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 5th - February 12th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 339 (426, 447, 325, 363) *333
Sold: 93 (95, 67, 67, 60) *107
Sale To Listing Ratio: 27% (22%, 15%, 21%, 17%) *32%
Listings that went conditional/pending: 102 (105, 105, 87, 64) *88
Expired/Cancelled/Withdrawn: 81 (269, 215, 83, 92) *78
Total Active Halifax/Dartmouth Inventory: 4,328 (4,293, 4,349, 4,284, 4,212) *4,277
Active Single Family Home: 2,852 (2,821, 2,830, 2,785, 2,737) 2,741
Average Single Family Home List Price: $274,287 ($287k, $281K, $281k, $318k) $313k
Average Single Family Home Selling Price: $264,910 ($275k, $270k, $272k, $305k) $306k
*Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 97%, 96%)
Average Days on Market Single Family Home: 105 (120, 109, 125, 144) *108
Active Condos: 420 (412, 410, 393, 384) *449
Average Condo Listing Price: $242,284 ($234k, $230k, $227k, $241k) *$273k
Average Condo Selling Price: $237,816 ($223k, $220k, $216k, $232k) *$268k
*Condo Sale to List Ratio This Week: 98% (95%, 96%, 95%, 96%)
Average Days on Market Condos: 76 (105, 134, 112, 145) *127
Absorption Rate in weeks: 64 (60, 75, 73, 68) *63
Active Vacant Lots: 801 (800, 848, 844, 835)
Well, we won't get a repeat of last weeks activity, but stats are continuing to head in a good direction. With a good showing of sales this week, the sales to list ratio climbed five points to our high point thus far. Although sales are slightly down from last year, the conditional/pending pile is indicating continued encouragement to the sales stat. Values took a bit of a snip these week and are still reporting a little lower overall from the last calendar year, which is good considering the overinflation of many products on the market at that time. Old man winter may try to put a damper on things now and in the coming weeks, but it seems that there is still interest in pushing though it by buyers. For those looking to list in the Spring market, now is the time to start your due diligence and preparations for the listing season. Competition is sure to be fierce, and I'm sure many will be interested to see how the summer plays out. I know I am.
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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 property 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.
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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