Halifax (HRM) Residential Market Statistic Update for the Week of September 29th - October 6th, 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New Listings: 321 (278, 378, 273, 252) *328 Sold: 139 (141, 135, 132, 85) *117 Sale To Listing Ratio: 43% (51%, 36%, 48%, 34%) *36% Price Changes: 226 (229, 215, 250, 167) *243 Listings that went conditional/pending: 139 (144, 158, 117, 124) *144 Expired/Cancelled/Withdrawn: 420 (130, 133, 286, 286) *344 Total Active Halifax/Dartmouth Inventory: 5,161 (5,368, 5,378, 5,296, 5,233) *5,720 Absorption Rate in weeks: 37 (44, 45, 42, 41) *45 Single Family Home Stats Active Single Family Home: 3,267 (3,433, 3,449, 3,430, 3,388) *3,860 Average Single Family Home List Price: $335,480 ($344k, $297k, $306k, $332k) *$250k Average Single Family Home Selling Price: $322,968 ($323k, $285k, $296k) *$242k Single Family Home Sale to List Ratio This Week: 96% (94%, 96%, 97%, 96%) *97% Median Single Family Home List Price: $286,900 ($282k, $266k, $279k, $290k) *$250k Median Single Family Home Sold Price: $270,000 ($267k, $255k, $270k, $283k) *$248k Average Days on Market Single Family Home: 87 (96, 103, 98, 97) *71 Condo Stats Active Condos: 471 (477, 476, 478, 477) *461 Average Condo Listing Price: $308,262 ($315k, $274k, $309k, $217k) *$262k Average Condo Selling Price: $299,340 ($311k, $263k, $299k, $211k) *$251k Condo Sale to List Ratio This Week: 97% (98%, 97%, 97%, 97%) *96% Median Condo List Price: $319,900 ($305k, $222k, $312k, $200k) *240k Median Condo Sold Price: $307,500 ($303k, $215k, $310k, $180k) *229k Average Days on Market Condos: 177 (81, 121, 66, 116) *92 Active Vacant Lots: 1,145 (1,167, 1,168, 1,112, 1,098) *1,102 Market Rant As with the season, the inventory and activity seem to "Fall" around this time of year (har har). Bad, I know. Activity has definitely slowed, and it wasn't just a slow taper, more like a sudden halt. Of course with the holiday approaching, Turkey may be the primary focus for some folks, and in general, activity has an annual trend of decline around this time as well. Activity and reports are still casting a more positive light than that of last year, with new listing additions down, sales up, and the sales to list ratio well below the former report. Average sale prices remain steady, and the big thing to take away is the continued reduction of inventory that maintains its lower report week over week from the past year. This is an important factor to focus on, as continuing the previous 4 year trend could have lead us down a path of disaster. In any case, that hasn't happened yet, and if the activity reported progressively maintains and improves, the market is sure to turn around sooner than later. Stay tuned to keep an eye on the action! WEEKLY ADOPTABLE Peggy will be on her ride to freedom tomorrow. Meet another Montreal dog needing out! Peggy is a friendly , tail wagging attention seeker. She is approx 3 yrs old, spay, vaccinated , dewormed. She was found abandoned , alone and likely had multiple pregnancies. She is crate trained , quiet and calm but will whine for attention and bark if dogs bark at her in the shelter. She reacts to large dogs so obviously not a good environment for her and she needs training and safe socialization opportunities. She loves to eat . When excited she tends to jump on. She nibbles a little bit otherwise she just wants to be loved badly. This "cuddly companion" is available through the Good Bones Dog Rescue, 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 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. 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.
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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
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