The Halifax Real Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Market Statistic Update for the Week of April 21st - April 28th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 388 (393, 392, 496, 315) *590
Sold: 151 (155, 144, 131, 109) *143
Sale To Listing Ratio: 39% (39%, 37%, 26%, 35%) *24%
Price Changes: 275 (193, 190, 238, 135, 130)
Listings that went conditional/pending: 181 (182, 184, 179, 146) *150
Expired/Cancelled/Withdrawn: 100 (106, 104, 215, 145) *66
Total Active Halifax/Dartmouth Inventory: 5,051 (4,961, 4,867, 4,776, 4,663) *5,094
Absorption Rate in weeks: 35 (37, 39, 38, 40) *44
Single Family Home Stats
Active Single Family Home: 3,391 (3,333, 3,277, 3,207, 3,103) *3,402
Average Single Family Home List Price: $304,058 ($302k, $292k, $297k, $319k) *$295k
Average Single Family Home Selling Price: $293,832 ($293k, $278k, $287k, $305k) *$284k
Single Family Home Sale to List Ratio This Week: 97% (97%, 95%, 97%, 96%) *97%
Median Single Family Home List Price: $269,000 ($277k, $260k, $270k, $275k)
Median Single Family Home Sold Price: $262,875 ($271k, $248k, $264k, $260k)
Average Days on Market Single Family Home: 85 (98, 100, 86, 89) *112
Active Condos: 450 (446, 434, 419, 442) *557
Average Condo Listing Price: $238,657 ($275k, $217k, $260k, $274k) *$258k
Average Condo Selling Price: $228,846 ($267k, $206k, $252k, $268k) *$250k
Condo Sale to List Ratio This Week: 96% (97%, 95%, 97%, 98%) *97%
Median Condo List Price: $201,950 ($283k, $211k, $200k, $175k)
Median Condo Sold Price: $184,750 ($271k, $198k, $195k, $170k)
Average Days on Market Condos: 141 (75, 95, 95, 86) *140
Active Vacant Lots: 972 (949, 933, 927, 917) *853
Now that looks much better! The inventory game of cat and mouse continues this week, this time, with an earlier than predicted report. What appeared to be the very familiar activity of an ever rising level of inventory, did the opposite, proving that the Halifax real estate market is anything but predictable. This week, in the heart of the Spring market, the inventory closed the widening gap between this year and last, and actually reported less inventory then last year at this time. April in itself was a solid month for sales. Even with the lack of Buyers in the market, the listings piling onto the market week over week skewed the positive activity going on under the surface. Even with this positive activity, it looked like we were destined to repeat history by climbing to all new inventory heights, but as I mentioned in earlier posts, I believed the full brunt would be felt in the Summer months. This week might be an indicator of things to come, or in could be just an smooth patch of road heading back down the Buyers market highway. Only time will tell, so make sure to check back in soon for all the latest information. Thanks for stopping by!
Edson is a 9 month old Black Lab-Pitty mix. He weighs approx 45 pounds, has recently been neutered and is ready for his forever home. Edson is cuddily and very good with children of all ages, he loves to lay with you and watch TV but he also needs a good long run to help him burn off his energy.
He listens quite well but would benefit from further training. Edson's perfect home would be one where someone is home LOTS, one with another dog for him to play with would be great because he is full of energy and loves to play, an owner who is active (hiker, jogger, walker etc) one without cats that are not dog savvy and a fenced in yard. Edson is still very much a puppy and has a lot of puppy energy, he would not do well in a home where he is alone all day or in a kennel for 6-8 plus hours a day
This "cuddly companion" is available through Litters 'n Critters, 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.
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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