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 16th to October 23rd 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 326 (306, 418, 407, 393) *386
Sold: 108 (94, 100, 123, 133) *96
Sale To Listing Ratio: 33% (31%, 24%, 30%, 34%) *25%
Listings that went conditional/pending: 110 (99, 113, 107, 117)
Expired/Cancelled/Withdrawn: 130 (143, 132, 340, 169) *149
Total Active Halifax/Dartmouth Inventory: 5,485 (5,516, 5,564, 5,530, 5,695) *5,247
Active Single Family Home: 3,625 (3,651, 3,692, 3,684, 3.803) *3,478
Average Single Family Home List Price: $292,532 ($302, $310k, $283k, $274k) *$285k
Average Single Family Home Selling Price: $281,035 ($290k, $295k, $272k, $260k) *$275k
*Single Family Home Sale to List Ratio This Week: 96% (96%, 95%, 96%, 95%)
Average Days on Market Single Family Home: 101 (87, 104, 118, 125) *113
Active Condos: 505 (508, 511, 507, 526) *401
Average Condo Listing Price: $247,799($248k, $246K, $248k, $258k) *$242k
Average Condo Selling Price: $237,453 ($240k, $239k, $241k, $250k) *$235k
*Condo Sale to List Ratio This Week: 96% (97%, 97%, 97%, 97%)
Average Days on Market Condos: 98 (110, 117, 109, 109) *48
Absorption Rate in weeks: 52 (49, 46, 86, 48) *55
Active Vacant Lots: 1,015 (1.017, 1,017, 1,005, 1,023)
Seasonal trend has continued this week with the reduction of inventory across the board, and values taking a slight bop on the nose. Surprisingly enough, the sales to list ratio was actually up this week thanks to a decent sales appearance, and the solid count of conditional/pending sales this week, could really make for a "healthy" fall market debate. Overall market activity has declined, which is usual for this time of year, but there is still a small base of interested and savvy buyers our there looking for their purchase. It's a very relaxed mood for the current buyer, with no real sense of urgency pushing them to make the leap into property ownership. Something can be said for taking your time with such a decision. Removing the "impulse", or "heat of the moment" purchase, more and more buyers are taking the extra time to really dive into market research, and prolonged due diligence. I'm all for buyers and sellers having all the correct information at hand to make decisions, and when time is afforded to do so, all the better.
A PERSONAL NOTE
Thoughts and prayers go out to the families of recent events that have occurred in our Country over the last few days. Gone, but not forgotten.
Ariel is a 2 year old AmStaff looking for a home with a breed experienced family. She LOVES people and loves to play but she can be a bit rough with jumping and mouthing; because of this, a home with children over the age of 10 would be ideal. No cats or dogs for Ariel; she likes to be the queen of her castle! Ariel 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 Ariel 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 "delightful diva" 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah