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 February 15th - February 22nd, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 240 (276, 289, 199, 254) *212
Sold: 105 (99, 101, 123, 97) *103
Sale To Listing Ratio: 44% (36%, 35%, 62%, 38%) *49%
Price Changes: 106 (103, 89, 84, 84) *86
Listings that went conditional/pending: 160 (125, 146, 131, 130) *114
Expired/Cancelled/Withdrawn: 69 (88, 155, 148, 65) *69
Total Active Halifax/Dartmouth Inventory: 3,606 (3,605, 3,553, 3,521, 3,580) +4,250
Absorption Rate in weeks: 34 (34, 36, X, X) *48
Single Family Home Stats
Active Single Family Home: 1.934 (1,932, 1,903, 1,891, 1,947) *2,476
Average Single Family Home List Price: $333,467 ($304k,$323k,$308k,$332k) *$306k
Average Single Family Home Selling Price: $319,051 ($297k,$311k,$299k,$321k) *$295k
Single Family Home Sale to List Ratio This Week: 96% (98%, 96%, 97%, 97%) *96%
Median Single Family Home List Price (6 mo): $276,450 ($275k,$275,$275k,$275k)*$279k
Median Single Family Home Sold Price (6 mo):$269,900 ($268k,$269k,$268k,$269k)*$268k
Average Days on Market Single Family Home: 87 (110, 95, 91, 94) *101
Active Condos: 368 (365, 359, 348, 348) *416
Average Condo Listing Price: $249,900 ($285, $221k, $266k, $238k) *$233k
Average Condo Selling Price: $242,500 ($276k, $216k, $263k, $231k) *$228k
Condo Sale to List Ratio This Week: 97% (97%, 98%, 99%, 97%) 98%
Median Condo List Price (6 mo): $238,950 ($238k, $239k, $239k, $239k) *$230k
Median Condo Sold Price (6 mo): $232,250 ($230k, $233k, $235k, $234k) *$220k
Average Days on Market Condos: 69 (58, 87, 83, 54) *141
Active Vacant Lots: 981 (982, 963, 954, 954) *1,122
If you look at the numbers, it really doesn't look like anything really changed from last week, but of course there was! The overall inventory and tracked categories barley increased this week, giving the illusion that it was a sleepy market with measly single digit additions. Does that mean nothing happened all week? Of course not! It simply means that inventory old and new was met with factors that reduce, to balance those stats. Almost, as you would call it, a balanced market. Still not a lot of week to week additions, but buyer activity is still cookin! Just look at the number of properties that received and accepted offer this week. Without the usual crush of winter that generally puts a to halt to the market, buyers have been able to keep the search going, or start one up, and sellers had the chance to get ready to list. With the pre-Spring market already performing above expectation, the actual Spring market should be one for the books. If Sellers aren't aware of the current balanced market conditions, surely, Spring should reveal it. Keep a watch, and stay tuned to blog to keep up to date! Thanks for stopping by!
The Weekly Adogtable!
Eager to please, Savannah is always ready for the next adventure! This sweet girl is energetic and playful, sometimes rambunctiously so. Due to her young age, she's still working on her doggy manners- obedience classes are not mandatory, but definitely recommended! When meeting new people for the first time, Savannah can be shy and a bit awkward, but once she's comfortable (with the help of some treats and encouragement), she becomes a wiggly, happy soul! She would love your help being introduced to new places and things in order to overcome her occasional reluctance to leave her comfort zone.
Savannah would do best in a home:
-Without other animals (but she could learn to socialize with other dogs outside the home)
-With children over the age of 10 years
-Obedience training recommended
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her 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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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. We also offer mortgage and insurance solutions too! 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
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