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 16th - July 23rd 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 360 (374, 464, 341. 351) *462
Sold: 165 (120, 138, 153, 165) *143
Sale To Listing Ratio: 46% (32%, 30%, 45%, 47%) *31%
Price Changes: 310 (281, 326, 291, 349)
Listings that went conditional/pending: 164 (139, 163, 162, 178, 175) *148
Expired/Cancelled/Withdrawn: 137 (111, 126, 285, 90) *105
Total Active Halifax/Dartmouth Inventory: 5,962 (5,893, 5,800, 5,672, 5,798) *5,755
Absorption Rate in weeks: 41 (41, 37, 34, 33) *39
Single Family Home Stats
Active Single Family Home: 4,097 (4,026, 3,971, 4,165, 4,263,) *3,918
Average Single Family Home List Price: $288,576 ($284k, $287k, $309k, $304k) *$321k
Average Single Family Home Selling Price: $277,267 ($275k, $279k, $300k, 291k) *$310k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 97%, 96%) *95%
Median Single Family Home List Price: $270,900 ($272k, $270k, $270k, $265k)
Median Single Family Home Sold Price: $262,000 ($262k, $270k, $262k, $258k)
Average Days on Market Single Family Home: 76 (68, 72, 71, 107) *97
Active Condos: 522 (526, 520, 559, 577) *549
Average Condo Listing Price: $241,525 ($258k, $257k, $246k, $249k,) *$243k
Average Condo Selling Price: $237,354 ($250k, $247k, $237k, $239k) *$237k
Condo Sale to List Ratio This Week: 98% (97%, 96%, 97%, 98%) *98%
Median Condo List Price: $225,900 ($230k, $225k, $237k, $235k)
Median Condo Sold Price: $220,000 ($224k, $226k, $230k, $227k)
Average Days on Market Condos: 79 (96, 118, 68, 103) *67
Active Vacant Lots: 1,040 (1,035, 1,013, 994, 1,005) *923
And we're back! A couple weeks on the ropes, but the market has come back swinging! Lots of positive points to pass along this week with the return to a stellar sales to list ratio, new and back to market listings are down, sales are up, and there's a good amount of potential sales in the breach according to the conditional /pending pile. Values remain steady across the board, and something I noticed this year in particular, the spread of list to sale selling percentages has increased. Where last year, the average listing to sale price floated around the 95% mark, and this year has been a solid 96% for the majority of the year thus far. Might indicate that sellers have a "stick to your guns" approach when it comes to listing, or that the listings that are selling are priced competitively enough that there is not a whole lot of negotiation that needs to take place. Now we're only talking averages here, and of course, every property and sale are different. There are so many factors that go into the psychology of selling property, from market to seller, each transaction is unique as the buyer and seller involved. Thanks for stopping by!
THE WEEKLY ADOGTABLE
"What we know about Gauge is he is a young boxer/am staff mix approx 13.5 months old . He loves kids and they have even taken toys from his mouth, good with cats and is well socialized with other dogs. He has even been good with Guinea pigs(loll). Gauge loves his toys especially popular are his Kong ones, tug rope and ball. He loves fetch and he is crate trained.
He is not fearful of anything such as strangers, thunder ect; He does not have food allergies. He rings a back door bell when he needs to go out. He knows some tricks and rides well in a vehicle. Gauge is up to date on vaccines but requires a neuter this week."
This "sad Sam" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about her, 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah