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 December 8th-15th, 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 115 (194, 243, 218, 227) *247
Sold: 89 (96, 99, 111, 117) *82
Sale To Listing Ratio: 77% (50%, 41%, 51%, 52%) *43%
Price Changes: 96 (116, 129, 165, 126) *121
Listings that went conditional/pending: 81 (99, 111, 116, 102) *100
Expired/Cancelled/Withdrawn: 121 (385, 340, 137, 140) *311
Total Active Halifax/Dartmouth Inventory: 4,482 (4,554, 4,641, 4,817, 4,859) *4,850
Absorption Rate in weeks: 45 (43, 42, 42, 43) *45
Single Family Home Stats
Active Single Family Home: 2,638 (2,690, 2,767, 2,904, 2,964) *3,144
Average Single Family Home List Price: $286,364 ($299k, $321k, $318k, $296k) *$303k
Average Single Family Home Selling Price: $274,257 ($287k, $310k, $303k) *$290k
Single Family Home Sale to List Ratio This Week: 96% (96%, 97%, 96%, 95%) *96%
Median Single Family Home List Price (6 months): $279,900 ($280k, $280k, $280k, $280k) *$256k
Median Single Family Home Sold Price (6 months): $270,000 ($271k, $272k, $273k, $274k) *$249k
Average Days on Market Single Family Home: 118 (90, 125, 94, 93) *110
Active Condos: 437 (449, 460, 480, 483) *408
Average Condo Listing Price: $235,355 ($274k, $262k, $226k, $305k) *$219k
Average Condo Selling Price: $222,366 ($260k, $258k, $220k, $289k) *$208k
Condo Sale to List Ratio This Week: 95% (95%, 98%, 97%, 95%) 95%
Median Condo List Price (6 months): $229,900 ($230k, $230k, $230k, $230k) *247k
Median Condo Sold Price (6 months): $224,000 ($222k, $222k, $222k, $225k) *237k
Average Days on Market Condos: 106 (63, 74, 96, 61, 160) *91
Active Vacant Lots: 1,134 (1,137, 1,137, 1,155, 1,138) *941
Getting close to Christmas, and with the holidays quickly approaching, there's last minute shopping for gifts and property! Sales are slightly up from our improving market of last year, but new listings are way down, which has been the story of this market year. At the beginning of the year, it seemed like the market was a bit slow to wake up, and Sellers where just biding their time until the Spring market when things heat up. When the Spring market finally came, the anticipated rush of listings never fully came, leaving the question of "where did the Sellers go?". Maybe the past few years of selling market woes had turned some Sellers away, or maybe there was just fewer folks that needed to sell their property this year. In any case, the fewer amount of new additions was noticed, and felt mostly by Buyers in the market. The sales year reported much improved as well, but it still hasn't made the impact you might expect. Even with the improved market, the absorption rate has paralleled last year for the most part of the year. So even though sales have improved, and there is less to choose from, it would still take the same amount of time to sell off our current inventory compared to this time last year. Interesting times indeed, and I will be reporting the overall market year in January, so make sure to stop by! Thanks for visiting!
Harry is a lovely boy who is searching for a home to call his own. Handsome Harry is quite dominant when it comes to other dogs and can be a little pushy - he would be better suited with a submissive dog to thrive. He can be nervous of cats, but with the right introduction it could work out nicely! He seems to be sceptical of all new things, so he will need a family that has lots of patience to help him learn that not everything is scary. Harry can get quite excited and a little pushy so only children 12 & over for this guy, please! Obedience classes are mandatory for Harry as he tends to be quite interested in everything around him rather than people, so building that bond through training will be key to success!
Come on by and meet Harry today.
This "cuddly companion" is available through 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
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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