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 July 2nd - July 9th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 464 (341. 351, 432, 479) *544
Sold: 138 (153, 165, 169, 183) *130
Sale To Listing Ratio: 30% (45%, 47%, 39%, 38%) *26%
Price Changes: 326 (291, 349, 357, 388)
Listings that went conditional/pending: 163 (162, 178, 175, 193, 217) *154
Expired/Cancelled/Withdrawn: 126 (285, 90, 166, 128) *111
Total Active Halifax/Dartmouth Inventory: 5,800 (5,672, 5,798, 5,770, 5,691) *5,715
Active Single Family Home: 3,971 (4,165, 4,263, 3,939, 3,971) 3,900
Average Single Family Home List Price: $287,179 ($309k, $304k, $303k, $326k) $308k
Average Single Family Home Selling Price: $279,444 ($300k, 291k, $295k, $296k) $298k
Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 98%, 91%)
Median Single Family Home List Price: $269,900 ($270k, $265k, $265k, $259k)
Median Single Family Home Sold Price: $260,000 ($262k, $258k, $255k, $249k)
Average Days on Market Single Family Home: 72 (71, 107, 83, 104) *87
Active Condos: 520 (559, 577, 528, 518) *549
Average Condo Listing Price: $256,648 ($246k, $249k, $255k, $255k) *$228k
Average Condo Selling Price: $247,250 ($237k, $239k, $250k, $251k) *$222k
Condo Sale to List Ratio This Week: 96% (97%, 98%, 98%, 98%)
Median Condo List Price: $224,450 ($237k, $235k, $235k, $235k)
Median Condo Sold Price: $225,500 ($230k, $227k, $227k, $225k)
Average Days on Market Condos: 118 (68, 103, 78, 96) *89
Absorption Rate in weeks: 37 (34, 33, 35, 34)
Active Vacant Lots: 1,013 (994, 1,005, 923, 928) *912
Well that was short lived. Just two weeks of a balanced market before returning to the buyers market blues (for sellers anyways), although, I think the beginning/end of the month listing expiry/renew cycle may have skewed the numbers a bit this week. Still good activity out there, and it appears that the market is in full swing, well, more active than the rest of the year so far. Despite the "better than last year" chant that I keep hearing, unfortunately, the stats are saying quite differently. Although values may be reporting stronger than last year, key market elements like the overall sales slump and record inventory heights are a continued challenge to sellers, mostly. Still, with the right market strategy and a realistic approach, things are moving. I used to think that the three biggest words when it came to selling property was location location location, but I'm thinking it's more like price, price, price! Or surely a combination of the two. Thanks for stopping by!
THE WEEKLY ADOGTABLE
Tanner is a handsome, healthy , neutered , UTD on vaccines, energetic approx 6.5 yr old lab, amstaff mix at best guess. He is child and dog friendly. Cats are unknown but I suspect he will chase to play so no cats.Tanner is Approx 80+ pounds.He is a bit overweight so a foster or adoptive home that would be committed to him receiving the appropriate amount of quality food and daily exercise would be ideal. Tanner loves riding in a vehicle.He is a people watcher and super friendly. You can touch him anywhere and all over his body . In fact he loves being petted . He is fed quality kibble and does not have any food or toy aggression issues:) Tanner walks well on his leash and harness outside even with distractions. He does greet very excitedly unless properly introduced which we are working on , then he calms right down.
This "mighty moose" 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 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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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