The Halifax Real Estate Blog Weekly Housing Report and Statistics Update (Every Thursday) by Jeremiah Wallace
Halifax (HRM) Residential Market Statistic Update For Week of September 5th to September 12th 2013
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 498 (410, 382, 365, 460) *429
Sold: 125 (105, 145, 135, 125) *143
Sale To List Ratio: 25% (26%, 38%, 37%, 27%) *33%
Expired/Cancelled/Withdrawn: 124 (227, 136, 123, 126) *95
Total Active Halifax/Dartmouth Inventory: 5,414 (5,335, 5,478, 5,520, 5,544)
Active Single Family Home: 3,553 (3,499, 3,594, 3,622, 3,658) *3,010
Average Single Family Home List Price: $293,593 ($313,101, $294,462, $287,645, $296,009) *289k
Average Single Family Home Selling Price: $282,520 ($302,438, $291,877, $280,777, $287,897) *282k
Average Days On Market Single Family Home: 92 (108, 98, 112, 105) *81
Active Condos: 405 (399, 411, 430, 443) *285
Average Condo Listing Price: $244,546 ($264,208, $270,364, $258,454, $262,771) *228k
Average Condo Selling Price: $211,000 ($250,541, $264,664, $253,809, $235,532) *222k
Average Days On Market Condos: 132 (67, 104, 110, 85) *141
Halifax/Dartmouth Absorption Rate (weeks): 46 (45, 44, 44, 41) *36
Some different activity on the market this week. An unusual amount of new additions to the inventory this week has caused a rather large gain in the overall statistic. The sales remain low, which didn't help absorb the large influx of new listings. Speaking of which, the absorption rate gained another week this week, back to record breaking heights. There was a larger spread from list to sales price this week, more then usual anyways. With the amount of price reductions that have occurred in the last few weeks, it's not surprising that the sales spread is a little larger then usual. Sellers at this point have to make hard decisions on their listing as the end of the peak sales time draws near. September is usually a fairly decent marketplace to list in, but with the inventory piling on every week, advantage has turned to hinderance.
I could not let this week pass without keeping the memory of all of the first responders from the devastating events that occurred on 9/11 2001 in heart and mind. Such a solumn week that passes every year, and the impact that it has had on so many lives can never be forgotten.
The feature aDOGtable(s) this week is a mother and son. On the left is the mom , who is very friendly and playful. She is great with other dogs and is raised with children. On the right is her 1 year old pup. He is shy but friendly. He is also raised with children.
Both have NOT been tested with cats.
they are currently being cared for by Pit Project Rescue, a non-profit rescue organization out of Lawrencetown, NS.
Details about this fella and others ready for a "furever" home including how to adopt, other dogs for adoption and ways to donate, can be found by clicking the picture :) Thank you for your consideration!
Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!
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 leave a public comment or question below. 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.
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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