The Halifax Real Estate Blog Weekly Market Rant and Statistics Report, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Statistic Update for the Week of May 25th - June 1st, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 387 (416, 400, 420, 485) *382
Sold: 180 (178, 213, 203, 174) *171
Sale To Listing Ratio: 47% (43%, 53%, 48%, 36%) *45%
Price Changes: 248 (191, 209, 236, 228) *333
Listings that went conditional/pending: 248 (213, 203, 241, 230) *208
Expired/Cancelled/Withdrawn: 218 (64, 99, 93, 308) *231
Total Active Halifax/Dartmouth Inventory: 4,862 (4,947, 4,860, 4,776, 4,700) *5,319
Absorption Rate in weeks: 25 (26, 26, 28, 29) *35
Single Family Home Stats
Active Single Family Home: 2,987 (3,026, 2,971, 2,918, 2,850) *3,576
Average Single Family Home List Price: $326,035 ($324k, $339k, $330k, $357k) *$297k
Average Single Family Home Selling Price: $316,462 ($315k, $329k, $321k, $344k) *$288k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $278,944 ($279k,$275k,$280k,$280k)*$276k
Median Single Family Home Sold Price (6 mo): $270,000 ($270k,$269k,$273k,$273k)*$272k
Average Days on Market Single Family Home: 60 (70, 65, 68, 86) *81
Active Condos: 481 (505, 504, 496, 500) *478
Average Condo Listing Price: $289,466 ($261k, $252k, $206k, $267k) *$225k
Average Condo Selling Price: $281,214 ($249k, $243k, $196k, $257k) *$218k
Condo Sale to List Ratio This Week: 97% (96%, 96%, 96%, 96%) 97%
Median Condo List Price (6 mo): $229,900 ($230k, $228k, $225k, $225k) *$200k
Median Condo Sold Price (6 mo): $220,000 ($220k, $216k, $215k, $216k) *$188k
Average Days on Market Condos: 150 (151, 98, 52, 70, 95) *42
Active Vacant Lots: 1,145 (1,158, 1,128, 1,104, 1,102) *1,023
The weather here in Halifax is starting to heat up (finally), and our already hot market turns up the dial a few degrees in this weeks market rant! There's quite a few familiar, or similar, statistics on par with last year at this time, but there are certainly more positive indicators that can be found the year. Although new listings and sales numbers match, buyer activity, as reported by the listings that went pending, and overall values are way up compared to last year. Days on market, price reductions and expiries are down, but I wonder if that is because the overall reduced inventory we have seen this year so far. Speaking of inventory, this week joins several others this year contradicting the trend of the Spring overload with another reduction week. This one was quite significant as well. Sure, the beginning/first of the month churn still takes place, but it seems as though many of the expired/cancelled listings did not return to the market this week, lessening the effect of that trend. With reduced and reducing inventory, and surging buyer activity, without more sellers giving up their property for additional options, buyers continue to experience a market with less options. Again, great for sellers overall, but buyers might be finding themselves blanked by the current market state. Certainly felt across the industry here, and I wonder how long the trend will hold, and just how far it will go. Stay tuned to find out, and thanks for stopping by!
Luna is ready for fun!
Meet 2 year old Am Staff Mix Luna. Luna is on a grain free diet. She is very happy and fit. Very loving and fun gal but sometimes anxious with dogs visiting her home so we are seeking a pet free, young child free home for her. Mandatory enrollment in training for bonding and safe socialization.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE
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. Don't forget to bookmark my page, and visit often!
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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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah