The Halifax Real Estate Blog Weekly Market Rant and Statistic Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Market Statistic Update for the Week of July 21st - July 28th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 294 (319. 302, 332, 403) *335
Sold: 156 (138, 139, 128, 165) *136
Sale To Listing Ratio: 53% (43%, 46%, 37%, 41%) *41%
Price Changes: 247 (289, 290, 227, 287) *302
Listings that went conditional/pending: 179 (167, 171, 138, 170) *180
Expired/Cancelled/Withdrawn: 118 (119, 105, 306, 161) *117
Total Active Halifax/Dartmouth Inventory: 5,519 (5,528, 5,494, 5,470, 5,518) *5,991
Absorption Rate in weeks: 39 (39, 37, 35, 33) *43
Single Family Home Stats
Active Single Family Home: 3,637 (3,670, 3,665, 3,633, 3,652) *4,092
Average Single Family Home List Price: $334,515 ($320k, 292k, $298k, $296k) *$304k
Average Single Family Home Selling Price: $319,094 ($291k, $282k, $287k, $287k) *$281k
Single Family Home Sale to List Ratio This Week: 95% (96%, 97%, 96%, 97%) *92%
Median Single Family Home List Price: $279,900 ($275k, $275k, $270k, $260k) *$290k
Median Single Family Home Sold Price: $274,500 ($265k, $268k, $265, $252k) *$271k
Average Days on Market Single Family Home: 86 (96, 87, 80, 73) *113
Active Condos: 504 (495, 483, 492, 504) *522
Average Condo Listing Price: $234,861 ($273k, $278k, $263k, $235k) *$263k
Average Condo Selling Price: $227,272 ($264k, $270k, $255k, $226k) *$237k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 97%, 96%) *96%
Median Condo List Price: $228,700 ($230k, $230k, $255k, $218k) *240k
Median Condo Sold Price: $225,000 ($225k, $225k, $237k, $205k) *230k
Average Days on Market Condos: 86 (46, 72, 84, 176) *68
Active Vacant Lots: 1,095 (1,084, 1,073, 1,074, 1,094) *1,070
The Summer is when I predicted that we would see the full impact from the activity that we experienced starting in November of last year, and things are starting to align. I'll start with our inventory, which is down over 450 products from this time last year with single family homes leading the way with over 400 less properties on the market this year. That is quite the feat! The sales week over week are performing better, as well, the sales to list ratio has also bested last year on average. There are a couple of things that remain at parody (or close to) however, stats such as expired/cancelled listings, days on market, and buyer activity...this week anyways. Values are holding strong and buyer activity is still up, so comparably, things should continue to improve for the market here in Halifax this year. Stay tuned to find out! Thanks for stopping by!
Rocko is a spunky 8 year old amstaff searching for a home to call his own. This boy LOVES making new people friends; he will roll around on the ground and wag his tail with so much enthusiasm, it almost becomes whip like! Rocko knows many different tricks: sit, paw, down, crawl, spin and even speak! This handsome boy is extremely food motivated so training would be easy peasy. Rocko loves chasing the laser pointer around and could do this for hours, such great entertainment for everyone around. We are recommending that Rockos new home have no other animals and kids over the age of 7 just where he is quite excitable and can be jumpy. If you're interested in meeting this beautiful boy, come on by during our adoption hours today :)
This "cuddly companion" is available through the Homeward Bound City Pound, a non profit rescue organization from Dartmouth, Nova Scotia. More info about him, 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 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. Don't forget to bookmark my page, and visit often!
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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