Halifax (HRM) Residential Market Statistic Update For Week of March 20th-March 27th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 387 (422, 503, 484, 336) *446
Sold: 97 (122, 125, 98, 92) *144
Sale To List Ratio: 25% (29%, 26%, 20%, 27%) *32%
Listings that went conditional/pending: 110 (136, 139, 146, 107)
Expired/Cancelled/Withdrawn:  75 (109, 88, 159, 72) *43
Total Active Halifax/Dartmouth Inventory:  4,611 (4,541, 4,506, 4,400, 4,339) *4,542
Active Single Family Home: 3,037 (2,960, 2,938, 2,850, 2,775) *2,992
Average Single Family Home List Price:  $287,785 ($301,034, $276,316, $275,268, $308,998) *288k
Average Single Family Home Selling Price:  $277,215 ($290,534, $266,136, $268,132, $292.028) *281k
Average Days On  Market Single Family Home: 89 (112, 108, 125, 124) *82
Active Condos:  475 (470, 461, 446, 455) *336
Average Condo Listing Price:  $236,232 ($250,670, $232.800, $267,500, $247,887) *262k
Average Condo Selling Price:  $230,776 ($241,520, $223,278, $253,966, $241,324) *254k
Average Days On Market Condos:  112 (92, 178, 131, 73) *71
Halifax/Dartmouth Absorption Rate (weeks):  102 (101, 94, 89, 58) *46

MARKET RANT
The Spring market has arrived, but it seems to be reflective of a winter market in both statistical and weather aspects. Although the cold weather has stuck around a little long this year, sellers haven't wasted any time on getting their properties on, or back on, the market. Once again, total inventory has risen beyond last years reports in all areas. Just looking at the condo figures alone, there are 142 more on the market this year then last, and 226 more then two years ago. Single family stats aren't as drastic in gains, but we have 45 more properties then last, and a whopping 480 then two years ago at this time. The things that haven't changed much in the last few years is the sales rate, and the inventory percentage gain. SFH values remain steady around the $285k mark, and condos average around $245k. The average shelf time for a property is still higher then last year, and the absorption rate has actually doubled from last year. Sounds like the same "doom and gloom" that you would expect to read on the blog, but the time of sugar-coating the truth about the market has long since passed. When the market does turn around have no doubts that I will be the first one pointing out the indicators, until then, I will report what is really happening out there. As long as readers such as you keep coming back to get the updates, I will gladly keep the reports coming! Thank you to all my loyal HREB visitors, old and new!

WEEKLY ADOGTABLE
Hi, I'm Tanner! The girls say I'm super cute, especially when I carry my ball around everywhere. I love to play, and run around with my toys. I like other doggies, and I'm fine with kitties 
Weight: 28kg/61lbs
MORE ABOUT TANNER
House trained • Spayed/Neutered • Shots Current

This peppy fella 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.

ViewPoint Realty
Are you familiar with ViewPoint Realty? How about the ViewPoint 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 is now more rewarding then ever to become a ViewPoint Client. 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!

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 leave a public comment or question below. 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.


Newest blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of March 13th-March 20th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 422 (503, 484, 336, 304) *484
Sold: 122 (125, 98, 92, 90) *99
Sale To List Ratio: 29% (26%, 20%, 27%, 30%) *20%
Listings that went conditional/pending: 136 (139, 146, 107, 96)
Expired/Cancelled/Withdrawn:  109 (88, 159, 72, 71) *69
Total Active Halifax/Dartmouth Inventory:  4,541 (4,506, 4,400, 4,339, 4,312) *4,453
Active Single Family Home: 2,960 (2,938, 2,850, 2,775, 2,743) *2,922
Average Single Family Home List Price:  $301,034 ($276,316, $275,268, $308,998, $310,882) *322k
Average Single Family Home Selling Price:  $290,534 ($266,136, $268,132, $292.028, $294,628) *314k
Average Days On  Market Single Family Home: 112 (108, 125, 124, 130) *113
Active Condos:  470 (461, 446, 455, 462) *322
Average Condo Listing Price:  $250,670 ($232.800, $267,500, $247,887, $263,776) *275k
Average Condo Selling Price:  $241,520 ($223,278, $253,966, $241,324, $255,527) *259k
Average Days On Market Condos:  92 (178, 131, 73, 118) *67
Halifax/Dartmouth Absorption Rate (weeks):  101 (94, 89, 58, 56) *49

MARKET RANT
Biggest thing of note this week is the crazy climb of the absorption rate. It has officially doubled from last year, and does not look to be slowing down anytime soon. That's in part to the flood of additional listings we get every week, and the lack of those listings selling. So, to put in perspective, we are three weeks shy of the absorption rate taking two years to "absorb" all of the listings at the is sales rate, if all listing activity stopped. Average days on market sits just under four months still, and property value took a bump this week. The sales to list ratio got a little healthier this week, it just overshadowed by the number of new additions to the inventory. Weather woes may not be helping potential buyers get out there and take a look around either, and it seems the mood of the weather coincides with the mood of the market. Make sure to check out the February monthly wrap up by scrolling down! Thanks for stopping by!

WEEKLY ADOGTABLE
Hi guys, my name is Calypso. I am a sweet girl who loves to give kisses! I am quite laid back, but still like to play - the girls say I sound like a little piggy when I get excited. I would like a home with no other animals, and no children. Come visit me today! Weight 29kg/65lbs
MORE ABOUT CALYPSO
Prefers a home without: Dogs, Cats, Young Children • House trained • Spayed/Neutered • Shots Current

This sweet lady 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.

ViewPoint Realty
Are you familiar with ViewPoint Realty? How about the ViewPoint 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 is now more rewarding then ever to become a ViewPoint Client. 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!

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 leave a public comment or question below. 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.


Newest blog post HERE

Oddly enough, the inventory actually declined a little last month going against the annual trend. Seems that the early year market buzz has wained, and we have settled back into lacklustre market activity.

After a slow start to the season, and what appeared to be the start of a price correction trend, average sales prices bumped back up again to take the top spot overall. So although there is a lot to choose from out there, sellers are holding on to their prices.

Not really surprised here as sales continue to slump all over Halifax. Lowest sales count for February in over a decade, with a measly 305 sold on the books (not including private sales). So our high inventory/low sales trend continued on in February, and the woes of the down market continued to take their toll on all connections to the purchase and sale of property, not just sellers. 

Reporting from all areas of the industry, mortgage specialists, lawyers, insurance brokers, inspectors, Real Estate agents, bankers, have all chimed in with regards to the poor market and lack of activity. At this point, there is not a whole lot of people that I meet, including property buyers, that do not know the current state of affairs here in Halifax. Some looking to get in while the market is soft, and others waiting to get in until the market improves. Unfortunately, it looks the unforgiving market is going to hang around for a bit longer, and we can only hope that the Spring will turn things around with warmer weather and renewed interest. Thanks for stopping by!

ViewPoint Realty
Are you familiar with ViewPoint Realty? How about the ViewPoint 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 is now more rewarding then ever to become a ViewPoint Client. 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!

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 leave a public comment or question below. 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.


Newest blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of March 6th-March 13th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 503 (484, 336, 304, 333) *495
Sold: 125 (98, 92, 90, 107) *98
Sale To List Ratio: 26% (20%, 27%, 30%, 32%) *20%
Listings that went conditional/pending: 139 (146, 107, 96, 88)
Expired/Cancelled/Withdrawn:  88 (159, 72, 71, 78) *62
Total Active Halifax/Dartmouth Inventory:  4,506 (4,400, 4,339, 4,312, 4,277) *4,326
Active Single Family Home: 2,938 (2,850, 2,775, 2,743, 2,741) *2,832
Average Single Family Home List Price:  $276,316 ($275,268, $308,998, $310,882, $313,026) *283k
Average Single Family Home Selling Price:  $266,136 ($268,132, $292.028, $294,628, $305,798) *274k
Average Days On  Market Single Family Home: 108 (125, 124, 130, 108) *117
Active Condos:  461 (446, 455, 462, 449) *319
Average Condo Listing Price:  $232,800 ($267,500, $247,887, $263,776, $272,556) *241k
Average Condo Selling Price:  $223,278 ($253,966, $241,324, $255,527, $268,300) *233k
Average Days On Market Condos:  178 (131, 73, 118, 127) *98
Halifax/Dartmouth Absorption Rate (weeks):  94 (89, 58, 56, 63) *50

MARKET RANT
One week away from the spring season, and listings continue to flood the already swollen inventory. Speaking of inventory, we have officially surpassed last year's totals in all areas. Condo's have been well above last year's totals for quite some time now, but single family made the leap this week. That being said, we smashed several inventory related last year with regards to the inflation, and if this keeps up, we will be on pace to smash even more this year. For only the second time this year we reached over 100 sales, but that was not enough to take a dent out of the huge addition of new/re-listed properties. In fact, the absorption rate is one of the highest weeks it's been since starting to track that statistic a few years ago, with a grand total of almost 2 years to sell off all the inventory at the sales rate, if inventory stopped being added today! Adding to sellers woes (especially condo sellers), is the average days on market. Almost 4 months for single family homes, and a shocking 6 months for condos. I've stressed a number of times on the blog the importance of pricing a property correctly, and choosing the right avenue to market your property for sale. It is more important then ever to get the right representation so you do not end up chasing the market, and become mixed in with the other "stale properties". 

I didn't have to look to far to find what is becoming a trend here in Halifax; Currently listed in the low 700k's, and located in a desirable part of the city, this property has "chased the market" for almost 2 years.

Don't forget to visit ViewPoint.ca and look around at the history of the homes in your neighbourhood currently for sale, and what they are selling for. I pose a challenge to my readers this week to find a property that is currently on the site with a longer history (within HRM). The unfortunate thing is that I don't think it will be hard to beat. Send your findings to me direct at [email protected], and I will post the winner next week! Thanks for stopping by and stay dry out there!


WEEKLY ADOGTABLE
Jasper is a one year old 82 pound pit bull mix - so he is a big boy who loves life and loves to play and will love your active home. He loves other dogs his size, but little dogs will probably find him a bit too rambunctious as would cats - so a home without them would be best.
He is a happy, fun dog who just wants to have fun and is very people focused - you will have your best friend for life with Jasper - he's waiting for you!
MORE ABOUT JASPER
Prefers a home without: Cats • House trained • Spayed/Neutered • Shots Current
This peppy fella is available through No Chains ALL LOVE,  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.

ViewPoint Realty
Are you familiar with ViewPoint Realty? How about the ViewPoint 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 is now more rewarding then ever to become a ViewPoint Client. 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!

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 leave a public comment or question below. 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.


Newest blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of February 27th-March 6th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 484 (336, 304, 333, 405) *491
Sold: 98 (92, 90, 107, 61) *89
Sale To List Ratio: 20% (27%, 30%, 32%, 15%) *18%
Listings that went conditional/pending: 146 (107, 96, 88, 129)
Expired/Cancelled/Withdrawn:  159 (72, 71, 78, 168) *156
Total Active Halifax/Dartmouth Inventory:  4,400 (4,339, 4,312, 4,277, 4,440) *4,163
Active Single Family Home: 2,850 (2,775, 2,743, 2,741, 2,850) *2,735
Average Single Family Home List Price:  $275,268 ($308,998, $310,882, $313,026, $306,392) *307k
Average Single Family Home Selling Price:  $268,132 ($292.028, $294,628, $305,798, $296,392) *300k
Average Days On  Market Single Family Home: 125 (124, 130, 108, 98) *98
Active Condos:  446 (455, 462, 449, 442) *313
Average Condo Listing Price:  $267,500 ($247,887, $263,776, $272,556, $267,556) *210k
Average Condo Selling Price:  $253,966 ($241,324, $255,527, $268,300, $230,212) *203k
Average Days On Market Condos:  131 (73, 118, 127, 107) *89
Halifax/Dartmouth Absorption Rate (weeks):  89 (58, 56, 63, 55) *48

MARKET RANT
Slightly better then last year in most areas, but lacking in some key areas. Hello everyone and thank you for taking time out to stop by the Halifax Real Estate Blog, hosted by Jeremiah Wallace of ViewPoint Realty! A lot of comparable stats from last year, new listings are almost on par, as well as sales and the sales to list ratio. Even the expired/cancelled/withdrawn bucket is 3 units away from match! Inventory is slightly lower then this time last year, but it too is really close to being on par as well, except for condo's that is. Condo's spread year over year continues to increase. Could be the addition of all those brand new condo developments on the market, drawing would be buyers away from resale properties. There just really seems to be a stall with condo's in HRM, regardless of location. Another big difference from last year is the days on market. Slowly but surely this statistic has been slowly creeping up, and the wait is getting longer to sell. Absorption rate took a beating this week as well due to the flood of new listings, and sub par sales. Make sure to stop by this week for the monthly wrap up and see how February compared. Thanks for stopping by!

WEEKLY ADOGTABLE
Hello!! My name is Capone  I'm a very happy boy and I love to play! I like other dogs, people, and I don't really mind kitties. I would love to find my new home...is it with you?
This peppy fella 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.

ViewPoint Realty
Are you familiar with ViewPoint Realty? How about the ViewPoint 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 is now more rewarding then ever to become a ViewPoint Client. 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!

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 leave a public comment or question below. 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.


Newest blog post HERE