Halifax (HRM) Residential Statistic Update for the Week of December 14th - December 21st, 2017 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 141 (160, 246, 191, 200) *145 Sold: 112 (96, 116, 134, 115) *90 Sale To Listing Ratio: 79% (43%, 47%, 70%, 56%) *62% Price Changes: 53 (73, 116, 107, 114) *49 Listings that went conditional/pending: 94 (109, 103, 127, 133) *57 Expired/Cancelled/Withdrawn: 163 (116, 341, 105, 138) *191 Total Active Halifax/Dartmouth Inventory: 3,676 (3,781, 3,836, 4,057, 4,102) +4,394 Absorption Rate in weeks: 32 (33, 31, 32, 33) *47 Single Family Home Stats Active Single Family Home: 1,988 (2,061, 2,119, 2,256, 2,307) *2,556 Average Single Family Home List Price: $329,515 ($334k,$305k,$319k,$347k) *$314k Average Single Family Home Selling Price: $316,966 ($321k,$296k,$311k,$331k) *$298k Single Family Home Sale to List Ratio This Week: 96% (96%, 97%, 97%, 95%, 96%) *95% Median Single Family Home List Price (6 mo): $278,844 ($279k,$279k,$279k,$279k)*$280k Median Single Family Home Sold Price (6 mo): $269,925 ($270k,$270k,$270k,$270k)*$270k Average Days on Market Single Family Home: 77 (69, 94, 90, 77) *97 Condo Stats Active Condos: 355 (369, 374, 389, 393) *435 Average Condo Listing Price: $249,125 ($249k, $257k, $261k, $227k) *$228k Average Condo Selling Price: $239,865 ($242k, $247k, $231k, $217k) *$217k Condo Sale to List Ratio This Week: 96% (97%, 96%, 88%, 96%) 95% Median Condo List Price (6 mo): $243,700 ($249k, $246k, $245k, $246k) *$235k Median Condo Sold Price (6 mo): $239,250 ($240k, $239k, $236k, $239k) *$225k Average Days on Market Condos: 98 (97, 65, 83, 144) *131 Active Vacant Lots: 961 (964, 958, 1,016, 1,002) *1,134 Market Rant As you can imagine, the number this week are a little skewed in areas, being so close to Christmas and all. Surprisingly though, there was a number of listings that came to market, and an even more surprising number of properties that sold this week. In just over a week, the 2017 real estate market will come to a close, and a new one will start. If next year reports anything like this year, 2018 might see a further swing into a Sellers market. Not welcomed news for the many buyers currently out there and thinking of getting into the market, but news well received by sellers no doubt. The Halifax real estate market is anything but predictable, so you'll have to keep an eye to the blog to stay on top of things! Be sure to check in to the blog in January for the 2017 market wrap up, and of course for your weekly reports! Happy Holidays! I just wanted to wish my clients, friends, family and readers of the blog a very Merry Christmas and Happy New Year! The weekly market rant will return in 2018, with the 2017 market year summary! Be sure to stop by! The Weekly Adogtable! Ready for a charmer in your life? Handsome guy Tonka loves the ladies, and he's always raring to go-go-go! This high energy pup is looking for the next adventure with his forever family, whom he would prefer to all be of the two-legged variety. Tonka is very selective about who he wants to socialize with when it comes to making new friends (male dogs and cats need not apply), and would prefer to be the only pet in the home. Known for his trailblazing and couch potato personas, Tonka is ready for the best of both worlds. If you're looking to lace up with your next running buddy, who'll veg on the sofa afterward with the latest episode of your tv marathon, come and meet Tonka today! Tonka's ideal home environment will be: -Without other animals (due to reactivity) -With children over 16 years (Tonka is very mouthy, growly, and jumpy when in play mode) -With an experienced adopter who understands dog behaviour This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her 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 December 7th - December 14th, 2017 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 160 (246, 191, 200, 223) *115 Sold: 96 (116, 134, 115, 135) *89 Sale To Listing Ratio: 43% (47%, 70%, 56%, 61%) *77% Price Changes: 73 (116, 107, 114, 136) *96 Listings that went conditional/pending: 109 (103, 127, 133, 130) *81 Expired/Cancelled/Withdrawn: 116 (341, 105, 138, 130) *121 Total Active Halifax/Dartmouth Inventory: 3,781 (3,836, 4,057, 4,102, 4,142) +4,482 Absorption Rate in weeks: 33 (31, 32, 33, 32) *45 Single Family Home Stats Active Single Family Home: 2,061 (2,119, 2,256, 2,307, 2,492) *2,638 Average Single Family Home List Price: $334,192 ($305k,$319k,$347k,$302k) *$286k Average Single Family Home Selling Price: $321,260 ($296k,$311k,$331k,$290k) *$274k Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 95%, 96%) *96% Median Single Family Home List Price (6 mo): $278,800 ($279k,$279k,$279k,$280k)*$280k Median Single Family Home Sold Price (6 mo): $269,900 ($270k,$270k,$270k,$270k)*$271k Average Days on Market Single Family Home: 69 (94, 90, 77, 73) *118 Condo Stats Active Condos: 369 (374, 389, 393, 397) *437 Average Condo Listing Price: $249,434 ($257k, $261k, $227k, $213k) *$235k Average Condo Selling Price: $241,514 ($247k, $231k, $217k, $209k) *$222k Condo Sale to List Ratio This Week: 97% (96%, 88%, 96%, 98%) 95% Median Condo List Price (6 mo): $248,950 ($246k, $245k, $246k, $249k) *$230k Median Condo Sold Price (6 mo): $239,950 ($239k, $236k, $239k, $240k) *$224k Average Days on Market Condos: 97 (65, 83, 144, 76) *106 Active Vacant Lots: 964 (958, 1,016, 1,002, 1,003) *1,134 Market Rant By this time last year, the market was a few months into what is now reflected on as the turnaround time from the 2012-15 year doldrums. It took a fair time to shake the funk, but this year sustained the momentum that the end of last year provided and continued to build. One year later, we are really starting to see the effects of an active market, and it still seems like there is no slowing in sight. Most of the key market factors are trending towards carrying this activity into the new year, which might make the Spring market that much more challenging for buyers in 2018. 2017 already had buyers feeling the new market dynamic of less selection and higher competition, so if it keeps up, the buying process for some will become that much more drawn out process. Taking a quick look though, you can see the improvements overall. Inventory is down across the board, values are up, the absorption rate is way down, buyer activity is still up, and products overall are spending less time on market, days for some listings. As we head towards the end of the year, activity should continue to taper off, but the anticipation is that it will ramp right back up again once the new year arrives. You'll have to stay tuned to the blog to find out! Thanks for stopping by! The Weekly Adogtable! Maddox is a happy, rambunctious young dog with a lot of energy to burn! You'll need a strong set of lungs and good running legs to keep up with him, because he just wants to MOVE! He has yet to learn that sharing is caring, and will display guarding behaviour specifically over toys- for this reason, he would do best in a home with an adopter who is experienced and confident, and older children who understand when he needs his space. Maddox would be thrilled to explore all your favourite outdoor places (and the comfiest spot on your bed). He prefers to be spoiled with love instead of treats, but we're sure he's bound to have a favourite that we have yet to discover. Maddox's ideal home environment would be: -Without other animals (due to elevated stress around other animals) -With children over the age of 12 -Experienced adopters who understand dog behaviours -Proof of registration in obedience training mandatory upon adoption This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her 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 November 30th - December 7th, 2017 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 246 (191, 200, 223, 214) *194 Sold: 116 (134, 115, 135, 123) *96 Sale To Listing Ratio: 47% (70%, 56%, 61%, 58%) *50% Price Changes: 116 (107, 114, 136, 179) *116 Listings that went conditional/pending: 103 (127, 133, 130, 138) *99 Expired/Cancelled/Withdrawn: 341 (105, 138, 130, 144) *385 Total Active Halifax/Dartmouth Inventory: 3,836 (4,057, 4,102, 4,142, 4,165) 4,554 Absorption Rate in weeks: 31 (32, 33, 32, 33) *43 Single Family Home Stats Active Single Family Home: 2,119 (2,256, 2,307, 2,492, 2,511) *2,690 Average Single Family Home List Price: $304,769 ($319k,$347k,$302k,$286k) *$299k Average Single Family Home Selling Price: $295,569 ($311k,$331k,$290k,$275k) *$287k Single Family Home Sale to List Ratio This Week: 97% (97%, 95%, 96%, 96%) *96% Median Single Family Home List Price (6 mo): $279,000 ($279k,$279k,$280k,$280k)*$280k Median Single Family Home Sold Price (6 mo): $270,000 ($270k,$270k,$270k,$270k)*$271k Average Days on Market Single Family Home: 94 (90, 77, 73, 80) *90 Condo Stats Active Condos: 374 (389, 393, 397, 403) *449 Average Condo Listing Price: $256,726 ($261k, $227k, $213k, $193k) *$274k Average Condo Selling Price: $247,318 ($231k, $217k, $209k, $185k) *$260k Condo Sale to List Ratio This Week: 96% (88%, 96%, 98%, 96%) 95% Median Condo List Price (6 mo): $245,500 ($245k, $246k, $249k, $249k) *$230k Median Condo Sold Price (6 mo): $239,000 ($236k, $239k, $240k, $240k) *$222k Average Days on Market Condos: 65 (83, 144, 76, 88) *63 Active Vacant Lots: 958 (1,016, 1,002, 1,003, 1,008) *1,137 Market Rant The absorption rate continues to impress as we tip into the month of December and edge closer to the conclusion of the market year. In total, there is a 12 week, or 3 month, difference in absorption rate from this year to last... which is incredible! The 2012 market year started an upward absorption rate trend, and by the time 2015 hit, many wondered if it was every going to stop. Thankfully, 2016 witnessed the pause and eventual start of reduction in this statistic near the end of the year. This is a very important statistic, and those that are not familiar with just how important it is, here are a few reasons; 1. As the number shrinks, this is a good indication of higher demand in the marketplace. For Sellers, this is a key stat to watch when it comes time to sell. A sliding rate means that buyers are out in full force, soaking up the products, giving a better chance of selling. 2. Quite the opposite for buyers. As the number increases, demand is lessened as inventory bloats. Lots of selection, and more bargaining power for buyers. 3. Market health. The ebb and flow ion the list/sale routine is gauged by the demand of inventory, or lack thereof. Any major swings are usually reflected in this stat, although it may take a few weeks. or months to see the true impact. Still, it is a very important tool in market diagnosis. Our current state of the absorption rate took almost 5 years to achieve, so the Halifax market is slow to react either way, which in my opinion is a good thing. We are somewhat shielded from the drastic boom/bust markets of the west, making market analysis more predictable. Not great for savvy investors, since they have to dig to find deals, but good for buyers looking to get into a safer market. You never know what will happen though, so it's good to stay tuned to the blog to keep up to date and informed! Thanks for stopping by! Elliot needs a place to call home...The Weekly Adogtable! After spending a couple weeks with the staff at HBCP, Elliot has decided it's his time to shine and find himself a new home to call his own. With the holidays about, Elliot would love nothing more than to cozy up on the couch by the TV and watch some Christmas classics. Although he loves to relax, Elliot is also well-known for zooming around the yard and throwing around a couple toys, let's just say he's not afraid to hold back his excitement when the fun-times are rolling. Elliot would do best in a home: Without other animals (he's fine to say hello, but is very pushy with others) With kids over the age of 5 This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her 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. 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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