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 January 15th - January 22nd 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 325 (363, 364, 208, 232) *345
Sold: 67 (60, 38, 70, 81) *55
Sale To Listing Ratio: 21% (17%, 10%, 34%, 35%) *16%
Listings that went conditional/pending: 87 (64, 64, 67, 85)
Expired/Cancelled/Withdrawn: 83 (92, 101, 210, 150) *89
Total Active Halifax/Dartmouth Inventory: 4,284 (4,212, 4,117, 4,573, 4,749) *4,411
Active Single Family Home: 2,785 (2,737, 2,679, 2,928, 3,037) $2,828
Average Single Family Home List Price: $281,410 ($318k, $299k, $300k, $283k) $262k
Average Single Family Home Selling Price: $272,239 ($305k, $286, $292, $270k) $246k
*Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 97%, 96%)
Average Days on Market Single Family Home: 125 (144, 115, 122, 162) *125
Active Condos: 393 (384, 377, 421, 442) *436
Average Condo Listing Price: $227,236 ($241k, $239, $240k, $247k) *$267k
Average Condo Selling Price: $216,481 ($232k, $230k, $232k, $235k) *$262k
*Condo Sale to List Ratio This Week: 95% (96%, 96%, 96%, 95%)
Average Days on Market Condos: 112 (145, 122, 134, 153) *126
Absorption Rate in weeks: 73 (68, 70, 52, 51)
Active Vacant Lots: 844 (835, 809, 941, 973)
Positive market momentum carries on this week, as news heats up regarding the Irving Ship contracts. Although the two are not directly linked, one can only think that the agreement (finally) will have a positive impact on our market here in Halifax. The further news that Irving will not only build the ships, but also serve as the prime contractor, will surely have some investor tongues wagging. So, the shipyard will start with the first six vessels, projected to start in the fall, and will employ approximately 2,400 workers at the peak of construction. With that kind of worker demand, it will no doubt impact all products of the real estate market as the company reaches out to fill the numerous positions. Until then, we can keep an eye on our apparently improving market, and hope that the trend sticks around for the long haul!
Luna is a 3 year old fun-loving, friendly, compact 66lb, wiggly butt 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 10 would be ideal. No dogs for Luna! Luna has anxiety around other dogs so she needs a strong leader willing to work with her and show her dogs are nothing to be afraid of. 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 "lovely lady" 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 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. 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