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 September 18th to September 25th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 393 (423, 480, 439, 447) *423
Sold: 133 (123, 105, 110, 135) *110
Sale To Listing Ratio: 34% (30%, 22%, 25%, 30%) *26%
Listings that went conditional/pending: 117 (116, 136, 126, 128)
Expired/Cancelled/Withdrawn: 169 (146, 141, 311, 136) *137
Total Active Halifax/Dartmouth Inventory: 5,695 (5,730, 5,731, 5,667, 5,813) *5,465
Active Single Family Home: 3,803 (3,830, 3,827, 3,780, 3,879) *3,623
Average Single Family Home List Price: $273,703 ($303k, $306k, $300k, $324k) *$283k
Average Single Family Home Selling Price: $260,590 ($292K, $297k, $287k, $311k) *$273k
*Single Family Home Sale to List Ratio This Week: 95% (96%, 97%, 96%, 96%)
Average Days on Market Single Family Home: 125 (105, 120, 113, 117, 114) *105
Active Condos: 526 (524, 521, 516, 549, 545) *419
Average Condo Listing Price: $257,720 ($253k, 265k, $246k, $243k) *$289k
Average Condo Selling Price: $249,624 ($244k, $257k, $233k) *$281k
*Condo Sale to List Ratio This Week: 97% (96%, 97%, 97%, 96%)
Average Days on Market Condos: 109 (100, 84, 103, 86) *80
Absorption Rate in weeks: 48 (48, 47, 47, 48) *58
Active Vacant Lots: 1,023 (1,029, 1,028, 1,022, 1,021, 968)
Looks like things are back to annual grand standards. Hello everyone, and thank you for stopping by the blog! This week looks like things may return to the normal yearly activity as listings are down, single family home and condo inventory are down, and well...everything is down. Well, except sales and prices. Surprisingly, this week, the average home list and sell fell under the 300K mark for the first time in a while, as the previous months have lead with an over 300K initial list price. AS the summer months taper off, and the majority of the annual market in the rearview, it would be good to mark down if things are destined to continue on the downward trend, or will this year be the last of decline. One can only hope as we head to the quiet winter months of the market, and head to what hopes to be a turnaround year in the forecast.
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Terrier, American Staffordshire/Mix
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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 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. 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..
Photo's by Jeremiah