The Halifax Real Estate Blog Weekly Market Rant and Market Stats Report by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of February 12th - February 19th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 304 (339, 426, 447, 325) *304
Sold: 92 (93, 95, 67, 67) *90
Sale To Listing Ratio: 30% (27%, 22%, 15%, 21%) *30%
Listings that went conditional/pending: 102 (102, 105, 105, 87) *96
Expired/Cancelled/Withdrawn: 97 (81, 269, 215, 83) *71
Total Active Halifax/Dartmouth Inventory: 4,358 (4,328, 4,293, 4,349, 4,284) *4,312
Active Single Family Home: 2,862 (2,852, 2,821, 2,830, 2,785) 2,743
Average Single Family Home List Price: $304,007 ($274k, $287k, $281K, $281k) $311k
Average Single Family Home Selling Price: $293,493 ($265k, $275k, $270k, $272k) $295k
*Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 96%, 97%)
Average Days on Market Single Family Home: 115 (105, 120, 109, 125) *130
Active Condos: 427 (420, 412, 410, 393) *462
Average Condo Listing Price: $253,383 ($242k, $234k, $230k, $227k) *$264k
Average Condo Selling Price: $246,816 ($238k, $223k, $220k, $216k) *$256k
*Condo Sale to List Ratio This Week: 97% (98%, 95%, 96%, 95%)
Average Days on Market Condos: 53 (76, 105, 134, 112) *118
Absorption Rate in weeks: 50 (64, 60, 75, 73) *56
Active Vacant Lots: 816 (801, 800, 848, 844)
One thing is for certain, despite the frigid temps and severe weather we've had lately, buyers are still braving the elements to get out there and shop! Sellers on the other hand seemed a it reluctant to test the waters, with seasonal listing lows heading towards spring. With the positive activity that we have seen so far this year, the overall inventory level has been creeping up to, and finally surpassed, last years reports. Not record breaking by any means though, 2009 holds the current inventory bloat level at a whopping 4,691 products on the market for sale, which is a true representation of the ebb and flow of the Halifax market. The last couple of years have broken these records though in certain months, and I would anticipate this trend is not over yet. I'm just hoping that a few different records get broken instead.
This "lovely lady" is available through Litters N Critters, a non profit rescue organization from Dartmouth, 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.
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 property 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.
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, real estate map? Its a great tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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