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 October 9th to October 16th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 306 (418, 407, 393, 423) *330
Sold: 94 (100, 123, 133, 123) *97
Sale To Listing Ratio: 31% (24%, 30%, 34%, 30%) *29%
Listings that went conditional/pending: 99 (113, 107, 117, 116)
Expired/Cancelled/Withdrawn: 143 (132, 340, 169, 146) *148
Total Active Halifax/Dartmouth Inventory: 5,516 (5,564, 5,530, 5,695, 5,730) *5,246
Active Single Family Home: 3,651 (3,692, 3,684, 3.803, 3,830) *3,519
Average Single Family Home List Price: $301,565 ($310k, $283k, $274k, $303k) *$264k
Average Single Family Home Selling Price: $290,370 ($295k, $272k, $260k, $292K) *$256k
*Single Family Home Sale to List Ratio This Week: 96% (95%, 96%, 95%, 96%)
Average Days on Market Single Family Home: 87 (104, 118, 125, 105) *101
Active Condos: 508 (511, 507, 526, 524) *399
Average Condo Listing Price: $247,833 ($246K, $248k, $258k, $253k) *$269k
Average Condo Selling Price: $239,725 ($239k, $241k, $250k, $244k) *$262k
*Condo Sale to List Ratio This Week: 97% (97%, 97%, 97%, 96%)
Average Days on Market Condos: 110 (117, 109, 109, 100) *73
Absorption Rate in weeks: 49 (46, 86, 48, 48) *52
Active Vacant Lots: 1,017 (1,017, 1,005, 1,023, 1,029)
Looks like last week may prove to be the "false crest" of the season, as this weeks numbers start to settle down and return to normal. By normal, I mean reduction. All areas of the market are down this week, as far as inventory is concerned, will sales still performing better than average (for the past few years). Not a whole lot of new inventory gains this week, but I would imagine turkey dinner had a bit to do with the lack of activity. Sales value in both areas remain strong, with sales to list ratio averaging four and three and five percent respectively. Value is not the only thing that remains higher from last year, as you can see, inventory remains well above years prior, and holds the record for "most inflated". To get a graphical look at how the previous years match up on a month to month basis, please scroll down to see the September monthly wrap up. Lots of good bits of info, and I'm sure there will be some surprises in there too. Thanks for stopping by!
Luna is a 3 year old fun-loving, friendly, compact 66lb, wiggly but AmStaff looking for a home with a breed experienced family. She LOVES people and loves to play, but can play a bit rough with her toys, as well as with jumping and mouthing; because of this, a home with children over the age of 7 would be ideal. Luna tested well with the cats at the pound, but a dog-experienced cat would likely be a good idea due to her playful nature. No dogs for Luna; she likes to be the queen of her castle! Although Luna does well in her run and tested well in the crate; she is fairly quiet, calming down quickly, and she appears to be house trained too! Daily exercise will be essential for Luna to be a happy girl; whoever is interested in taking this beauty home will have to enrol her in obedience classes, so stop by and meet her today!
This "loving lass" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.
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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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah