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Expired/Cancelled/Withdrawn:  159 (72, 71, 78, 168) *156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

MARKET RANT
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 Even the expired/cancelled/withdrawn bucket is 3 units away from match!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!

WEEKLY ADOGTABLE
Hello!! My name is Capone  I'm a very happy boy and I love to play! I like other dogs, people, and I don't really mind kitties. I would love to find my new home...is it with you?
This peppy fella 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.

ViewPoint Realty
Are you familiar with ViewPoint Realty? How about the ViewPoint 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 is now more rewarding then ever to become a ViewPoint Client. 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!

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 leave a public comment or question below. 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.


Newest blog post HERE

---