The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Statistic Update for the Week of June 1st - June 8th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 449 (387, 416, 400, 420) *397
Sold: 197 (180, 178, 213, 203) *171
Sale To Listing Ratio: 44% (47%, 43%, 53%, 48%) *43%
Price Changes: 251 (248, 191, 209, 236) *329
Listings that went conditional/pending: 227 (248, 213, 203, 241) *203
Expired/Cancelled/Withdrawn: 194 (218, 64, 99, 93) *148
Total Active Halifax/Dartmouth Inventory: 4,944 (4,862, 4,947, 4,860, 4,776) *5,377
Absorption Rate in weeks: 26 (25, 26, 26, 28) *33
Single Family Home Stats
Active Single Family Home: 3,047 (2,987, 3,026, 2,971, 2,918) *3,605
Average Single Family Home List Price: $297,747 ($326k, $324k, $339k, $330k) *$307k
Average Single Family Home Selling Price: $283,462 ($317k, $315k, $329k, $321k) *$299k
Single Family Home Sale to List Ratio This Week: 95% (97%, 97%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $279,000 ($279k,$279k,$275k,$280k)*$285k
Median Single Family Home Sold Price (6 mo): $270,000 ($270k,$270k,$269k,$273k)*$277k
Average Days on Market Single Family Home: 80 (60, 70, 65, 68) *80
Active Condos: 487 (481, 505, 504, 496) *486
Average Condo Listing Price: $251,366 ($280k, $261k, $252k, $206k) *$232k
Average Condo Selling Price: $244,323 ($281k, $249k, $243k, $196k) *$224k
Condo Sale to List Ratio This Week: 97% (97%, 96%, 96%, 96%) 96%
Median Condo List Price (6 mo): $229,450 ($230k, $230k, $228k, $225k) *$232k
Median Condo Sold Price (6 mo): $217,900 ($220k, $220k, $216k, $215k) *$220k
Average Days on Market Condos: 95 (150, 151, 98, 52, 70) *75
Active Vacant Lots: 1,160 (1,145, 1,158, 1,128, 1,104) *1,030
Another solid week of activity as we head towards the final innings of the Spring Market. How did this Spring compare to other years? We certainly carried forward the buyer momentum that started late last year, and ended up with somewhat of a buildup, or market pressure, due to sellers coming late to market or not coming to market at all. The overall inventory is still way down from last year at this time, although we are starting to see new additions increase, but the buyer buildup is still in play...for now. Still lots of buyers out there making offers though, as reflected by the listings that changed status to conditional/pending, so there is a hope that the momentum carries through to the Summer months. Historically, Summer sees the slow taper of the inventory and overall activity as both buyer and seller look to take in the sunny days and warm weather, with a good amount of people wanting to be settled before the beginning of the school year. Still, there is many that do not have that consideration, and it doesn't appear that things will be slowing down anytime soon. Stay tuned to stay up to date with all that's happening here in the Halifax real estate market.
Sylus is the one for you!
Meet the latest Good Bones addition, SYLUS. He is a Boxer/am staff mix. He likes: cats, kids , adults and other dogs. He is vaccinated but needs a neuter.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, 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 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!
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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