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 19th - March 5th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 384 (295, 304, 339, 426) *484
Sold: 92 (99, 92, 93, 95) *98
Sale To Listing Ratio: 24% (34%, 30%, 27%, 22%) *20%
Listings that went conditional/pending: 117 (88, 102, 102, 105) *146
Expired/Cancelled/Withdrawn: 134 (52, 97, 81, 269) *159
Total Active Halifax/Dartmouth Inventory: 4,373 (4,369, 4,358, 4,328, 4,293) *4,400
Active Single Family Home: 2,853 (2,857, 2,862, 2,852, 2,821) 2,850
Average Single Family Home List Price: $298,625 ($397k, $304k, $274k, $287k) $275k
Average Single Family Home Selling Price: $290,738 ($287k, $294k, $265k, $275k) $268k
*Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 96%)
Average Days on Market Single Family Home: 122 (134, 115, 105, 120) *125
Active Condos: 446 (432, 427, 420, 412) *446
Average Condo Listing Price: $255,837 ($267k, $253k, $242k, $234k) *$268k
Average Condo Selling Price: $247,983 ($256k, $247k, $238k, $223k) *$254k
*Condo Sale to List Ratio This Week: 97% (96%, 97%, 98%, 95%)
Average Days on Market Condos: 62 (110, 53, 76, 105) *131
Absorption Rate in weeks: 47 (46, 50, 64, 60) *58
Active Vacant Lots: 821 (830, 816, 801, 800)
Looks like a bit of "back and forth" is taking place between this year and last. Despite starting off on a good foot in the inventory department, this year was a slow starter that has ended up surpassing last years inventory margins in the last few weeks. However, this week, the inventory did not put up as many listings as last year this time, so the overall outlook appears a bit brighter. This could be largely in part to the different weather that we had last year at this time, or it could be just a drag of the feet to get involved in the market. Either way, the longer the inventory recedes, the better. Still, there is a lot of buzz going on in the various real estate offices, and activity is surprisingly steady and upbeat despite the weather (just take a look at the conditionals this week). Good momentum so far this year, and it doesn't look like it's one of those "one and done" type of scenarios. Be sure to follow along as I track what is sure to be an interesting year!
Astryd is in need of a foster/adopter she comes with a wonderful story she is originally from within Canada and saved from BSL. She was in a foster home but due to circumstances beyond her control, she finds herself needing a new foster or forever adopter. She is currently in a home with two young boys 8 and 4, and is very loving and all butt wiggles. She knows some basic commands, but will jump up to get kisses. This is urgent because she is currently in temporary foster with 4 other dogs, but she is not dog friendly and is being separated at all times. With some right training and hard work she has the potential to get along with submissive dogs but this is something that needs to be worked on, so she does require a pet free home. She is spayed, vaccinated, and microchipped. Astryd has spent two nights where she is now and was quiet in her crate all night, is house and kennel trained, and does not seem to chew on anything except for her toys.
This "lovely lady" is available through Buddy's Bully Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about her, 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 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah