The Halifax Real Estate Blog Weekly Market Rant and Statistics Update by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of May June 18th - June 25th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 351 (432, 479, 707, 606) *477
Sold: 165 (169, 183, 186, 132) *163
Sale To Listing Ratio: 47% (39%, 38%, 26%, 22%) *35%
Price Changes: 349 (357, 388)
Listings that went conditional/pending: 178 (175, 193, 217, 186, 176) *157
Expired/Cancelled/Withdrawn: 90 (166, 128, 96, 132) *81
Total Active Halifax/Dartmouth Inventory: 5,798 (5,770, 5,691, 5,650, 5,486) *5,777
Active Single Family Home: 4,263 (3,939, 3,971, 3,826, 3,718) 3,941
Average Single Family Home List Price: $304,261 ($303k, $326k, $306k, $337k) $308k
Average Single Family Home Selling Price: $291,108 ($295k, $296k, $293k, $328k) $296k
Single Family Home Sale to List Ratio This Week: 96% (98%, 91%, 96%, 98%)
Median Single Family Home List Price (YTD): $264,900 ($265k, $259k)
Median Single Family Home Sold Price (YTD): $258,000 ($255k, $249k)
Average Days on Market Single Family Home: 107 (83, 104, 115, 120) *93
Active Condos: 577 (528, 518, 565, 563) *549
Average Condo Listing Price: $248,852 ($255k, $255k, $256k, $256k) *$249k
Average Condo Selling Price: $238,780 ($250k, $251k, $249k, $248k) *$232k
Condo Sale to List Ratio This Week: 96% (98%, 98%, 98%, 97%)
Median Condo List Price: $234,900 ($235k, $235k)
Median Condo Sold Price: $227,000 ($277k, $225k)
Average Days on Market Condos: 103 (78, 96, 144, 140) *98
Absorption Rate in weeks: 33 (35, 34, 35, 46)
Active Vacant Lots: 1,005 (923, 928, 941, 888) *938
Another strong week on the market! Although sales remained average for this time of year, the lack of new listings this week caused the sales to list ratio to jump to its peak for the year so far. By looking at the listings that went conditional this week, it would appear that activity is to remain on par with the last few years. If inventory keeps up with the lower gains each week, it might give the overall picture a chance to keep up or, at least make a dent for the few weeks of activity. Values remain sturdy as we come close to finishing off the month, but I have a good feeling about how June will report compared to the abysmal May report (scroll down). Still, there is a lot of positive activity out there currently, and overall market attitude has improved, although just. Have a great week everyone, and stay tuned for more updates!
THE WEEKLY ADOGTABLE
Skittles is a sweet little retriever mix looking for her new home! She is very friendly, but when she first meets people she can get very excited and jumpy. Obedience training is mandatory upon adoption for this girl, as she needs works on her manners with people and other dogs! She met Enzo here at Homeward Bound and was very playful, but started to get a little mouthy with him. If she is going to be in a home with another dog, the other dog will need to be very patient with her. We are recommending no children under 7, due to her being jumpy, but that can be evaluated on a case by case basis.
This "lovely lady" is available through Good Bones Homeward Bound City Pound, a non profit rescue organization from Dartmouth, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.
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.
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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. 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
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