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 August 13th - August 20th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 282 (357, 340, 335, 360) *411
Sold: 104 (143, 121, 136, 165) *134
Sale To Listing Ratio: 37% (40%, 36%, 41%, 46%) *33%
Price Changes: 291 (288, 254, 302, 310)
Listings that went conditional/pending: 153 (162, 117, 180, 164) *132
Expired/Cancelled/Withdrawn: 129 (126, 241, 117, 137) *128
Total Active Halifax/Dartmouth Inventory: 6,006 (6,015, 5,960, 5,991, 5,962) *5,783
Absorption Rate in weeks: 48 (44, 44, 43, 41) *46
Single Family Home Stats
Active Single Family Home: 4,085 (4,096, 4,085, 4,092, 4,097) *3,900
Average Single Family Home List Price: $305,893 ($320k, $319k, $304k, $289k) *$297k
Average Single Family Home Selling Price: $295,595 ($293k, $308k, $281k, $277k) *$286k
Single Family Home Sale to List Ratio This Week: 97% (92%, 96%, 92%, 96%) *97%
Median Single Family Home List Price: $265,000 ($288k, $264k, $290k, $271k)
Median Single Family Home Sold Price: $262,900 ($269k, $258k, $277k, $262k)
Average Days on Market Single Family Home: 104 (122, 100, 113, 76) *114
Active Condos: 516 (517, 514, 522, 522) *545
Average Condo Listing Price: $234,050 ($246k, $271k, $263k, $242k) *$256k
Average Condo Selling Price: $224,475 ($231k, $262k, $239k, $237k) *$248k
Condo Sale to List Ratio This Week: 96% (94%, 96%, 96%, 98%) *97%
Median Condo List Price: $227,450 ($239k, $260k, $239k, $226k)
Median Condo Sold Price: $218,500 ($249k, $257k, $230k, $220k)
Average Days on Market Condos: 77 (89, 74, 68, 79) *137
Active Vacant Lots: 1,089 (1,091, 1,067, 1,070, 1,040) *968
Looks like last week was the "last hoorah" of the peak market season. Levels of inventory across the board are down, and new listings are actually a little leaner than what has been reported all year. Sales are still sluggish however, and not only did we make a fairly large point jump in the absorption rate, the sales to list ratio took a hit as well. Still, values remain intact and activity remains positive, but that positivity cannot cloud the record breaking inventory heights, nor cover up the lacklustre sales that hinder the market here in Halifax. There was more price changes this week than new listings, and twenty five more listings that either expired, cancelled, or withdrew their listing than sold. Still, activity is still prevalent, and with the inventory on the downward trend, I guess you could say there is less competition. Thanks for stopping by!
THE WEEKLY ADOGTABLE
Breed: Chihuahua mix
Chico is a 16 year old Chi mix searching for a new, quiet home to spend the rest of his days. He's a cute little guy, with lots of charisma! He loves to go for his walks, and treats are his absolute favourite.
We are asking for a home with no young children as he is an older, fragile boy. He would make a great companion for another little dog, and would be fine with kitties too.
This "cuddly companion" is available through Homeward Bound City Pound, 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah