The Halifax Real Estate Blog Weekly Market Rant and Property Statistics Update by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of November 13th to November 20th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 304 (281, 411, 312, 326) *314
Sold: 89 (89, 108, 97, 108) *121
Sale To Listing Ratio: 29% (32%, 26%, 31%, 33%) *39%
Listings that went conditional/pending: 122 (94, 90, 122, 110)
Expired/Cancelled/Withdrawn: 140 (124, 373, 129, 130) *148
Total Active Halifax/Dartmouth Inventory: 5,165 (5,219, 5,267, 5,441, 5,485) *4,976
Active Single Family Home: 3,371 (3,420, 3,472, 3,592, 3,625) *3,239
Average Single Family Home List Price: $269,356 ($271k, $277k, $276k, $293k) *$286k
Average Single Family Home Selling Price: $257,123 ($260k, $267k, $267k, $281k) *$268k
*Single Family Home Sale to List Ratio This Week: 95% (96%, 97%, 97%, 96%)
Average Days on Market Single Family Home: 103 (119, 124, 104, 101) *107
Active Condos: 469 (463, 465, 492, 505) *413
Average Condo Listing Price: $265,903 ($263k, $265k, $266k, $248k) *$235k
Average Condo Selling Price: $256,985 ($255K, $256k, $254k, $237k) *$228k
*Condo Sale to List Ratio This Week: 97% (97%, 97%, 96%, 96%)
Average Days on Market Condos: 126 (98, 191, 119, 98) *63
Absorption Rate in weeks: 54 (52, 52, 55, 52) *48
Active Vacant Lots: 1,006 (1,012, 1,005, 1,018, 1,015)
All things considered, things are looking fairly normal, well, as normal as our market here in Halifax can be. I also want to define that "normal" for the market here, means high inventory and low sales. Single family values took another hit this week with a marginal drop for the sixth consecutive week. Is that an indicator stating that property generally sellers for a bit less around this time of year, or that the products that do sell around this time are just a little less expensive. I could get behind the latter, beings that higher end, vacation and luxury property buyers/sellers are generally out there in the warmer months looking for that recreational piece. Lets face it, who wants to be driving around and parading through homes when it's -5 and 50km wind and rain unless you have to. From the balloon of inventory, correction, record high inventory levels this year, it would appear that we are about to cross paths with inventory heights of last year. As the the final months of the year approach, market activity too, starts to hibernate.
Cheeko is a loving 1 year old, 50lb AmStaff/ Boxer mix.
Poor Cheeko has not had a very good life. He is settling in well in his foster home, but this is his 6th home in his short life, so he will need someone who is committed to him for the rest of his life! Cheeko is taking weekly obedience classes so he can learn to be the best puppy he can be. He is doing well with crate and house training, and is learning his basic commands and how to walk well on lead. It is obvious that Cheeko was abused in his past as he is very fearful of things like brooms, and sometimes even men, but he is a good boy who warms up well with a little confidence from his people.
Cheeko's favorite thing to do is roll around in the grass. He is kid/cat/dog friendly but he seems to have an endless amount of energy when he plays and thus will need a patient owner who is committed to teach him how to settle.
Cheeko is neutered, vaccinated, and parasite treated. He is a lovely young boy who will make an excellent dog for an active family who is willing to commit to his training.
This "energetic earl" is available through Buddy's Bully Rescue, 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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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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah