The Halifax Real Estate Blog Weekly Market Rant and Statistics Report by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of February 19th to February 26th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 295 (304, 339, 426, 447) *336
Sold: 99 (92, 93, 95, 67) *92
Sale To Listing Ratio: 34% (30%, 27%, 22%, 15%) *27%
Listings that went conditional/pending: 88 (102, 102, 105, 105) *107
Expired/Cancelled/Withdrawn: 52 (97, 81, 269, 215) *72
Total Active Halifax/Dartmouth Inventory: 4,369 (4,358, 4,328, 4,293, 4,349) *4,339
Active Single Family Home: 2,857 (2,862, 2,852, 2,821, 2,830) 2,775
Average Single Family Home List Price: $296,520 ($304k, $274k, $287k, $281K) $309k
Average Single Family Home Selling Price: $287,322 ($294k, $265k, $275k, $270k) $292k
*Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 96%, 96%)
Average Days on Market Single Family Home: 134 (115, 105, 120, 109) *124
Active Condos: 432 (427, 420, 412, 410) *455
Average Condo Listing Price: $267,011 ($253k, $242k, $234k, $230k) *$248k
Average Condo Selling Price: $256,168 ($247k, $238k, $223k, $220k) *$241k
*Condo Sale to List Ratio This Week: 96% (97%, 98%, 95%, 96%)
Average Days on Market Condos: 110 (53, 76, 105, 134) *73
Absorption Rate in weeks: 46 (50, 64, 60, 75) *58
Active Vacant Lots: 830 (816, 801, 800, 848)
As our weather continues to put the freeze on our fair city, the real estate market seems to be trucking along with hardly a blink. There are a few stats that you could probably blame, at least partially, on the slick roads and frigid temps, but the overall outlook is persevering. Sales had solid showing this week, as did the number of listings that went conditional, which means there is still life out there mucking through the ice covered walkways to venture into that potential property. Listings, again, where a little on the shy side comparably, but even with the reduced amount of new listings this week put us above last years inventory in all marked products. Sale prices, however, took a little knock at the knees, and the days on market for both products averaged around the four month mark. Hopefully, the sun will be out soon enough to melt the white stuff away for the year, to heat up the city, and hopefully, our market.
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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 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