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 July 17th - July 24th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 462 (544, 478, 477, 490) *459
Sold: 143 (161, 128, 163, 168) *164
Sale To Listing Ratio: 31% (26%, 27%, 35%, 34%) *36%
Listings that went conditional/pending: 148 (154, 147, 157, 159)
Expired/Cancelled/Withdrawn: 105 (111, 300, 81, 96) *130
Total Active Halifax/Dartmouth Inventory: 5,755 (5,715, 5,660, 5,777, 5,717) *5,648
Active Single Family Home: 3,918 (3,900, 3,856, 3,941, 3,897) *3,712
Average Single Family Home List Price: $322,905 ($307,591, $290,741, $307,957, $303,555) *305k
Average Single Family Home Selling Price: $309,886 ($297,796, $282,092, $296,001, $293,003) *296k
*Single Family Home Sale to List Ratio This Week: 95%
Average Days on Market Single Family Home: 97 (87, 86, 93, 84) *99
Active Condos: 549 (549, 555, 549, 545) *445
Average Condo Listing Price: $243,014 ($228,121, $255,377, $249,333, $250,893) *333k
Average Condo Selling Price: $237,135 ($221,774, $248,588, $232,150, $241,033) *320k
*Condo Sale to List Ratio This Week: 98%
Average Days on Market Condos: 67 (89, 80, 98, 77) *70
Absorption Rate in weeks: 39 *43
Active Vacant Lots: 923 (912, 903, 938, 934)
And we're back! Couple new additions to the blog, a new blog record, and we celebrate an anniversary this week. To the rant! Looks like things are still steady in the main areas and no "uptick" in the market occurred in the last couple of weeks. The only things that are on the up is inventory (as per usual) and the average sale prices. Both Condo and Single Family Homes posted solid prices this week, with SFH's breaking a all time value high this week on the blog coming in at $309,886. So our odd trend of increasing prices, every growing inventory and lack of buyers continues as the summer market carries on. Couple of new stat additions this week, and the return of an old one. Decided to post the sale to list ratio for both single family homes and condo's. As you can see, SFH's averaged a 5% price reduction from where it was listed, and condo's negotiated a mere 2%. These numbers only reflect the last list price to the sale, and does not take into account however many price reductions took place before that. I would imagine the point gap would be much larger if that was that case.
Last but not least, we celebrate the one year anniversary of the "Weekly Adogtable" feature on the blog. Working hand in hand with many of the great people and associations that take care of these rescued animals has been an absolute pleasure. The exposure that these guys get here has been noticed by many people, and referenced back to on adoption day, which makes me extremely happy. I donate what time I have, and funding to these amazing people and places in hopes that these guys get a second chance at a home, and don't get lost along the way. Thank you for the support, and please, share when you can. The more exposure they get, the better chance they will be noticed, and ultimately, adopted.
Bronx is a beautiful pit bull terrier that is as cuddly as can be and will curl up with you for hours as soon as you sit down. She is around 3 years old, 65lbs, spayed and vaccinated. Bronx is fully house trained and hasn't touched any of her foster mama’s things. She loves to play with tugging on her rope and is lower energy with sleeping most of the day. Bronx will bark when someone comes to the door but she warms up quickly and is full of kisses for new people once she meets them. She is learning quickly not to pull on walks but will need someone with patients who will continue to work with her. Bronx meets big dogs when off-leash, but will need a home free from small dogs and would do best in a pet free home. She lived with 3 children in her past and loves to snuggle right in with them. Bronx is a very loving girl who is looking for someone to curl up with and who will love her back. To adopt Bronx, fill out an Adoption Application!
This "Lovely Lady" is available through Buddies Bully Rescue, 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 real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. 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