The Halifax Real Estate Blog Weekly Market Rant and Statistics Update by Jeremiah of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of September 24th - October 1st 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 553 (326, 305, 302, 279) *407
Sold: 129 (128, 130, 109, 125) *123
Sale To Listing Ratio: 23% (39%, 43%, 36%, 45%) *30%
Price Changes: 295 (289, 337, 268, 266)
Listings that went conditional/pending: 145 (140, 141, 128, 141) *107
Expired/Cancelled/Withdrawn: 321 (172, 179, 137, 293) *340
Total Active Halifax/Dartmouth Inventory: 5,729 (5,841, 5,835, 5,857, 5,830) *5,530
Absorption Rate in weeks: 46 (48, 46, 45, 44)
Single Family Home Stats
Active Single Family Home: 3,869 (3,935, 3,933, 3,958, 3,938) *3,684
Average Single Family Home List Price: $289,846 ($267k, $301k, $297k, $293k) *$284k
Average Single Family Home Selling Price: $279,564 ($256k, $290k, $285k, $278k) *$272k
Single Family Home Sale to List Ratio This Week: 96% (96%, 96%, 96%, 95%) *96%
Median Single Family Home List Price: $282.400 ($259k, $262k, $260k, $260k)
Median Single Family Home Sold Price: $256,500 ($252k, $250k, $250k, $248k)
Average Days on Market Single Family Home: 157 (82, 118, 101, 104) *118
Active Condos: 474 (497, 494, 501, 484) *507
Average Condo Listing Price: $290,709 ($360k, $244k, $241k, $246k) *$248k
Average Condo Selling Price: $279,595 ($349k, $238k, $233k, $238k) *$241k
Condo Sale to List Ratio This Week: 96% (97%, 97%, 97%, 96%) *97%
Median Condo List Price: $233,000($236k, $234k, $225k, $230k)
Median Condo Sold Price: $224,500 ($226k, $225k, $215k, $223k)
Average Days on Market Condos: 150 (145, 144, 97, 97) *109
Active Vacant Lots: 1,083 (1,097, 1,093, 1,086, 1,097) *1,005
Hope everyone has remembered to bookmark halifaxrealestateblog.ca! Looks like the final blows have been dealt, and the market is ready to follow annual trend to the mat. All areas have reduced this week, significantly, signalling the slow decline into the fall/winter market. Activity overall has declined (exception being new additions, which is abnormally high this week), but even with amount of new additions this week, inventory is still on the downward trend. Values remain strong this week, but well below that of the spring and summer market, and seem to remain on the market longer than average. I would say that's because the listings currently active have waited out the spring/summer market, and where some choose to pull form the competition, some decide to stick around. The ones that do decide to keep the selling fire lit may find themselves in a position that they had hoped for, or at the least, a renewed hope of activity. Thanks for stopping by!
THE WEEKLY ADOGTABLE
Blue is a young, active dog searching for a home to call his own. He would LOVE a family that can take him on lots of adventures, as he loves the outdoors. Blue's new family will need to enrol him in obedience classes upon adoption. This will ensure that he learns proper manners, and that his new family can handle anything that comes their way! Blue has yet to be tested with dogs, but if you have a current dog feel free to arrange a meeting with us! He can be quite jumpy and mouthy, so we ask that he be homed with children over the age of 12. This big boy has lots of love to give, and can't wait to share it with you!.
This "cuddly companion" is available through Homeward Bound City Pound, 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 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.
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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