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 April 20th - April 27th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 432 (295, 402, 416, 306) *393
Sold: 167 (132, 174, 141, 112) *155
Sale To Listing Ratio: 37% (45%, 43%, 34%, 37%) *39%
Price Changes: 200 (145, 164, 166, 156) *193
Listings that went conditional/pending: 214 (159, 173, 176, 145) *182
Expired/Cancelled/Withdrawn: 144 (89, 115, 230, 73) *106
Total Active Halifax/Dartmouth Inventory: 4,755 (4,686, 4,686, 4,596, 4,577) *4,961
Absorption Rate in weeks: 31 (34, 34, 38, 43) *37
Single Family Home Stats
Active Single Family Home: 2,881 (2,817, 2,805, 2,733, 2,696) *3,333
Average Single Family Home List Price: $329,874 ($350k, $320k, $298k, $313k) *$302k
Average Single Family Home Selling Price: $320,110 ($338k, $309k, $287k, $305k) *$293k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $279,900 ($280k, $275k, $275k, $278k)*$277k
Median Single Family Home Sold Price (6 mo): $270,000 ($270k,$268k,$266k,$268k)*$271k
Average Days on Market Single Family Home: 100 (86, 85, 115, 89) *98
Active Condos: 499 (468, 463, 466, 465) *446
Average Condo Listing Price: $269,100 ($236k, $249k, $224k, $252k) *$275k
Average Condo Selling Price: $260,911 ($231k, $234k, $215k, $244k) *$267k
Condo Sale to List Ratio This Week: 98% (98%, 95%, 96%, 97%) 97%
Median Condo List Price (6 mo): $224,950 ($224k, $224k, $220k, $225k) *$283k
Median Condo Sold Price (6 mo): $215,000 ($215k, $215k, $215k, $215k) *$271k
Average Days on Market Condos: 95 (162, 161, 70, 56, 87) *75
Active Vacant Lots: 1,125 (1,168, 1,164, 1,154, 1,174) *949
April listings bring May buyers? Well that doesn't rhyme... Hello everyone, and welcome the the Halifax Real Estate Blog's weekly market rant! That listing reluctance that I have been talking about over the past few weeks certainly slowed down this week. This week witnessed the highest new additions to the market of the year so far, but it was a bit of a mixed report. Where single family homes witnessed the largest gain in numbers, condos actually gained more in percentage (+6% vs sfh 3%). In another odd event, vacant land numbers reduced again this week, but this time quite considerably. Where land has been on the slow incline over the past few years, as of late it's actually been reducing, this week by -4%. Doesn't seem like much, but it's certainly enough to raise an eyebrow and wonder what may be happening to that market. I talked a few weeks back about the financing aspect of land purchase, so that could be contributing to its lack of saleability, or, things are starting to move. Speaking of, Sellers are starting to do the same thing...move! Spring is FINALLY starting to warm up, and so too is the market. More selection has started to relieve the Buyer build-up that has been developing, and certainly, Sellers across the board must have felt the welcoming of an active Spring market. As that pressure is relieved however, late starters to the market may find themselves without a dance partner, so if you where thinking of listing, it might be a good idea to get your property on the market sooner than later. Thanks for stopping by!
Louie the Amstaff mix is looking for a new home to call is own. This guy hasn't really been exposed to much in life, so he will need an experienced dog owner that can show him how to properly behave, with the following home requirements:
-A home free of other animals (cats, dogs, rabbits), as he lacks socialization
-A home with children over the age of 15
-Obedience training mandatory
-Living an active lifestyle
Louie is a very smart boy, who listens well with commands but does need time to build a bond with his new owner. He should be taken out for walks frequently since he has lots of energy to burn. If you're interested in Louie, visit him during our adoption hours: Mon-Fri 2pm-6pm and Sat-Sun 12pm-3pm.
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, 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!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah