively. Values remain steady and both products reported a bit lower then average with their sales to list ratios, which means some heavy negotiations could have influenced those numbers. Overall though, a great start to the year, and I anticipate at this continued rate we should report on par, or better, then 2015 in the next couple of weeks. Getting the inventory below the last few years would be a benchmark to note, in hopes of igniting the market. In any case, 2016 is off to the races! Don't miss the 2015 annual wrap up! Simply scroll down to check out how the year placed overall. WEEKLY ADOGTABLE Meet Shelby! She is a 5 yr old American Bulldog mix. She is currently in search of her furever home. Miss Shelby is a fun and playful lady who would be better suited in a home with Adults Only and no other pets. She bonds very well with most people, but would prefer a home with infrequent visitors. Despite her short and stout stature this girl is a power house on the leash so to find a home with someone willing to put in some time with training her how to walk more "lady like" on the leash would be great. If you feel you can give this girl the home of her dreams please stop by the shelter at 5 scarfe court to meet this marshmallow. This "cuddly companion" is available through the Nova Scotia SPCA, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE. 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! VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful 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 "needle in a haystack"? 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. Newest Blog post HERE As far as predictability goes, 2015 was not a year that saw crazy highs and lows, nor any shocking surprises. Alternatively, the market year seemed rather ho-hum, as we witnessed what turned out to be slight gains (for the most part) in most sections of the market, but positivity if you looked closer. Average sale prices were no exception. Peaking in June at $289k, the majority of the year placed better than all other years, with average gains of 2 and 3 percent (respectively). The average residential sale price across the board was just over the $280k mark, however, the median selling price over the year was just over $252k, which is a fairly large gap. In my mind, this was caused by the abundant transactions of entry level homes and their selling popularity, while the occasional high end product may have skewed the overall averages. Here's another stat that I'm sure most of us were hoping wold change directions in 2015, however, it didn't... Starting off the year on a positive note, residential inventory started slow then jumped to an all time peak just under the halfway point of the market year. Hitting the all time peak in August at just over 3500 listings, 2015 was no stranger to the continued record smashing trend. Compared to just 3 years ago at the peak time, 2015 reported 1300 more active listings sitting on the market. Which is kind of a big deal since we only have around 5000 listings, on average, active for all residential products at one time, This is a 26% inventory gain in that short timespan, nothing shy of remarkable really, especially for the "slow and steady" Halifax market. We did see a few interesting things in 2015 regarding the inventory however. Even though the overall picture is seemingly unchanged. Around the midpoint of the market year, active condo's inventory levels dipped below that of the previous year and continued to do so for the remainder of the year. Although the single family home inventory was setting record heights each month in 2015, as we edged closer to the end of the year, 2014/15 numbers narrowed to within double digits of each other. Now here's the unpredictable and always interesting report...sales! As most people are already aware, we are having a somewhat difficult time moving residential products here in Halifax. No doubt we have been sat in a buyers market over the past few years, but there is signs that things are starting to improve. Call it the worst winter in years or the worst market in years, but the two seemed to coincide. no doubt, it was probably a challenge to trudge around in 3ft of snow looking at properties which most likely kept the majority of casual property buyers indoors for the first quarter of the season, however, as the season and weather improved (late), 2015 entered the sales race at the midpoint of June and kicked into high gear. From there, we witnessed the fall into annual trend, but the last quarter of the year showed some real solid numbers. So the start of the year looked pretty average, but as 2015 progressed, things started to look, well...better. Higher than average inventory reductions, decent sales numbers and activity have turned what appeared to be "yet another down year" into a hopeful start to 2016. Stay tuned to the blog to stay on top of the Halifax real estate market! 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! VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful 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 "needle in a haystack"? 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. Newest Blog post HERE Halifax (HRM) Residential Market Statistic Update For Week of January 1st -January 7th 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New or Back to Market Listings: 252 (247, 197, 232, 241) *364 Sold: 53 (82, 84, 116, 102) *38 Sale To Listing Ratio: 21% (43%, 43%, 50%, 42%) *10% Price Changes: 133 (121, 118, 166, 214) Listings that went conditional/pending: 75 (100, 99, 99, 109) *64 Expired/Cancelled/Withdrawn: 706 (311, 154, 525, 185) *101 Total Active Halifax/Dartmouth Inventory: 4,195 (4,850, 4,850, 4,893, 5,235) *4,117 Absorption Rate in weeks: (45, 45, 44, 50) 70 Single Family Home Stats Active Single Family Home: 2,747 (3,144, 3,174, 3,427, 3,472) *2,679 Average Single Family Home List Price: $339,737 ($303k, $362k, $344k, $291k) *$299k Average Single Family Home Selling Price: $321,178 ($290k, $346k, $327k, $279k) *$287k Single Family Home Sale to List Ratio This Week: 95% (96%, 96%, 95%, 96%) *96% Median Single Family Home List Price: $239,000 ($256k, $278k, $290k, $275k) Median Single Family Home Sold Price: $238,000 ($249k, $276k, $283k, $263k) Average Days on Market Single Family Home: 151 (110, 102, 105, 104) *115 Condo Stats Active Condos: 349 (408, 408, 418, 432) *377 Average Condo Listing Price: $309,587 ($219k, $219k, $350k, $270k) *$239k Average Condo Selling Price: $283,037 ($208k, $208k, $326k, $260k) *$230k Condo Sale to List Ratio This Week: 91% (95%, 95%, 93%, 96%) *96% Median Condo List Price: $213,900 ($247k, $247k, $245k, $209k) Median Condo Sold Price: $202,000 ($237k, $237k, $232k, $200k) Average Days on Market Condos: 209 (91, 91, 150, 91) *122 Active Vacant Lots: 872 (941, 1,036, 1,035, 1,071) *809 MARKET RANT Happy New Year everyone, and welcome back! As anticipated, this week will still show general market inconstancies due to the holiday season, for instance, sales reported a mere 53 on the week which is actually 15 more than last year if you can believe it. Speaking of last year, the stats continue to narrow, and we are actually kicking off the year on a positive note. For the first time in a long time, we are within double digits of overall and single family home inventory levels, and condo inventory continues to report lower and lower. Values are a bit out of whack the week, but the low number of sales has caused some fluctuation across the board. I would focus on the median home prices to get an idea of whats selling, to me, it seems like entry level products are the holiday flavour. Exciting start to the new year, and I know there are more than a few people with fingers crossed that 2016 will usher in a rebound for the Halifax real estate market, you'll have to stay tuned to find out! Be sure to stop by for the 2015 year end wrap up, which will be posted soon! WEEKLY ADOGTABLE Merlin is a sweet boy looking for an active home! He is around 11 months old and weighs 51 pounds. Merlin is super friendly with everyone he meets! He enjoys playing with his toys and receiving affection. Merlin would like to go to obedience classes upon adoption so he can learn basic manners and some new tricks! Merlin would like a home with no cats, and will need some more socialization before he is comfortable being around other dogs. He is a very smart boy who likes to work and will learn quick! This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE. 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! VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful 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 "needle in a haystack"? 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. 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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