The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
butHalifax (HRM) Residential Statistic Update for the Week of August 9th - 16th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 255 (241, 309, 341, 359) *284
Sold: 146 (167, 176, 163, 182) *154
Sale To Listing Ratio: 57% (69%, 57%, 48%, 51%) *54%
Price Changes: 153 (165, 198, 201, 249) *229
Listings that went conditional/pending: 158 (130, 219, 199, 207) *184
Expired/Cancelled/Withdrawn: 113 (68, 183, 90, 112) *131
Total Active Halifax/Dartmouth Inventory: 4,200 (4,213, 4,195, 4,273, 4,233) +4,778
Absorption Rate in weeks: 26 (25, 24, 23, 22) *32
Single Family Home Stats
Active Single Family Home: 2,410 (2,420, 2,409, 2,452, 2,446) *2,956
Average Single Family Home List Price: $314,070 ($301k,$315k,$325k,$332k) *$292k
Average Single Family Home Selling Price: $302,760 ($292k,$305k,$316k,$323k) *$278k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 97%, 97%) *95%
Median Single Family Home List Price (6 mo): $289,000 ($287k,$289k,$289k,$289k)*$280k
Median Single Family Home Sold Price (6 mo):$280,700 ($280k,$281k,$280k,$280k)*$271k
Average Days on Market Single Family Home: 71 (66, 88, 61, 55) *82
Active Condos: 379 (377, 381, 384, 392) *423
Average Condo Listing Price: $276,446 ($247k, $211k, $227k, $236k) *$266k
Average Condo Selling Price: $268,940 ($243k, $208k, $220k, $226k) *$258k
Condo Sale to List Ratio This Week: 97% (98%, 98%, 97%, 96%) 97%
Median Condo List Price (6 mo): $229,900 ($230k, $230k, $230k, $235k) *$242k
Median Condo Sold Price (6 mo): $221,000 ($223k, $223k, $221k, $225k) *$230k
Average Days on Market Condos: 132 (56, 100, 81, 117) *82
Active Vacant Lots: 1,060 (1,071, 1,055, 1,068, 1,018) *1,173
In an strange plot twist, sales actually reported lower this week compared to last year. Not a huge impact however, as listings reported lower this week, so they somewhat balanced themselves out. This year has been trucking along, smashing last years stats to pieces for the most part, but the second half of the year so far has somewhat limped along. Still early in the second half however, so I wouldn't count the remaining market year out quite yet. It wasn't just sales that hit a wall this week either, as buyer activity across the board is down for the second week in a row. Inventory reduced this week however, but the large gap between the 2017 and 2018 market year remains steady, hovering just under the 600 product mark. That number has fluctuated throughout the year, and at this time, we are slightly edging out the beginning of the year, which was reporting over a 600 product difference. The big edge the 2018 market year holds is the absorption rate, reporting 6 weeks better than last year. Although, if you take the sales pace of this year compared to last years inventory there is only a 3 week gap. Interesting times indeed! Is the 2017 market year due for a comeback? You'll have to stay tuned to find out! Thanks for stopping by, and don't forget to hit the like button at the bottom of this weeks post!
The Weekly Adogtable
Dodger is a active pup who is ready to take on the world and the hiking trails! He would love nothing better than to set the pace, so he would thrive best with an active family who can keep up with him. Dodger is eager to learn and aims to please. While he is typically polite when greeting new doggy friends, he also tends to get excitable and a bit pushy, so he could benefit from learning some social cues with other pets who are willing to put up with him!
Dodger would do best in a home environment:
-With or without other pets
-With children over the age of 7 years
Dodger's adoption is by appointment only. To schedule an appointment, send us an email at email@example.com
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about him and 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