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 25th to October 2nd 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 407 (393, 423, 480, 439) *445
Sold: 123 (133, 123, 105, 110) *108
Sale To Listing Ratio: 30% (34%, 30%, 22%, 25%) *30%
Listings that went conditional/pending: 107 (117, 116, 136, 126)
Expired/Cancelled/Withdrawn: 340 (169, 146, 141, 311) *413
Total Active Halifax/Dartmouth Inventory: 5,530 (5,695, 5,730, 5,731, 5,667) *5,276
Active Single Family Home: 3,684 (3.803, 3,830, 3,827, 3,780) *3,547
Average Single Family Home List Price: $283,449 ($274k, $303k, $306k, $300k) *$289k
Average Single Family Home Selling Price: $271,748 ($260k, $292K, $297k, $287k) *$280k
*Single Family Home Sale to List Ratio This Week: 96% (95%, 96%, 97%, 96%)
Average Days on Market Single Family Home: 118 (125, 105, 120, 113) *105
Active Condos: 507 (526, 524, 521, 516, 549) *405
Average Condo Listing Price: $248,391 ($258k, $253k, 265k, $246k) *$291k
Average Condo Selling Price: $240,715 ($250k, $244k, $257k, $233k) *$283k
*Condo Sale to List Ratio This Week: 97% (97%, 96%, 97%, 97%)
Average Days on Market Condos: 109 (109, 100, 84, 103) *120
Absorption Rate in weeks: 86 (48, 48, 47, 47) *69
Active Vacant Lots: 1,005 (1,023, 1,029, 1,028, 1,022)
To coincide with the continuation of inventory decline, it would appear that this trend follows annually, with October being the most significant contributor to this statistic. Known for pumpkins, scary costumes, Thanksgiving and the turn of weather, October is also the leader of inventory reduction. With the cold weather and so many significant holidays looming, it is no wonder why weary home sellers and buyers look to pull from the dreary fall market and concentrate on renewed efforts in the sunny spring. While all of these listings pull from the market however, you will see a good chunk of properties actually listed last week, looking to beat out the stale listings, and move to the forefront of buyers interest. Can't say I blame home sellers for listing at this time of year. Although a small window of opportunity, it is still a window, and something more than we have seen all year long. Don't forget to check back later in the week to review the September monthly wrap up!
Hi, I'm Akon! I'm a super sweet boy, looking for my furever home. My new parents will need to enrol me in obedience classes and make sure I get lots of exercise! I would like a home where I can be the king of the castle, no other dogs, kitties or children for me please. I also need my new parents to be aware that I do have food sensitivities so I will need a special diet. If you think I could be a good fit for your family, please come visit :)
Terrier, American Staffordshire/Mix
This "Friendly Fella" is available through Homeward Bound City Pound, 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.
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The ViewPoint Realty Map
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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