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 25th - July 2nd 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 341 (351, 432, 479, 707) *478
Sold: 153 (165, 169, 183, 186) *128
Sale To Listing Ratio: 45% (47%, 39%, 38%, 26%) *27%
Price Changes: 291 (349, 357, 388)
Listings that went conditional/pending: 162 (178, 175, 193, 217, 186) *147
Expired/Cancelled/Withdrawn: 285 (90, 166, 128, 96) *300
Total Active Halifax/Dartmouth Inventory: 5,672 (5,798, 5,770, 5,691, 5,650) *5,660
Active Single Family Home: 4,165 (4,263, 3,939, 3,971, 3,826) 3,856
Average Single Family Home List Price: $309,130 ($304k, $303k, $326k, $306k) $291k
Average Single Family Home Selling Price: $299,625 ($291k, $295k, $296k, $293k) $282k
Single Family Home Sale to List Ratio This Week: 97% (96%, 98%, 91%, 96%)
Median Single Family Home List Price (YTD): $269,900 ($265k, $265k, $259k)
Median Single Family Home Sold Price (YTD): $261,500 ($258k, $255k, $249k)
Average Days on Market Single Family Home: 71 (107, 83, 104, 115) *86
Active Condos: 559 (577, 528, 518, 565) *555
Average Condo Listing Price: $245,763 ($249k, $255k, $255k, $256k) *$255k
Average Condo Selling Price: $237,232 ($239k, $250k, $251k, $249k) *$249k
Condo Sale to List Ratio This Week: 97% (98%, 98%, 98%, 98%)
Median Condo List Price: $237,400 ($235k, $235k, $235k)
Median Condo Sold Price: $230,000 ($227k, $227k, $225k)
Average Days on Market Condos: 68 (103, 78, 96, 144) *80
Absorption Rate in weeks: 34 (33, 35, 34, 35)
Active Vacant Lots: 994 (1,005, 923, 928, 941) *903
I hope everyone had a great Canada Day! For the second week in a row, Halifax is not only enjoying the improved weather, but the return of a balanced market after almost 4 years! Not since the Irving ship building contract have we seen such a high sales to list ratio, that being said, there is a perfect storm of factors that have contributed to the healthy report. Sales have reported above average for the time of year, and new listings have not only slowed, they've actually reduced. Coupled with the late start to the season, relocations, and the initial hiring blitz done by Irving Shipbuilding, and you get the results of what sellers have been hoping for...more activity! As predicted, it may be a late start to the season, but things are definitely shaping up in the market place and one can only hope that this is the preview of greater things to come. Thanks for stopping by!
THE WEEKLY ADOGTABLE
This adorable adoptable didn't even get a write up to help her chances with being adopted, but I'm sure if you where to visit her and spend some time, that you would fall in love with this loving girl. Everyone deserves a second chance in life, and having an adoptable around is second to none. If you are thinking that it's time to get a dog, please consider visiting one of the many rescues to save these amazing animals. Roxy is a boxer mix, and would be looking for an active life, with lots of care and snuggles.
This "lovely lady" is available through the Nova Scotia SPCA, 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.
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. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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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