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 December 7th - December 14th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 160 (246, 191, 200, 223) *115
Sold: 96 (116, 134, 115, 135) *89
Sale To Listing Ratio: 43% (47%, 70%, 56%, 61%) *77%
Price Changes: 73 (116, 107, 114, 136) *96
Listings that went conditional/pending: 109 (103, 127, 133, 130) *81
Expired/Cancelled/Withdrawn: 116 (341, 105, 138, 130) *121
Total Active Halifax/Dartmouth Inventory: 3,781 (3,836, 4,057, 4,102, 4,142) +4,482
Absorption Rate in weeks: 33 (31, 32, 33, 32) *45
Single Family Home Stats
Active Single Family Home: 2,061 (2,119, 2,256, 2,307, 2,492) *2,638
Average Single Family Home List Price: $334,192 ($305k,$319k,$347k,$302k) *$286k
Average Single Family Home Selling Price: $321,260 ($296k,$311k,$331k,$290k) *$274k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 95%, 96%) *96%
Median Single Family Home List Price (6 mo): $278,800 ($279k,$279k,$279k,$280k)*$280k
Median Single Family Home Sold Price (6 mo): $269,900 ($270k,$270k,$270k,$270k)*$271k
Average Days on Market Single Family Home: 69 (94, 90, 77, 73) *118
Active Condos: 369 (374, 389, 393, 397) *437
Average Condo Listing Price: $249,434 ($257k, $261k, $227k, $213k) *$235k
Average Condo Selling Price: $241,514 ($247k, $231k, $217k, $209k) *$222k
Condo Sale to List Ratio This Week: 97% (96%, 88%, 96%, 98%) 95%
Median Condo List Price (6 mo): $248,950 ($246k, $245k, $246k, $249k) *$230k
Median Condo Sold Price (6 mo): $239,950 ($239k, $236k, $239k, $240k) *$224k
Average Days on Market Condos: 97 (65, 83, 144, 76) *106
Active Vacant Lots: 964 (958, 1,016, 1,002, 1,003) *1,134
By this time last year, the market was a few months into what is now reflected on as the turnaround time from the 2012-15 year doldrums. It took a fair time to shake the funk, but this year sustained the momentum that the end of last year provided and continued to build. One year later, we are really starting to see the effects of an active market, and it still seems like there is no slowing in sight. Most of the key market factors are trending towards carrying this activity into the new year, which might make the Spring market that much more challenging for buyers in 2018. 2017 already had buyers feeling the new market dynamic of less selection and higher competition, so if it keeps up, the buying process for some will become that much more drawn out process. Taking a quick look though, you can see the improvements overall. Inventory is down across the board, values are up, the absorption rate is way down, buyer activity is still up, and products overall are spending less time on market, days for some listings. As we head towards the end of the year, activity should continue to taper off, but the anticipation is that it will ramp right back up again once the new year arrives. You'll have to stay tuned to the blog to find out! Thanks for stopping by!
The Weekly Adogtable!
Maddox is a happy, rambunctious young dog with a lot of energy to burn! You'll need a strong set of lungs and good running legs to keep up with him, because he just wants to MOVE! He has yet to learn that sharing is caring, and will display guarding behaviour specifically over toys- for this reason, he would do best in a home with an adopter who is experienced and confident, and older children who understand when he needs his space. Maddox would be thrilled to explore all your favourite outdoor places (and the comfiest spot on your bed). He prefers to be spoiled with love instead of treats, but we're sure he's bound to have a favourite that we have yet to discover.
Maddox's ideal home environment would be:
-Without other animals (due to elevated stress around other animals)
-With children over the age of 12
-Experienced adopters who understand dog behaviours
-Proof of registration in obedience training mandatory upon adoption
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.
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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