Halifax (HRM) Residential Statistic Update for the Week of February 21st - February 28th, 2019 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 189 (218, 248, 250, 175) *325 Sold: 111 (129, 114, 119, 94) *129 Sale To Listing Ratio: 59% (59%, 46%, 48%, 54%) *40% Price Changes: 82 (81, 80, 103, 75) *125 Listings that went conditional/pending: 167 (135, 153, 133, 133) *164 Expired/Cancelled/Withdrawn: 54 (69, 75, 168, 98) *139 Total Active Halifax/Dartmouth Inventory: 3,075 (3,117, 3,096, 3,074, 3,091) +3,620 Absorption Rate in weeks: 26 (27, 30, 33, 38) *33 Single Family Home Stats Active Single Family Home: 1,629 (1,656, 1,657, 1,671, 1,648) *1,961 Average Single Family Home List Price: $334,205 ($313k,$331k,$324k,$237k) *$336k Average Single Family Home Selling Price: $325,928 ($303k,$324k,$315k,$349k) *$322k Single Family Home Sale to List Ratio This Week: 98% (97%, 98%, 97%, 98%) *96% Median Single Family Home List Price (6 mo): $289,900 ($286k,$290k,$289k,$289k)*$279k Median Single Family Home Sold Price (6 mo):$280,250 ($280k,$280k,$280k,$280k)*$270k Average Days on Market Single Family Home: 69 (79, 66, 76, 77) *73 Condo Stats Active Condos: 259 (261, 254, 242, 241) *366 Average Condo Listing Price: $229,009 ($266k, $293k, $307k, $231k) *$227k Average Condo Selling Price: $220,627 ($256k, $285k, $295k, $227k) *$221k Condo Sale to List Ratio This Week: 96% (96%, 97%, 96%, 98%) 97% Median Condo List Price (6 mo): $239,900 ($240k, $240k, $240k, $240k) *$239k Median Condo Sold Price (6 mo): $231,250 ($232k, $232k, $230k, $232k) *$232k Average Days on Market Condos: 93 (71, 60, 102, 120) *47 Active Vacant Lots: 911 (920, 918, 900, 942) *973 Market Rant Looks like we are heading in the opposite direction again. After two short weeks of marginal inventory gain, this weeks reduction pretty much erased what little increase there was. All tracked products reduced this week, with single family homes being the most significant. Could it be the lack of new products added this week, the relentless sales, the weather? Whatever it is, 2019 has started off on a very unusual note, with no clear indication that things are about to change back anytime soon. Speaking of unrelenting sales, it looks like another chunk of products are about to switch over to the sale pile according to the listings that went conditional/pending this week. So, despite the frosty blast of winter this week, the market here in Halifax remains red hot. Expired listings are down quite significantly this week compared to last year at this time as well, which comes as no surprise since things are flying off the shelves. Not even the Spring market and it has basically been performing like it since the beginning of the year. It will be interesting to see what the Spring market actually brings! Stay tuned to find out! Thanks for stopping by! The Weekly Adogtable!Dobby was found as a stray. He is tolerant with touching all over, is crate trained, and barks to greet you. He is excited with other dogs, but has a fearful disposition of strangers. Dobby is playful and affectionate once he gets to know you, but is anxious and fearful of new things. We often see this with dogs who need confidence boosts, which will be worked on while he is in our care. His new family will need to build his trust and confidence as well. Dobby pulls on his leash (a freedom harness will help with this) and is selective with toys. This "cuddly companion" is available through Marleys Hope, a non profit rescue organization from Halifax, Nova Scotia. More info about him and 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. Don't forget to bookmark my page, and visit often! 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. We also offer mortgage and insurance solutions too! 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 Statistic Update for the Week of February 14th - February 21st, 2019 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 218 (248, 250, 175, 193) *240 Sold: 129 (114, 119, 94, 92) *105 Sale To Listing Ratio: 59% (46%, 48%, 54%, 48%) *44% Price Changes: 81 (80, 103, 75, 61) *106 Listings that went conditional/pending: 135 (153, 133, 133, 120) *160 Expired/Cancelled/Withdrawn: 69 (75, 168, 98, 88) *69 Total Active Halifax/Dartmouth Inventory: 3,117 (3,096, 3,074, 3,091, 3,122) +3,606 Absorption Rate in weeks: 27 (30, 33, 38, X) *48 Single Family Home Stats Active Single Family Home: 1,656 (1,657, 1,671, 1,648, 1,670) *1,934 Average Single Family Home List Price: $313,098 ($331k,$324k,$237k,$330k) *$334k Average Single Family Home Selling Price: $303,327 ($324k,$315k,$349k,$297k) *$297k Single Family Home Sale to List Ratio This Week: 97% (98%, 97%, 98%, 90%) *96% Median Single Family Home List Price (6 mo): $285,450 ($290k,$289k,$289k,$285k)*$277k Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$270k)*$270k Average Days on Market Single Family Home: 79 (66, 76, 77, 65) *87 Condo Stats Active Condos: 261 (254, 242, 241, 246) *368 Average Condo Listing Price: $265,906 ($293k, $307k, $231k, $255k) *$250k Average Condo Selling Price: $255,753 ($285k, $295k, $227k, $241k) *$243k Condo Sale to List Ratio This Week: 96% (97%, 96%, 98%, 95%) 97% Median Condo List Price (6 mo): $239,900 ($240k, $240k, $240k, $240k) *$239k Median Condo Sold Price (6 mo): $232,000 ($232k, $230k, $232k, $230k) *$232k Average Days on Market Condos: 71 (60, 102, 120, 77) *69 Active Vacant Lots: 920 (918, 900, 942, 945) *981 Market Rant Another slight increase in the inventory, no thanks to the single family home product. Seems as though condo and vacant land increases helped slightly, but it's quite hard to get inventory gain with such a high performing sales market. One of the most impressive figures to watch week over week thus far is the absorption rate, which is plummeting at a record pace. From last year at this time to now, there is a five month slash to sell all products at this rate if the inventory stopped today. Currently, it would take just under seven months to sell off everything currently active on the market, where last year would have taken an entire year. That's a fairly substantial marker for such a small window, and it seems to be getting lower with each passing week. With the cooling of the weather and the white stuff making an appearance, it will be interesting to see if has a reciprocal effect on the market. I think there may be a small impact, but I don't think this train is stopping at the station any time soon. Stay tuned to the blog to find out how things shape up, and thanks for stopping by! The Weekly Adogtable!Chyna is as beautiful as they come. She is a lover who just wants to hang out with her humans and snuggle. She enjoys walking, carrying around her toys and eating treats. She loves to sit in front of the window and watch people go by. She is non-reactive with other dogs outside however should be an only pet and would benefit from socialization. The ideal home would be older children (12+) and someone who likes to cuddle. This "cuddly companion" is available through Marleys Hope, a non profit rescue organization from Halifax, Nova Scotia. More info about him and 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. Don't forget to bookmark my page, and visit often! 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. We also offer mortgage and insurance solutions too! 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 Statistic Update for the Week of February 7th - February 14th, 2019 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 248 (250, 175, 193, 220) *276 Sold: 114 (119, 94, 92, 72) *99 Sale To Listing Ratio: 46% (48%, 54%, 48%, 33%) *36% Price Changes: 80 (103, 75, 61, 90) *103 Listings that went conditional/pending: 153 (133, 133, 120, 122) *125 Expired/Cancelled/Withdrawn: 75 (168, 98, 88, 87) *88 Total Active Halifax/Dartmouth Inventory: 3,096 (3,074, 3,091, 3,122, 3,139) +3,605 Absorption Rate in weeks: 30 (33, 38, X, X) *34 Single Family Home Stats Active Single Family Home: 1,657 (1,671, 1,648, 1,670, 1,692) *1,932 Average Single Family Home List Price: $330,852 ($324k,$237k,$330k,$378k) *$304k Average Single Family Home Selling Price: $323,826 ($315k,$349k,$297k,$366k) *$297k Single Family Home Sale to List Ratio This Week: 98% (97%, 98%, 90%, 97%) *98% Median Single Family Home List Price (6 mo): $289,500 ($289k,$289k,$285k,$285k)*$275k Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$270k,$280k)*$268k Average Days on Market Single Family Home: 66 (76, 77, 65, 76) *110 Condo Stats Active Condos: 254 (242, 241, 246, 249) *365 Average Condo Listing Price: $293,018 ($307k, $231k, $255k, $285k) *$284k Average Condo Selling Price: $285,118 ($295k, $227k, $241k, $284k) *$276k Condo Sale to List Ratio This Week: 97% (96%, 98%, 95%, 99%) 97% Median Condo List Price (6 mo): $239,900 ($240k, $240k, $240k, $239k) *$238k Median Condo Sold Price (6 mo): $232,000 ($230k, $232k, $230k, $230k) *$230k Average Days on Market Condos: 60 (102, 120, 77, 114) *58 Active Vacant Lots: 918 (900, 942, 945, 936) *982 Market Rant Alright, we finally have inventory gain! Condo's had a good increase, so to did vacant lots, but the star of the show (single family homes) decreased yet again this week. Not the news current buyers of that product are likely wanting to read, but sellers on the other hand likely welcome it. Certainly slim pickings out there right now in many areas, and the peninsula is basically unavailable in certain areas and price points. The market is still buzzing too, which means it's unlikely that things will get any better for buyers in the near future. Just take a look at the number of properties that went pending this week and how quickly the absorption rate is dropping, all signs leading to a continued sellers market. Single family home average days on market continued to drop again this week, which isn't really a surprise given how quickly things are moving. Values overall are reporting strong as well, and much higher (around 10%) than last year at this time. Also reflective of the market, since multiple offers and quick sales are commanding buyers to pay close to, or at listing price. In some cases, well over the asking price, which is something unheard of in Halifax. Shaping up to be an interesting year already, so make sure to stay tuned to the blog to stay on top of things! Thanks for stopping by! The Weekly Adogtable!On the hunt for your perfect valentine? Hawking is sure to steal your heart! This young fella is a smart, driven and playful charmer who really has a way with the ladies. At first, he may come off a little indifferent, but with a hearty play sesh and some TLC, he'll be sliding his way into your dm's, and your home, in no time! Hawking would thrive in a home with consistency and lots of love. He loves having a job to do and is quick to pick up new tricks - although, he knows quite a few already. He gets along great with other dogs and children over 5, but would prefer to have no kitties in the home. . This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about him and 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. Don't forget to bookmark my page, and visit often! 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. We also offer mortgage and insurance solutions too! 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 Statistic Update for the Week of January 31st - February 7th, 2019 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 250 (175, 193, 220, 223) *289 Sold: 119 (94, 92, 72, 64) *101 Sale To Listing Ratio: 48% (54%, 48%, 33%, 29%) *35% Price Changes: 103 (75, 61, 90, 86) *89 Listings that went conditional/pending: 133 (133, 120, 122, 105) *89 Expired/Cancelled/Withdrawn: 168 (98, 88, 87, 94) *155 Total Active Halifax/Dartmouth Inventory: 3,074 (3,091, 3,122, 3,139, 3,133) +3,553 Absorption Rate in weeks: 33 (38, X, X, X) *36 Single Family Home Stats Active Single Family Home: 1,671 (1,648, 1,670, 1,692, 1,683) *1,903 Average Single Family Home List Price: $323,853 ($237k,$330k,$378k,$359k) *$323k Average Single Family Home Selling Price: $315,215 ($349k,$297k,$366k,$350k) *$311k Single Family Home Sale to List Ratio This Week: 97% (98%, 90%, 97%, 98%) *96% Median Single Family Home List Price (6 mo): $289,250 ($289k,$285k,$285k,$285k)*$275k Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$270k,$280k,$279k)*$270k Average Days on Market Single Family Home: 76 (77, 65, 76, 108) *95 Condo Stats Active Condos: 242 (241, 246, 249, 253) *359 Average Condo Listing Price: $306,554 ($231k, $255k, $285k, $236k) *$221k Average Condo Selling Price: $295,081 ($227k, $241k, $284k, $229k) *$216k Condo Sale to List Ratio This Week: 96% (98%, 95%, 99%, 97%) 98% Median Condo List Price (6 mo): $239,900 ($240k, $240k, $239k, $235k) *$239k Median Condo Sold Price (6 mo): $230,2500 ($232k, $230k, $230k, $225k) *$233k Average Days on Market Condos: 102 (120, 77, 114, 112) *87 Active Vacant Lots: 900 (942, 945, 936, 936) *963 Market Rant Alright folks, we're going backwards! For the third consecutive week there is another inventory reduction, which is certainly unusual for this time of year. Big inventory falloff this week was vacant land, posting a 45 unit reduction. Single family homes had a marginal gain, and condos also had a one point gain, so it would seem the massive land slide would be the main factor in this weeks inventory reduction. Still, previous weeks had various products contributing to the decline of inventory, which again, should be increasing at this point. This week did feel a bit different though. There was a good amount of new listings this week, so that was a bit different, but activity seemed to be down just slightly overall. Bit higher than expected price changes, so maybe we are leaning back to the market of 2012, where listings started to come to market a bit overpriced to see if there was any takers. Not hard to guess how that went! Although markets tend to fluctuate, Haligonians, and most certainly Nova Scotians in general, are not about to get caught up in overinflation, or overpaying (mostly). I've touched on this throughout the years, and it is clear through the stats that Nova Scotians tend to wait out prices to sustain the marginal value increase year to year. Even in the most dire market conditions, sellers have a tendency to hang on, if possible, and on the other side of that coin, buyers are reluctant to overpay, even in a sellers market. I think it's an amazing trait, and one that keeps us less susceptible to huge market variations, and a bit easier to predict how things will trend. Never know though, so make sure to stay tuned to the blog to stay on top of all things Halifax real estate! Thanks for stopping by! The Weekly AdogtableHunter is a ~2 year old neutered male amstaff/shepard mix. He would prefer a home with children 16 years and older. Obedience is an recommended choice for his new owner(s). Hunter needs to go to a home with no other animals. He is a hyper boy who does not respect the space of others. Hunter is a young ball of energy. He enjoys going for walks, running in the backyard, and playing with toys. He is very eager to learn new tricks everyday, with some treats as motivation of course. Hunter is looking for an active home because he is always on the go and rarely takes a break. Help Hunter burn off some energy and take him for a walk today. This "cuddly companion" is available through the NSSPCA, a non profit rescue organization from Halifax, Nova Scotia. More info about him and 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. Don't forget to bookmark my page, and visit often! 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. We also offer mortgage and insurance solutions too! 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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