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 March 20th-March 27th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 387 (422, 503, 484, 336) *446
Sold: 97 (122, 125, 98, 92) *144
Sale To List Ratio: 25% (29%, 26%, 20%, 27%) *32%
Listings that went conditional/pending: 110 (136, 139, 146, 107)
Expired/Cancelled/Withdrawn:  75 (109, 88, 159, 72) *43
Total Active Halifax/Dartmouth Inventory:  4,611 (4,541, 4,506, 4,400, 4,339) *4,542
Active Single Family Home: 3,037 (2,960, 2,938, 2,850, 2,775) *2,992
Average Single Family Home List Price:  $287,785 ($301,034, $276,316, $275,268, $308,998) *288k
Average Single Family Home Selling Price:  $277,215 ($290,534, $266,136, $268,132, $292.028) *281k
Average Days On  Market Single Family Home: 89 (112, 108, 125, 124) *82
Active Condos:  475 (470, 461, 446, 455) *336
Average Condo Listing Price:  $236,232 ($250,670, $232.800, $267,500, $247,887) *262k
Average Condo Selling Price:  $230,776 ($241,520, $223,278, $253,966, $241,324) *254k
Average Days On Market Condos:  112 (92, 178, 131, 73) *71
Halifax/Dartmouth Absorption Rate (weeks):  102 (101, 94, 89, 58) *46

MARKET RANT
The Spring market has arrived, but it seems to be reflective of a winter market in both statistical and weather aspects. Although the cold weather has stuck around a little long this year, sellers haven't wasted any time on getting their properties on, or back on, the market. Once again, total inventory has risen beyond last years reports in all areas. Just looking at the condo figures alone, there are 142 more on the market this year then last, and 226 more then two years ago. Single family stats aren't as drastic in gains, but we have 45 more properties then last, and a whopping 480 then two years ago at this time. The things that haven't changed much in the last few years is the sales rate, and the inventory percentage gain. SFH values remain steady around the $285k mark, and condos average around $245k. The average shelf time for a property is still higher then last year, and the absorption rate has actually doubled from last year. Sounds like the same "doom and gloom" that you would expect to read on the blog, but the time of sugar-coating the truth about the market has long since passed. When the market does turn around have no doubts that I will be the first one pointing out the indicators, until then, I will report what is really happening out there. As long as readers such as you keep coming back to get the updates, I will gladly keep the reports coming! Thank you to all my loyal HREB visitors, old and new!

WEEKLY ADOGTABLE
Hi, I'm Tanner! The girls say I'm super cute, especially when I carry my ball around everywhere. I love to play, and run around with my toys. I like other doggies, and I'm fine with kitties 
Weight: 28kg/61lbs
MORE ABOUT TANNER
House trained • Spayed/Neutered • Shots Current

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
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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 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.


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