The Halifax Real Estate Blog Weekly Market Rant and Statistics Update by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of October 23rd to October 30th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 312 (326, 306, 418, 407) *323
Sold: 97 (108, 94, 100, 123) *96
Sale To Listing Ratio: 31% (33%, 31%, 24%, 30%) *30%
Listings that went conditional/pending: 122 (110, 99, 113, 107)
Expired/Cancelled/Withdrawn: 129 (130, 143, 132, 340) *188
Total Active Halifax/Dartmouth Inventory: 5,441 (5,485, 5,516, 5,564, 5,530) *5,161
Active Single Family Home: 3,592 (3,625, 3,651, 3,692, 3,684) *3,426
Average Single Family Home List Price: $275,538 ($293k, $302k, $310k, $283k) *$289k
Average Single Family Home Selling Price: $267,311 ($281k, $290k, $295k, $272k) *$279k
*Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 95%, 96%)
Average Days on Market Single Family Home: 104 (101, 87, 104, 118) *103
Active Condos: 492 (505, 508, 511, 507) *398
Average Condo Listing Price: $265,549 ($248k, $248k, $246K, $248k) *$221k
Average Condo Selling Price: $253,766 ($237k, $240k, $239k, $241k) *$214k
*Condo Sale to List Ratio This Week: 96% (96%, 97%, 97%, 97%)
Average Days on Market Condos: 119 (98, 110, 117, 109) *64
Absorption Rate in weeks: 55 (52, 49, 46, 86) *38
Active Vacant Lots: 1,018 (1,015, 1,017, 1,017, 1,005)
Looks like things continue to decline as we head towards the winter months, and winter market. The cool touch of fall has descended on our fair city, which coincides with the continued market temperature. I wanted to do some extra stats this week to see what was going on with the "expired/cancelled/withdrawn' pile, compared to our average list and selling prices. This is for single family homes;
Average listing price= $338,006
Average days on market= 171
Average list price= $333,425
Average days on market= 142
Average list price= $361,717
Average days on market= 109
Not too surprising, but the old saying of "price your home correctly" has some statistical teeth. These are the stats from the week to coincide with the other weekly reports, and as you can see, all three categories averaged much higher average listing prices and average days on market. Something can be said about the "cascade" effect as well, with not as many first time home category products not moving, the next price point up suffers. On average, however, these numbers lay it out pretty clearly, and show that what property owners may "want" to list their property for, is not necessarily what property owners "should" list their properties for.
Kiko is a great boy , he is 15 months old and fully vetted , the children in his foster home are aged 1 , 5 & 6 and he is excellent with them all , the other dogs are a small breed weighing under 10lb and a large breed weighing around 90lb and he gets along extremely well with both of them , he has also attended doggy daycare on a regular basis in his previous home.
Kiko is a high energy boy , he needs sufficient daily exercise as well as mental stimulation , he has a high prey drive and will go after small animals such as birds , his foster home is very rural with lots of small wildlife around and chickens , he is very interested in these and does chase if he gets the chance.
Kiko is very shy when meeting new adults , he does take time to warm up and be comfortable with them , he does not like adults he doesn't know approaching him and coming into his space , he needs to approach them once he feels comfortable.
This "sassy stud" is available through Nova Scotia Pitbull Rescue Society, 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.
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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!
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah