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 September 10th - September 17th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 305 (302, 279, 282, 357) *413
Sold: 130 (109, 125, 140, 143) *123
Sale To Listing Ratio: 43% (36%, 45%, 37%, 40%) *30%
Price Changes: 337 (268, 266, 291, 288)
Listings that went conditional/pending: 141 (128, 141, 153, 162) *116
Expired/Cancelled/Withdrawn: 179 (137, 293, 129, 126) *146
Total Active Halifax/Dartmouth Inventory: 5,835 (5,857, 5,830, 6,006, 6,015) *5,730
Absorption Rate in weeks: 46 (45, 44, 48, 44) *48
Single Family Home Stats
Active Single Family Home: 3,933 (3,958, 3,938, 4,085, 4,096) *3,830
Average Single Family Home List Price: $301,342 ($297k, $293k, $306k, $320k) *$303k
Average Single Family Home Selling Price: $289,847 ($285k, $278k, $296k, $293k) *$292k
Single Family Home Sale to List Ratio This Week: 96% (96%, 95%, 97%, 92%) *96%
Median Single Family Home List Price: $262,000 ($260k, $260k, $265k, $288k)
Median Single Family Home Sold Price: $250,000 ($250k, $248k, $263k, $269k)
Average Days on Market Single Family Home: 118 (101, 104, 104, 122) *105
Active Condos: 494 (501, 484, 516, 517) *524
Average Condo Listing Price: $244.356 ($241k, $246k, $234k, $246k) *$253k
Average Condo Selling Price: $238,245 ($233k, $238k, $225k, $231k) *$244k
Condo Sale to List Ratio This Week: 97% (97%, 96%, 96%, 94%) *96%
Median Condo List Price: $234,000 ($225k, $230k, $228k, $239k)
Median Condo Sold Price: $225,100 ($215k, $223k, $219k, $249k)
Average Days on Market Condos: 144 (97, 97, 77, 89) *100
Active Vacant Lots: 1,093 (1,086, 1,097, 1,089, 1,091) *1,029
Lot's of new and exciting things happening to the blog this week, for starters, we have a new look! Please also update your bookmarks as we are now .ca intend of .net!
So after a few weeks of back and forth, the market has decided to turn down again. Most key areas are reporting reduction including single family homes and condo inventory, but areas like new listing additions, sales and conditional offers seem to be holding strong with activity. Values remain solid, but the end of the season is starting to prevail. Trying to soak in the last of the 2015 summer/fall market, there was 337 price changes this week to make properties more attractive, and 179 listings decided that was enough and tipped their cap to fight another day. The absorption rate is just below par with last year at this time which signs, at least, that things are relatively the same as last year (exception being the inventory). Things are also better than last year in some cases at this time, but we won't truly see the overall impact for months to come. Thanks for stopping by, and stay tuned!
THE WEEKLY ADOGTABLE
Max is a boisterous and happy pup! He spent his whole life in a shelter and now he wants to have fun! He is great with out her dogs and people, no small children though. Max needs an experienced person to help him figure out life smile emoticon. We are looking for a foster or adopter who would be able to commit to Max's training. We are also looking for a trainer who is willing to help! Please share this cute guy! He loves car rides
This "cuddly companion" is available through Cool Dog Rescue, 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