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: 252 (304, 281, 411, 312) *300
Sold: 110 (89, 89, 108, 97) *87
Sale To Listing Ratio: 44% (29%, 32%, 26%, 31%) *29%
Listings that went conditional/pending: 85 (122, 94, 90, 122)
Expired/Cancelled/Withdrawn: 133 (140, 124, 373, 129) *128
Total Active Halifax/Dartmouth Inventory: 5,074 (5,165, 5,219, 5,267, 5,441) *4,974
Active Single Family Home: 3,292 (3,371, 3,420, 3,472, 3,592) *3,210
Average Single Family Home List Price: $293,970 ($269k, $271k, $277k, $276k) *$282k
Average Single Family Home Selling Price: $282,972 ($257k, $260k, $267k, $267k) *$272k
*Single Family Home Sale to List Ratio This Week: 96% (95%, 96%, 97%, 97%)
Average Days on Market Single Family Home: 116 (103, 119, 124, 104) *107
Active Condos: 458 (469, 463, 465, 492) *431
Average Condo Listing Price: $250,406 ($266k, $263k, $265k, $266k) *$277k
Average Condo Selling Price: $241,431 ($256k, $255K, $256k, $254k) *$270k
*Condo Sale to List Ratio This Week: 96% (97%, 97%, 97%, 96%)
Average Days on Market Condos: 175 (126, 98, 191, 119) *74
Absorption Rate in weeks: 51 (54, 52, 52, 55)
Active Vacant Lots: 1,007 (1,006, 1,012, 1,005, 1,018)
I suppose when no one was looking, the market ramped up a bit! Hello all, and thank you for stopping by the weekly market rant. Could be the fact that most sellers are looking to hold off until after the Christmas holiday at this point, which kept the new listing additions down, but someone forgot to tell the buyers! The sales to list ratio actually reported an annual high last week, and with buyer activity ramping up in most areas of property products it would appear the last minute shoppers are still out there in force. Values across the board are still reporting lower than the first three quarters of the year, which is not an anomaly for this tim of year. Average days on market stretched a little last week with single family homes waiting almost four months for a sale or expiry, and condos reporting a whopping 6.25 months for their direction. Either way, we are enjoying a little last minute shopping burst here in Halifax, and hopefully, we have not seen the last of it!
Please make sure not to skip over the weekly adogtable this week. I know the holidays are almost here, and it is important now, more than ever, to find loving homes for these lovable animals. Maybe there is a friend out there looking, or a relative wanting the companionship that only a rescue can provide. They truly are amazing, and I would encourage anyone to experience the friendship that only a rescue can give. It can, and does change lives...
Dippy is a 2 year old Am.Staff looking for his perfect home! He is a sweet, goofy guy who loves to play and could afford to lose a few pounds! Dippy would do best in a home with children over the age of 10, as he does jump when excited and can mouth when he is overstimulated. He tested well with our little test dog, a smaller, older female, so if you have a dog in your home, they will have to meet to ensure that everyone gets along. No kitties please! Dippy is great in the bath, being picked up, having his ears cleaned, and his nails trimmed; he has no food bowl issues, and does okay in the kennel, barking for a bit but settling well. Dippy does have food allergies, so a grain-free diet will be necessary; obedience classes will be mandatory for anyone wishing to take Dippy home so stop by and met him today!
This "Fantastic Friend" is available through Homeward Bound City Pound, 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.
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, 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! 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 hay needle? 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 process.
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