The Halifax Real Estate Blob Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Thursdays)
Halifax (HRM) Residential Statistic Update for the Week of September 26th - October 3rd, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 243 (207, 265, 277, 246) *285
Sold: 164 (189, 192, 149, 147) *174
Sale To Listing Ratio: 67% (91%, 72%, 54%, 60%) *61%
Price Changes: 127 (124, 132, 121, 140) *172
Listings that went conditional/pending: 166 (187, 208, 168, 189) *164
Expired/Cancelled: 210 (57, 66, 71, 141) *127
Total Active Halifax/Dartmouth Inventory: 2,981 (3,094, 3,139, 3,157, 3,132) +4,030
Absorption Rate in weeks: 17 (18, 19, 19, 19) *27
Single Family Home Stats
Active Single Family Home: 1,624 (1,685, 1,716, 1,751, 1,744) *2,258
Average Single Family Home List Price: $351,041 ($331k,$351k,$318k,$333k) *$308k
Average Single Family Home Selling Price: $336,352 ($324k,$342k,$312k,$327k) *$299k
Single Family Home Sale to List Ratio This Week: 96% (98%, 98%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $307,900 ($309k,$309k,$309k,$306k)*$290k
Median Single Family Home Sold Price (6 mo):$300,500($302k,$303k,$303k,$302k)*$282k
Average Days on Market Single Family Home: 68 (52, 54, 86, 60) *53
Active Condos: 199 (220, 220, 213, 205) *329
Average Condo Listing Price: $299,900 ($256k, $275k, $285k, $293k) *$213k
Average Condo Selling Price: $270,000 ($249k, $267k, $276k, $287k) *$206k
Condo Sale to List Ratio This Week: 90% (98%, 98%, 97%, 98%) 97%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k
Median Condo Sold Price (6 mo): $242,500 ($245k, $243k, $244k, $243k) *$221k
Average Days on Market Condos: 78 (34, 46, 68, 27) *79
Active Vacant Lots: 901 (936, 930, 916, 946) *1,071
Is it October already? It's certainly been a year for the books so far, and I'm sure with another blink, it will all be concluded. Time isn't the only thing that continues to move quickly this year, the various property products are also flying off the shelves. The hardest hit areas remain closer to the core, but a seemingly impossible purchase task at certain price points has the ripple effect pushing out to outlying areas. The entry level ($200k-280k) has been seen the most impact, but the going theory is that the price point just above them has no where to go, or can't find a viable option, so they are just staying put. Buyers want to buy, but inventory is falling to record lows, with no real indication that the drop is going to end anytime soon.
Out of this market though, new construction companies are certainly seeing a bump in activity. With the need to get more space, or locate to a different region, new construction has become a go to for some buyers based on the fact that they can plan their move better. Of course, that doesn't help people who need to be on or near the peninsula, since the new construction zones are on the outside of the 102 on the Halifax side, and outside of the 111 on the Dartmouth side. Neither of which is a commuters dream. Somethings got to give eventually, so stay tuned to the blog to stay on top of the market and make a plan! Thanks for stopping by!
The Weekly Adogtable!!
JoJo is a ~7 year old neutered male amstaff mix.
He would prefer a home with adults only.
Obedience is optional for her new owner(s).
He would prefer an only pet home, and no apartments/condos.
Don't let JoJo's size intimidate you, he is a very sweet boy looking for his forever home! JoJo loves to go for a nice walk then have a nice relaxing nap to follow up. On days where the weather isn't co-operating for his usual walk, he has just as much fun playing with his toys. After a good play session he is ready to follow up with a nice nap and cuddle time. If you want to meet this handsome guy, please inquire with staff today!
This "cuddly companion" is available through the Nova Scotia SPCA, 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah