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 27th - September 3rd 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 279 (282, 357, 340, 335) *439
Sold: 125 (140, 143, 121, 136) *110
Sale To Listing Ratio: 45% (37%, 40%, 36%, 41%) *25%
Price Changes: 266 (291, 288, 254, 302)
Listings that went conditional/pending: 141 (153, 162, 117, 180) *126
Expired/Cancelled/Withdrawn: 293 (129, 126, 241, 117) *311
Total Active Halifax/Dartmouth Inventory: 5,830 (6,006, 6,015, 5,960, 5,991) *5,667
Absorption Rate in weeks: 44 (48, 44, 44, 43) *47
Single Family Home Stats
Active Single Family Home: 3,938 (4,085, 4,096, 4,085, 4,092) *3,780
Average Single Family Home List Price: $293,138 ($306k, $320k, $319k, $304k,) *$300k
Average Single Family Home Selling Price: $278,414 ($296k, $293k, $308k, $281k) *$287k
Single Family Home Sale to List Ratio This Week: 95% (97%, 92%, 96%, 92%) *96%
Median Single Family Home List Price: $260,000 ($265k, $288k, $264k, $290k)
Median Single Family Home Sold Price: $248,000 ($263k, $269k, $258k, $277k)
Average Days on Market Single Family Home: 104 (104, 122, 100, 113) *113
Active Condos: 484 (516, 517, 514, 522) *516
Average Condo Listing Price: $248,514 ($234k, $246k, $271k, $263k) *$246k
Average Condo Selling Price: $238,536 ($225k, $231k, $262k, $239k) *$237k
Condo Sale to List Ratio This Week: 96% (96%, 94%, 96%, 96%) *97%
Median Condo List Price: $230,000 ($228k, $239k, $260k, $239k)
Median Condo Sold Price: $223,000 ($219k, $249k, $257k, $230k)
Average Days on Market Condos: 97 (77, 89, 74, 68) *103
Active Vacant Lots: 1,097 (1,089, 1,091, 1,067, 1,070) *1,022
The inventory stats this week confirm that we are on the annual downward trend for this time of year, with exception to vacant land. Another event happened this week as well, condo inventory is actually less than last year! Single family homes, unfortunately, are yet to follow suit in that regard, but the gap is narrowing it seems. Activity may appear to be slowing down, but on the contrary, things are maintaining at a steady pace. Although new additions are down and the listings that failed to sell are coming off the market (causing the inventory decline), sales are still relatively strong and accepted offers are happening in high numbers. So what does this mean for sellers? Maybe a little less competition, or is it trying to appeal to a smaller crowd of buyers? I would have to say the first selection, since sales and offers are just as strong as they were in the peak of the Spring season. I have referred to September and October many times as the "secret time to sell", an it would appear that this year is no different. Thanks for stopping by!
THE WEEKLY ADOGTABLE
Age: 1 Year 6 Months
Breed: Amstaff Mix
Milton is a young Amstaff mix who is in need of a new home! This handsome boy has a TON of energy, and he'd love to burn it all off with you! He would make an excellent hiking buddy, but first he will need to touch up with his obedience training. Milton can be a bit jumpy, and mouthy so we are recommending no children under the age of 12. He's got a great personality, but needs a firm hand to tell him the right thing to do! Milton has met other dogs here at the Pound, and has done nicely however he is a big bundle of energy so if he has a doggy friend, he or she will need to be submissive. No cats for Milton!
This "snuggly sam" 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.
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
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