The Halifax Real Estate Blog Weekly Market Rant and Statistics Report by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of February 27th-March 6th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 484 (336, 304, 333, 405) *491
Sold: 98 (92, 90, 107, 61) *89
Sale To List Ratio: 20% (27%, 30%, 32%, 15%) *18%
Listings that went conditional/pending: 146 (107, 96, 88, 129)
Expired/Cancelled/Withdrawn: 159 (72, 71, 78, 168) *156
Total Active Halifax/Dartmouth Inventory: 4,400 (4,339, 4,312, 4,277, 4,440) *4,163
Active Single Family Home: 2,850 (2,775, 2,743, 2,741, 2,850) *2,735
Average Single Family Home List Price: $275,268 ($308,998, $310,882, $313,026, $306,392) *307k
Average Single Family Home Selling Price: $268,132 ($292.028, $294,628, $305,798, $296,392) *300k
Average Days On Market Single Family Home: 125 (124, 130, 108, 98) *98
Active Condos: 446 (455, 462, 449, 442) *313
Average Condo Listing Price: $267,500 ($247,887, $263,776, $272,556, $267,556) *210k
Average Condo Selling Price: $253,966 ($241,324, $255,527, $268,300, $230,212) *203k
Average Days On Market Condos: 131 (73, 118, 127, 107) *89
Halifax/Dartmouth Absorption Rate (weeks): 89 (58, 56, 63, 55) *48
Slightly better then last year in most areas, but lacking in some key areas. Hello everyone and thank you for taking time out to stop by the Halifax Real Estate Blog, hosted by Jeremiah Wallace of ViewPoint Realty! A lot of comparable stats from last year, new listings are almost on par, as well as sales and the sales to list ratio. Even the expired/cancelled/withdrawn bucket is 3 units away from match! Inventory is slightly lower then this time last year, but it too is really close to being on par as well, except for condo's that is. Condo's spread year over year continues to increase. Could be the addition of all those brand new condo developments on the market, drawing would be buyers away from resale properties. There just really seems to be a stall with condo's in HRM, regardless of location. Another big difference from last year is the days on market. Slowly but surely this statistic has been slowly creeping up, and the wait is getting longer to sell. Absorption rate took a beating this week as well due to the flood of new listings, and sub par sales. Make sure to stop by this week for the monthly wrap up and see how February compared. 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..
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