|
Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 220 (200, 264, 258, 261) *199 Sold: 123 (138, 139, 135, 159) *127 Sale To Listing Ratio: 56% (69%, 61%, 61%, 54%) *64% Price Changes: 110 (115, 112, 112, 135) *87 Conditional Sale: 137 (169, 188, 189, 190) *132 Expired/Cancelled/Withdrawn: 83 (70, 40, 41, 55) *38 Total Active Halifax/Dartmouth Inventory: 1,758 (1,747, 1,751, 1,738, 1,729) *1,383 Absorption Rate: 13 (12, 12, 12, 11) *10 Single Family Home Stats Active Single Family Home: 885 (875, 881, 870, 865) *678 Average Single Family Home List Price: $622,994 ($630k, $592k, $602k, $581k) *$624k Average Single Family Home Selling Price: $625,653 ($627k, $590k, $603k, $579k) *$614k Single Family Home Sale to List Ratio This Week: 101% (99%, 99%, 101%, 102%) *98% Median Single Family Home List Price (6 mo): $569,000 ($569k,$576k,$565k,$565k) *$530k Median Single Family Home Sold Price(6 mo):$570,000 ($570k,$568k,$568k,$568k)*$543k Average Days on Market Single Family Home: 26 (32, 30, 31, 36) *34 Condo Stats Active Condos: 126 (124, 133, 130, 127) *106 Average Condo Listing Price: $399,476 ($451k, $497k, $537k, $486k) *$438k Average Condo Selling Price: $403,491 ($456k, $492k, 531k, $479k) *$447k Condo Sale to List Ratio This Week: 101% (101%, 99%, 98%, 101%) *102% Median Condo List Price (6 mo): $439,900 ($440k, $440k, $440k, $440k) *$425k Median Condo Sold Price (6 mo): $440,000 ($440k, $440k, $440k, $440k) *$425k Average Days on Market Condos: 27 (25, 45, 40, 27) *11 Active Vacant Lots: 510 (521, 515, 512, 511) *423 Market Rant The real estate market is navigating a period of adjustment, characterized by a notable softening in sales activity and a drop in the sale-to-listing ratio to 56%. Despite these headwinds, single-family homes continue to demonstrate resilience, with stable prices and a quicker turnover, reflected in a reduced average of just 26 days on the market. This suggests that while the broader market may be cooling, demand for single-family homes remains robust. Conversely, the condo market is experiencing a more pronounced shift, with a sharp decline in average prices. Despite this price correction, condos are still commanding near their list prices, maintaining a solid sale-to-list ratio of 101%, which speaks to ongoing buyer interest even in a cooling market. The reduction in active vacant lot listings to 510 further indicates a tightening in the supply of development land, which could influence future market dynamics. Overall, the market is stabilizing but with clear signs of cooling, particularly in the condo sector, as buyers and sellers adjust to shifting conditions. This nuanced landscape offers both challenges and opportunities, with single-family homes standing out as a bright spot amid the broader market recalibration. Thanks for stopping by! The Weekly "Adogtable" This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Nova Scotia. More info about him and other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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. Don't forget to bookmark my page, and visit often!  VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process. Newest Blog post HERE Comments are closed.
|
Jeremiah Wallace, CDJeremiah 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.. 
ListingsPhoto's by Jeremiah
Archives
August 2024
Categories
All
|
RSS Feed