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 October 30th to November 6th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 411 (312, 326, 306, 418) *466
Sold: 108 (97, 108, 94, 100) *166
Sale To Listing Ratio: 26% (31%, 33%, 31%, 24%) *37%
Listings that went conditional/pending: 90 (122, 110, 99, 113)
Expired/Cancelled/Withdrawn: 373 (129, 130, 143, 132) *259
Total Active Halifax/Dartmouth Inventory: 5,267 (5,441, 5,485, 5,516, 5,564) *5,029
Active Single Family Home: 3,472 (3,592, 3,625, 3,651, 3,692) *3,319
Average Single Family Home List Price: $276,814 ($276k, $293k, $302k, $310k) *$310k
Average Single Family Home Selling Price: $267,286 ($267k, $281k, $290k, $295k) *$294k
*Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 96%, 95%)
Average Days on Market Single Family Home: 124 (104, 101, 87, 104) *111
Active Condos: 465 (492, 505, 508, 511) *407
Average Condo Listing Price: $264,566 ($266k, $248k, $248k, $246K) *$216k
Average Condo Selling Price: $255,500 ($254k, $237k, $240k, $239k) *$209k
*Condo Sale to List Ratio This Week: 97% (96%, 96%, 97%, 97%)
Average Days on Market Condos: 191 (119, 98, 110, 117) *123
Absorption Rate in weeks: 52 (55, 52, 49, 46) *
Active Vacant Lots: 1,005 (1,018, 1,015, 1,017, 1,017)
Bad to worse? All indicators are showing that our market has continued its decline, as well as show no real signs of improvement. Although listings weren't as plentiful as last year, our sales are well below what was reported last week in comparison, which tanked the sales to list ratio with a 11 point drop. Fairly interesting showing from the expired/cancelled/withdrawn pile this week, with a whopping 373 properties that have decided to throw in in towel. As frequent readers will already know, there is a beginning of the month expire/list event that distorts the stats for that week, but this week is quite beyond. I'll be interested to see how many of those listing return to market next week to attempt the winter market. Stay tuned for the October monthly wrap up, sure to be interesting...
Dippy is a 2 year old Am.Staff looking for his perfect home! He is a sweet, goofy guy who loves to play and could afford to lose a few pounds! Dippy would do best in a home with children over the age of 10, as he does jump when excited and can mouth when he is overstimulated. He tested well with our little test dog, a smaller, older female, so if you have a dog in your home, they will have to meet to ensure that everyone gets along. No kitties please! Dippy is great in the bath, being picked up, having his ears cleaned, and his nails trimmed; he has no food bowl issues, and does okay in the kennel, barking for a bit but settling well. Dippy does have food allergies, so a grain-free diet will be necessary; obedience classes will be mandatory for anyone wishing to take Dippy home so stop by and met him today!
This "sassy stud" 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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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 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