The Halifax Real Estate Blog Weekly Housing Update and Market Report by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of October 31st to November 7th 2013
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 466 (323, 386, 330, 416) *352
Sold: 166 (96, 96, 97, 116) *85
Sale To List Ratio: 37% (30%, 25%, 29%, 28%) *24%
Expired/Cancelled/Withdrawn: 259 (188, 149, 148, 153) *144
Total Active Halifax/Dartmouth Inventory: 5,029 (5,161, 5,247, 5,246, 5,278)
Active Single Family Home: 3,319 (3,426, 3,478, 3,519, 3,536) *2,819
Average Single Family Home List Price: $309,696 ( $288,708, $284,754, $263,775, $291,777) *265k
Average Single Family Home Selling Price: $293,573 ($279,192, $275,216, $256,071, $281,699) *256k
Average Days On Market Single Family Home: 111 (103, 113, 101, 95) *74
Active Condos: 407 (398, 401, 399, 409) *273
Average Condo Listing Price: $216,268 ($220,585, $241,620, $268,519, $259,544) *283k
Average Condo Selling Price: $209,428 ($213,892, $234,480, $261,570, $252,246) *275k
Average Days On Market Condos: 123 (64, 48, 73, 56) *56
Halifax/Dartmouth Absorption Rate (weeks): 48 (55, 55, 52, 54) *40
Little bit of improvement again this week on the market as last minute shoppers grab at last minute deals. Lots of price drops this week, which has been the trend going into the "last ditch effort" zone for sellers of the 2013 market year. Unless the property is vacant, it will be a challenge to close anything before Christmas, and really, focus will shift soon enough. Although many stats are reflective of this time of year, condo's reverse the trend by actually gaining inventory this week. We did have a solid week of sales however, and much better then last year at this time. It almost took a year, but our market is starting to be reflective of last year, now hopefully it will run the other way!
Remember, this monday, November 11th is Remembrance Day. There are many services across the city to attend and pay tribute to members of the military that have served, are currently serving, or have paid the ultimate price, for our freedom.
Hey there I'm Willy. I know I know I'm a girl and Willy is a boy's name. My foster mom called me Wee Willy Whiner when I was just a wee thing because well.........you can guess it, I whined. I just wanted to be near her. It was comforting. I still like being with people and I love falling asleep on someone. I'm quite shy so I really need time to adjust to a new situation on my own. I pummel my sisters quite fine so once I get to know someone I'm right as rain!
He is currently being cared for by tLabrador Rescue of Nova Scotia Enfield, NS. Details about this beauty 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