The Halifax Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Thursdays)
Halifax (HRM) Residential Statistic Update for the Week of March 28th-April 4th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 408 (291, 260, 251, 330) *378
Sold: 147 (155, 139, 146, 126) *121
Sale To Listing Ratio: 36% (53%, 55%, 58%, 38%) *32%
Price Changes: 143 (105, 69, 101, 100) *143
Listings that went conditional/pending: 214 (190, 161, 169, 165) *163
Expired/Cancelled: 161 (67, 75, 61, 102) *179
Total Active Halifax/Dartmouth Inventory: 3,204 (3,181, 3,147, 3,160, 3,150) +3,904
Absorption Rate in weeks: 22 (23, 24, 25, 26) *32
Single Family Home Stats
Active Single Family Home: 1,780 (1,720, 1,688, 1,700, 1,674) *2,211
Average Single Family Home List Price: $366,000 ($381k,$365k,$337k,$344k) *$342k
Average Single Family Home Selling Price: $356,442 ($370k,$258k,$330k,$337k) *$333k
Single Family Home Sale to List Ratio This Week: 97% (97%,98%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $289,900 ($290k,$290k,$289k,$290k)*$280k
Median Single Family Home Sold Price (6 mo):$284,000 ($284k,$280k,$280k,$280k)*$272k
Average Days on Market Single Family Home: 71 (62, 68, 55, 78) *82
Active Condos: 248 (255, 254, 260, 298) *370
Average Condo Listing Price: $313,937 ($252k, $237k, $295k, $226k) *$290k
Average Condo Selling Price: $304,359 ($246k, $228k, $285k, $215k) *$281k
Condo Sale to List Ratio This Week: 97% (97%, 96%, 97%, 95%) 97%
Median Condo List Price (6 mo): $248,250 ($240k, $239k, $240k, $240k) *$239k
Median Condo Sold Price (6 mo): $241,000 ($232k, $230k, $232k, $230k) *$232k
Average Days on Market Condos: 60 (82, 54, 51, 108) *167
Active Vacant Lots: 923 (948, 938, 939, 932) *979
Well alright! Looks like April 1st might not only be April fools day, but the unofficial start to the Spring market inventory launch? Listings flooded to the market this week, and a stampede of for sale signs found their rightful property injecting new blood into the market for weary buyers to welcome. Still, lots of sales, and even more listings that came under contract this week saying that there is still a buyer buldge out there looking for the right property. Multiple offers are still rampant in many areas of HRM, with some listings selling ten's of thousands over listing price. Which makes me wonder if properties being undervalued that badly, or is it that buyers who have lost a few bids are ready to pay a premium to finally get a property to accept their offer? Although eh inventory is on the rise for the second straight week, things are lean around the hot spots, getting snapped up within ours of going live. Definitely a challenging landscape for buyers out there, and possible one for Sellers too as things continue to change at a fevered pace. One seldom seen in Halifax/Dartmouth anyways. Stay tuned to the blog to stay on top of the market and keep informed! Thanks for stopping by!
The Weekly Adogtable!
Jack has two luxating patellas and is awaiting surgery to repair this. His owners could not afford the surgery so they surrendered him. Jack is an extremely sweet, calm, laid-back boy that just loves everyone. He is calm in his kennel, well socialized with people and animals and is comfortable with all physical manipulations. No resource guarding, takes treats slowly, and is a cuddle-bug extraordinaire! Not a barker even when someone knocks on the door!
This "cuddly companion" is available through Good Bones Dog Rescue, 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!
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Newest Blog post HERE
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