The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, bu Jeremiah Wallace of ViewPoint Realty (Thursdays)
Halifax (HRM) Residential Statistic Update for the Week of May 2nd - May 9th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 401 (378, 329, 359, 363) *379
Sold: 209 (197, 206, 232, 168) *186
Sale To Listing Ratio: 52% (52%, 63%, 64%, 46%) *49%
Price Changes: 177 (171, 139, 135, 141) *204
Listings that went conditional/pending: 261 (273, 186, 250, 246) *191
Expired/Cancelled: 62 (121, 69, 73, 54, 161) *82
Total Active Halifax/Dartmouth Inventory: 3,300 (3,268, 3,312, 3,233, 3,221) +4,088
Absorption Rate in weeks: 16 (16, 18, 18, 21) *23
Single Family Home Stats
Active Single Family Home: 1,878 (1,828, 1,860, 1,798, 1,802) *2,364
Average Single Family Home List Price: $350,285 ($356k,$336k,$323k,$328k) *$348k
Average Single Family Home Selling Price: $344,003 ($348k,$329k,$315k,$337k) *$341k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 103%) *98%
Median Single Family Home List Price (6 mo): $298,450 ($295k,$290k,$290k)*$286k
Median Single Family Home Sold Price (6 mo):$289,900 ($287k,$283k,$284k)*$280k
Average Days on Market Single Family Home: 59 (53, 65, 60, 54) *59
Active Condos: 261 (258, 257, 252, 251) *383
Average Condo Listing Price: $276,255 ($274k, $243k, $251k, $319k) *$265k
Average Condo Selling Price: $271,559 ($266k, $236k, $241k, $323k) *$255k
Condo Sale to List Ratio This Week: 98% (97%, 97%, 96%, 101%) 97%
Median Condo List Price (6 mo): $244,900 ($248k, $246k, $250k, $248k) *$235k
Median Condo Sold Price (6 mo): $239,000 ($241k, $241k, $245k, $241k) *$225k
Average Days on Market Condos: 46 (60, 65, 69, 76) *41
Active Vacant Lots: 934 (931, 936, 926, 927) *993
And we're back on track...again! Inventory took a small step this week in the northern direction, which should come as a bit of relief to buyers currently on the market. Although listings seem to be trickling to market this week, they are also coming to market and being met with a surplus of buyers that have been looking for the right fit. We crested the 400 market for new additions this week as well, which is the single highest inventory addition of the year so far. It almost seems as quickly as they go up they are coming back down, and that could be simplified by the sales to list ratio: For the fourth consecutive week we have seen the ratio report over 50%, so at the current rate, out of two houses that come to market, 1 sells. Pretty good environment really, especially considering that if you rewind to the years prior to 2016 you could likely count on one hand how many times it bumped over 50% all year. Sure, that may be a bit over the top, but it's nice to report on a healthy market! Values remain strong this week, and a bit of an anomaly this week; single family homes average sales (using six months) price increased again this week over 3% for the second consecutive week. Why that is weird is because of how quickly and by the amount of change that has happened in two short weeks to affect a six month average stat. Nothing is out of bounds though, and these are the growing pains we are starting to see come out if the current market environment. Stay tuned to the blog to keep up, and thanks for stopping by!
The Weekly Adogtable!
Meet Fleur! This little flower is looking for the perfect home to help her bloom! She's timid when meeting new people and requires someone experienced and patient to help her show her true colours. She would benefit from a quiet home with not many new people coming and going.
A little bit of sun every day is required. She has a lot of energy and would love to go for long walks or play with you outside. Plenty of undestructible toys are a necessity for her!
Fleur's ideal home:
- Without children
- With or without cats
- Quiet home preferred
- Registration in obedience classes is required upon adoption
This "cuddly companion" is available through the Marleys Hope, a non profit rescue organization from Halifax, Nova Scotia. More info about her 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