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 11th - February 18th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 254 (252, 265, 290, 274) *304
Sold: 95 (86, 101, 104, 68) *92
Sale To Listing Ratio: 37% (34%, 38%, 36%, 25%) *30%
Price Changes: 121 (103, 152, 136, 136)
Listings that went conditional/pending: 117 (115, 117, 135, 137) *102
Expired/Cancelled/Withdrawn: 104 (115, 132, 139, 128) *97
Total Active Halifax/Dartmouth Inventory: 4,261 (4,211, 4,183, 4,244, 4,228) *4,358
Absorption Rate in weeks: 44 (47, 49, 58, 62) *50
Single Family Home Stats
Active Single Family Home: 2,739 (2,723, 2,703, 2,752, 2,755) *2,862
Average Single Family Home List Price: $274,319 ($298k, $274k, $249k, $261k) *$304k
Average Single Family Home Selling Price: $260,438 ($285k, $261k, $241k, $252k) *$294k
Single Family Home Sale to List Ratio This Week: 95% (96%, 95%, 97%, 97%) *97%
Median Single Family Home List Price: $249,900 ($260k, $250k, $225k, $247k)
Median Single Family Home Sold Price: $236,950 ($255k, $240k, $223k, $243k)
Average Days on Market Single Family Home: 105 (122, 131, 107, 137) *115
Active Condos: 394 (379, 375, 376, 361) *427
Average Condo Listing Price: $260,328 ($282k, $241k, $236k, $231k) *$253k
Average Condo Selling Price: $251,900 ($277k, $233k, $227k, $220k) *$247k
Condo Sale to List Ratio This Week: 97% (98%, 97%, 96%, 95%) *97%
Median Condo List Price: $219,900 ($276k, $219k, $222k, $230k)
Median Condo Sold Price: $214,900 ($265k, $209k, $217k, $215k)
Average Days on Market Condos: 126 (159, 140, 95, 110) *53
Active Vacant Lots: 900 (882, 874, 887, 886) *816
Kind of a ho-hum week this week. Nothing to "out of the ordinary", but it does appear that the current trend is holding. Listings continue to report lower than last year at this time and the overall inventory is also reporting lower, and actually, the inventory gap is widening in the opposite direction for once. Whether the lack of inventory additions, met with the increase of buyer activity has changed things, but this market trend has definitely proven itself above an overnight affair. Sale prices continue to report lower and first time home products are still the dominant property being transacted, so what may appear to be a price correction could just be the case of lower valued properties being sold. In any case, the start of the year has proven to be a good one, and one that I'm sure has many eyes focused on the area. Thanks for stopping by!
Don't miss the monthly wrap up report for January 2016, simply scroll down to check out how the first month of the year placed!
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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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Newest Blog post HERE
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