The Halifax Real Estate Blog Weekly Market Rant and Statistics Update by Jeremiah Wallace of ViewPoint Realty
Halifax (HRM) Residential Market Statistic Update For Week of March 19th - March 26th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 326 (344, 425, 384, 295) *387
Sold: 100 (97, 91, 92, 99) *97
Sale To Listing Ratio: 31% (29%, 21%, 24%, 34%) *25%
Listings that went conditional/pending: 109 (108, 107, 117, 88) *110
Expired/Cancelled/Withdrawn: 61 (64, 112, 134, 52) *75
Total Active Halifax/Dartmouth Inventory: 4,554 (4,493, 4,472, 4,373, 4,369) *4,611
Active Single Family Home: 2,944 (2,885, 2,896, 2,853, 2,857) 3,037
Average Single Family Home List Price: $302,297 ($298k, $299k, $299k, $397k) $288k
Average Single Family Home Selling Price: $293,312 ($,288k, $286k, $291k, $287k) $277k
*Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 97%, 97%)
Average Days on Market Single Family Home: 99 (115, 128, 122, 134) *89
Active Condos: 484 (488, 478, 446, 432) *475
Average Condo Listing Price: $267,008 ($256k, $257k, $256k, $267k) *$236k
Average Condo Selling Price: $251,250 ($$245k, 248k, $248k, $256k) *$231k
*Condo Sale to List Ratio This Week: 94% (97%, 97%, 97%, 96%)
Average Days on Market Condos: 105 (75, 71, 62, 110) *112
Absorption Rate in weeks: 48 (48, 49, 47, 46)
Active Vacant Lots: 862 (860, 838, 821, 830)
Little bit of a sleeper week, as we finally start to thaw from the grip of winter. Looks like we have dipped below the inventory levels of last year, and activity in general is much less as well....except for sales. Despite the frigid temps and slushy roads, buyers are still venturing out to look at those homes in desperate need of shovelling. Conditional/pendings are still solid at 109, and despite the lack of new inventory, sales are still performing quite strong. I imagine there is a "listing dam", if you want to call it that, held up by ice. Once that ice melts, we are more than likely to see a surge of new listings flood onto the market, and bring those numbers back in line. For now, the majority of market participants are still emerging from their respective hideaways, rubbing their eyes and questioning; "what is that big bright round orb in the sky?". Bring on the Spring!!
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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.
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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