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 October 1st 2015 - October 8th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 328 (553, 326, 305, 302) *418
Sold: 117 (129, 128, 130, 109) *100
Sale To Listing Ratio: 36% (23%, 39%, 43%, 36%) *24%
Price Changes: 243 (295, 289, 337, 268)
Listings that went conditional/pending: 144 (145, 140, 141, 128) *113
Expired/Cancelled/Withdrawn: 344 (321, 172, 179, 137) *132
Total Active Halifax/Dartmouth Inventory: 5,720 (5,729, 5,841, 5,835, 5,857) *5,564
Absorption Rate in weeks: 45 (46, 48, 46, 45) 46
Single Family Home Stats
Active Single Family Home: 3,860 (3,869, 3,935, 3,933, 3,958,) *3,692
Average Single Family Home List Price: $250,196 ($289k, $267k, $301k, $297k) *$310k
Average Single Family Home Selling Price: $241,565 ($280k, $256k, $290k, $285k) *$295k
Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 96%, 96%) *95%
Median Single Family Home List Price: $249,900 ($282k, $259k, $262k, $260k)
Median Single Family Home Sold Price: $248,00 ($257k, $252k, $250k, $250k)
Average Days on Market Single Family Home: 71 (157, 82, 118, 101) *104
Active Condos: 461 (474, 497, 494, 501) *511
Average Condo Listing Price: $261,700 ($291k, $360k, $244k, $241k) *$246k
Average Condo Selling Price: $251,322($280k, $349k, $238k, $233k) *$239k
Condo Sale to List Ratio This Week: 96% (96%, 97%, 97%, 97%) *97%
Median Condo List Price: $239,900($233k, $236k, $234k, $225k)
Median Condo Sold Price: $229,000 ($225k, $226k, $225k, $215k)
Average Days on Market Condos: 92 (150, 145, 144, 97) *117
Active Vacant Lots: 1,102 (1,083, 1,097, 1,093, 1,086) *1,017
Looks like the "fall " into October has continued it's annual trend. Hello everyone, and thank you for stopping by the Halifax Real Estate Blog.ca! With fewer listing additions, and more products expiring and coming off the market, the current state of affairs is actually reflecting in a positive manner. The absorption rate came down, accepted offers are up, and sales have brought the sales to list ratio back up to the rough average of the better selling weeks of the year. Of course, it does seem that the entry level product is selling more so than the luxury palaces, but this has been the trend in the past few weeks (as you can tell by the significantly lower average selling prices). Activity has stayed positive in the third quarter of the year, and it does;t look like it's about to slow anytime soon.
THE WEEKLY ADOGTABLE
Grant is a young and handsome boy who is looking for a quiet, yet active family to spend the rest of his days with! Grant loves to play; his toys never last long so his new family should be sure to stock up! His new family will have to take it slow when introducing him with new people, but he is coming around here very nicely. Grant will need to be enrolled in obedience classes upon adoption to ensure that a solid, trusting foundation can be made with his new owners. We are recommending he be in a home with children over the age of 15, just where he can be a little nervous. Grant has met dogs that he has, and has not liked - further socialization will need to be done before introducing him to new dogs. No kitties for this boy either!
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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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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah