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 22nd - January 29th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 447 (325, 363, 364, 208) *341
Sold: 67 (67, 60, 38, 70) *76
Sale To Listing Ratio: 15% (21%, 17%, 10%, 34%) *22%
Listings that went conditional/pending: 105 (87, 64, 64, 67) *88
Expired/Cancelled/Withdrawn: 216 (83, 92, 101, 210) *90
Total Active Halifax/Dartmouth Inventory: 4,349 (4,284, 4,212, 4,117, 4,573) *4,499
Active Single Family Home: 2,830 (2,785, 2,737, 2,679, 2,928) $2,869
Average Single Family Home List Price: $280,953 ($281k, $318k, $299k, $300k) $305k
Average Single Family Home Selling Price: $270,148 ($272k, $305k, $286, $292) $287k
*Single Family Home Sale to List Ratio This Week: 96% (97%, 96%, 96%, 97%)
Average Days on Market Single Family Home: 109 (125, 144, 115, 122) *106
Active Condos: 410 (393, 384, 377, 421) *438
Average Condo Listing Price: $230,449 ($227k, $241k, $239, $240k) *$243k
Average Condo Selling Price: $220,850 ($216k, $232k, $230k, $232k) *$230k
*Condo Sale to List Ratio This Week: 96% (95%, 96%, 96%, 96%)
Average Days on Market Condos: 134 (112, 145, 122, 134) *104
Absorption Rate in weeks: 75 (73, 68, 70, 52) *52
Active Vacant Lots: 848 (844, 835, 809, 941)
Well that didn't take too long! Not far behind the recent Irving shipbuilding news is apparent spike in activity this week. Whether they are directly connected may just be a coincidence...or is it? It would appear that we may have had the end/beginning of month inventory flip over sooner than usual, that, or a plethora of winter contracts had expired (see the unusually high expired pile) this week. Either way you slice it, the inventory took a steep climb this week to close the gap from last year's reports. If it keeps up like this in for just a couple more weeks, we may be back to square one and well on our way back to the basement. One positive note is the number of listings that reported conditional this week. If 85-90% of those actually firm up, we will have a strong enough showing to keep the listings flooding onto the market at bay. There may a few antsy sellers looking to sprint to the market for their chance at a quick sale, but those who walk back may find better results. For now, though, we can at least say that January should report better than last year, and you will have to tune in next week to the blog for the January wrap up to find out just how much!
Dean is a 3 year old AmStaff looking for an adult-only home. This compact rednose LOVES attention and absolutely loves hugs! He knows some basic commands when motivated with treats, but would not make a good off-leash dog. Dean loves to play fetch, he thinks chasing toys is super fun! He is even starting to learn to drop the toy on demand. He doesn't tend to bark, is not a chewer, and is very calm and relaxed in the home. Dean will need an experienced owner as he does not know how to act like a gentleman around other dogs; he can be reactive from afar, and even though he can do well face-to-face, he was dominant and pushy with our little beagle test dog. We say no children as Dean can be very mouthy when over-stimulated. He does well with calm children, but should not be around children who are running around and acting excited unless properly supervised by an adult. No cats for this boy please! Dean is here, anxiously waiting for his new family to take him home. Stop by and meet this handsome man today!
This "dashing duke" 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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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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah