The Halifax Real Estate Blog Weekly Market Rant and Statistics Report, by Jeremiah Wallace of ViewPoint Realty (Thursdays)
Halifax (HRM) Residential Statistic Update for the Week of March 21st - March 28th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 291 (260, 251, 330, 189) *280
Sold: 155 (139, 146, 126, 111) *112
Sale To Listing Ratio: 53% (55%, 58%, 38%, 59%) *45%
Price Changes: 105 (69, 101, 100, 82) *119
Listings that went conditional/pending: 190 (161, 169, 165, 167) *154
Expired/Cancelled: 67 (75, 61, 102, 54) *66
Total Active Halifax/Dartmouth Inventory: 3,181 (3,147, 3,160, 3,150, 3,075) +3,864
Absorption Rate in weeks: 23 (24, 25, 26, 26) *30
Single Family Home Stats
Active Single Family Home: 1,720 (1,688, 1,700, 1,674, 1,629) *2,143
Average Single Family Home List Price: $381,137 ($365k,$337k,$344k,$334k) *$326k
Average Single Family Home Selling Price: $369,972 ($258k,$330k,$337k,$326k) *$315k
Single Family Home Sale to List Ratio This Week: 97% (98%, 98%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $289,900 ($290k,$289k,$290k,$290k)*$279k
Median Single Family Home Sold Price (6 mo):$283,900 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 62 (68, 55, 78, 69) *88
Active Condos: 255 (254, 260, 298, 259) *375
Average Condo Listing Price: $252,228 ($237k, $295k, $226k, $229k) *$232k
Average Condo Selling Price: $245,478 ($228k, $285k, $215k, $221k) *$225k
Condo Sale to List Ratio This Week: 97% (96%, 97%, 95%, 95%) 97%
Median Condo List Price (6 mo): $239,950 ($239k, $240k, $240k, $240k) *$238k
Median Condo Sold Price (6 mo): $232,000 ($230k, $232k, $230k, $231k) *$232k
Average Days on Market Condos: 82 (54, 51, 108, 93) *82
Active Vacant Lots: 948 (938, 939, 932, 911) *1,008
Now that's more like it! Finally, after a few shaky weeks of reduction, the Spring inventory gain gets off the ground with a decent overall increase this week. It's not huge, but it's a start! All tracked products increased their numbers this week, with single family homes seeing the most. Good news for Buyers, but it's going to take a bit more than one week of half decent additions to make an impact for the bulk of them waiting to find the right property. Seems listings weren't the only numbers are the rise, overall sales reported higher than average, and so too did the number of properties that received and accepted offers (pending), the sales to list ratio, and product values across the board. All good things! The numbers you want decreasing are still doing so too, like the absorption rate, time on market, the number of products retreating from the market and most importantly...the absorption rate. So it's back to "business as usual" for the hot Halifax market, so stay tuned to the blog to keep tabs on things as the market season heats up! Thanks for stopping by!
The Weekly Adogtable!
Ninja was found abandoned and no one has claimed him. He is OK with dogs and kids but has not been cat tested as of yet. He exhibits no food aggression with humans or dogs. Extremely affectionate and smiles. Is afraid of men at first (will cower) but comes around. More updates to come as we get to know this cutie patootie.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him and 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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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