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 April 2nd - April 9th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 459 (459, 326, 344, 425) *531
Sold: 80 (110, 100, 97, 91) *107
Sale To Listing Ratio: 17% (24%, 31%, 29%, 21%) *20%
Listings that went conditional/pending: 118 (128, 109, 108, 107) *148
Expired/Cancelled/Withdrawn: 106 (206, 61, 64, 112) *80
Total Active Halifax/Dartmouth Inventory: 4,633 (4,532, 4,554, 4,493, 4,472) *4,820
Active Single Family Home: 3,055 (2,967, 2,944, 2,885, 2,896) 3,185
Average Single Family Home List Price: $298,248 ($299k, $302k, $298k, $299k) $272k
Average Single Family Home Selling Price: $290,255 ($290k, $288k, $286k) $265k
*Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 96%)
Average Days on Market Single Family Home: 101 (123, 99, 115, 128) *103
Active Condos: 501 (482, 484, 488, 478) *494
Average Condo Listing Price: $259,162 ($259k, $267k, $256k, $257k) *$245k
Average Condo Selling Price: $254,490 ($251k, $251k, $245k, 248k) *$237k
*Condo Sale to List Ratio This Week: 98% (97%, 94%, 97%, 97%)
Average Days on Market Condos: 56 (89, 105, 75, 71) *121
Absorption Rate in weeks: 48 (46, 48, 48, 49)
Active Vacant Lots: 829 (833, 862, 860, 838)
Looks like the thaw has finally enticed some sellers to drive that "for sale" sign into the lawn, through a big ol pile of snow! Although listings overall were down by seventy units this week compared to last year this time, for the second week straight, new products have continued to flood onto the market and show solid engagement. With the white stuff lingering around, buyers are still somewhat reluctant to get out there to have a look, but keep a weathered eye on listings as they come to market. This ensures a solid list of potentials to see when all the ice and mess is gone. Sales where down overall this week, but it seems the impact of this winter stretched its frigid reach to the Spring which caused a bit of a backlog in activity. So I wouldn't be surprised if numbers, such as the listing additions, shoot to record heights in the next few weeks in a game of catch up. Still, things press on and general market attitude is a "hurry up and melt so I can go check out some properties" one. Early stage buzz is starting to happen, which is mildly delayed from the annual trend, but it's still happening which is hopefully a sign of good things to come.
Ariel is a 2.5 year old AmStaff looking for a home with a breed experienced family. She LOVES people and loves to play, but she can be a bit rough with jumping and mouthing. Because of this, a home with children over the age of 10 would be ideal. No cats or dogs for Ariel; she likes to be the queen of her castle! Socialization with Ariel and other dogs would be a great idea as she is very anxious around other animals. Ariel does well in her run and tested nicely in the crate. She is fairly quiet, great at calming down quickly and she appears to be house trained too! Daily exercise will be essential for Ariel to be a happy and content girl. Ariel LOVES to practice her obedience; it's recommended that her new owners enroll her in obedience classes
This "giving gal" is available through Homeward Bound City Pound, a non profit rescue organization from Dartmouth, 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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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