The Halifax Real Estate Blog Weekly Market Rant and Market Statistics Update by Jeremiah Wallace (Every Thursday (except next Thursday))
Halifax (HRM) Residential Market Statistic Update For Week of December 11th - December 18th 2014
(Previous weeks numbers in brackets)
New Listings: 208 (232, 273, 252, 304)
Sold: 70 (81, 90, 110, 89)
Sale To Listing Ratio: 34% (35%, 33%, 44%, 29%)
Listings that went conditional/pending: 67 (85, 90, 85, 122)
Expired/Cancelled/Withdrawn: 210 (150, 340, 133, 140)
Total Active Halifax/Dartmouth Inventory: 4,573 (4,749, 4,840, 5,074, 5,165)
Active Single Family Home: 2,928 (3,037, 3,117, 3,292, 3,371)
Average Single Family Home List Price: $300,497 ($283k, $273k, $294k, $269k)
Average Single Family Home Selling Price: $292,415 ($270k, $283k, $257k)
*Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 96%, 95%)
Average Days on Market Single Family Home: 122 (162, 118, 116, 103)
Active Condos: 421 (442, 440, 458, 469)
Average Condo Listing Price: $240,827 ($247k, $261k, $250k, $266k)
Average Condo Selling Price: $231,718 ($235k, $253k, $241k, $256k)
*Condo Sale to List Ratio This Week: 96% (95%, 97%, 96%, 97%)
Average Days on Market Condos: 134 (134, 153, 175, 126)
Absorption Rate in weeks: 52 (51, 60, 51, 54)
Active Vacant Lots: 941 (973, 983, 1,007, 1,006)
As we head to the slowest time of year, I'm not really surprised at any statistics this week. Inventory continues to vacate the market, and buying activity has slowed to a crawl. Values are still holding onto their respective averages for the year, and days on market are a little brutal around this time pushing four months on average. With Christmas just around the corner buyers are out there in full force, just looking for gifts instead of homes. Maybe spending that time to go for a skate at the oval, a walk around the local parks, or visiting with family. Either way, this downward trend will continue until the end of the year and reset, for what we hope to be a banner year in the new year. There is a few positive market indicator rumours floating around right now, and if they turn out, it will indeed be an interesting year next year. Be sure to tune into the blog to follow the market every step of the way!
My name is Reuban, and I could really use someone to snuggle up to on xmas.
Valley bull/Boxer mix
DOB- nov 15/09
Reuban is a beautiful boy who gets along with kids, and cats. He is good with some dogs, but tends to be dominant, so might be best placed without other dogs. He is housebroken, well behaved and knows basic obedience commands.
This "needy ned" is available through LILLIAN ALLBON ANIMAL SHELTER a non profit rescue organization from Halifax, Nova Scotia. More info about her, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.
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The ViewPoint Realty map
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. Thanks for stopping by!
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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