The Halifax Real Estate Blog Weekly Market Rant And Statistics Update by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of August 28th To September 4th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 439 (447, 411, 474, 497) *410
Sold: 110 (135, 134, 108, 106) *105
Sale To Listing Ratio: 25% (30%, 33%, 23%, 21%) *26%
Listings that went conditional/pending: 126 (128, 132, 143, 124)
Expired/Cancelled/Withdrawn: 311 (136, 28, 131, 233) *227
Total Active Halifax/Dartmouth Inventory: 5,667 (5,813, 5,783, 5,811, 5,763) *5,335
Active Single Family Home: 3,780 (3,879, 3,900, 3,927, 3,892) *3,499
Average Single Family Home List Price: $299,750 ($323,502, $296,581, $285,178, $315,732) *$313k
Average Single Family Home Selling Price: $286,711 ($310,691, $286,384, $272,197, $304,200) *$302k
*Single Family Home Sale to List Ratio This Week: 96% (96%, 97%, 95%, 96%)
Average Days on Market Single Family Home: 113 (117, 114, 94, 93) *108
Active Condos: 516 (549, 545, 548, 543) *399
Average Condo Listing Price: $245,811 ($242,855, $255,770, $243,709, $247,339) *$264k
Average Condo Selling Price: $237,305 ($233,122, $248,052, $236,790, $241,005) *$250k
*Condo Sale to List Ratio This Week: 97% (96%, 97%, 97%, 97%)
Average Days on Market Condos: 103 (86, 137, 114, 71) *67
Absorption Rate in weeks: 47 (48, 46, 46, 41)*45
Active Vacant Lots: 1022 (1021, 968, 962, 962)
As predicted, all areas of the inventory have declined, well, except for vacant lots. Massive reduction this week, with the majority being expired listings. Call it "back to school market blues" this week, as mentioned last week that a good percentage of folks would be concentrating on things other than real estate. Not too much of a change from last year, other than the additional inventory and longer days on market. Looks like these market blues might be around for the long haul, but I'm crossing my fingers that somethings gives. Stay tuned for the monthly wrap up, should be interesting.
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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. Thanks for stopping by!
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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