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 8th 2015 - October 15th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 265 (328, 553, 326, 305) *306
Sold: 87 (117, 129, 128, 130) *94
Sale To Listing Ratio: 33% (36%, 23%, 39%, 43%) *31%
Price Changes: 215 (243, 295, 289, 337)
Listings that went conditional/pending: 113 (144, 145, 140, 141) *99
Expired/Cancelled/Withdrawn: 161 (344, 321, 172, 179) *143
Total Active Halifax/Dartmouth Inventory: 5,693 (5,720, 5,729, 5,841, 5,835) *5,516
Absorption Rate in weeks: 49 (45, 46, 48, 46) 49
Single Family Home Stats
Active Single Family Home: 3,822 (3,860, 3,869, 3,935, 3,933) *3,651
Average Single Family Home List Price: $255,365 ($250k, $289k, $267k, $301k) *$302k
Average Single Family Home Selling Price: $242,447 ($242k, $280k, $256k, $290k) *$290k
Single Family Home Sale to List Ratio This Week: 95% (97%, 96%, 96%, 96%) *96%
Median Single Family Home List Price: $244,900 ($250k, $282k, $259k, $262k)
Median Single Family Home Sold Price: $227,500 ($248k, $257k, $252k, $250k)
Average Days on Market Single Family Home: 113 (71, 157, 82, 118) *87
Active Condos: 475 (461, 474, 497, 494) *508
Average Condo Listing Price: $252,736 ($262k, $291k, $360k, $244k) *$248k
Average Condo Selling Price: $230,374 ($251k, $280k, $349k, $238k) *$240k
Condo Sale to List Ratio This Week: 91% (96%, 96%, 97%, 97%) *97%
Median Condo List Price: $240,000 ($240k, $233k, $236k, $234k)
Median Condo Sold Price: $226,000 ($229k, $225k, $226k, $225k)
Average Days on Market Condos: 101 (92, 150, 145, 144) *110
Active Vacant Lots: 1,108 (1,102, 1,083, 1,097, 1,093) *1,017
I do believe we had bit of an interruption this week. Hello everyone, and thanks for stopping by! Thanksgiving is a wonderful time of year, where the turkey comes plentiful, and the gravy flows abundantly. Unfortunately, this keeps buyers and sellers at bay to commence their usual activity. Annually, this week is always a slow performer, being bested by the other holiday that grinds most things to a halt...Christmas. New listings are significantly down this week, and again, the interesting stand out of the stats this week is the lower than average list/sale prices. It seems, for the second week in a row, that the most common thing moving right now is properties at the starter home price point. While most people are starting to pack there listings in for the season, the dwindling competition and renewed activity may make it a strategic time to consider listing. I do think however, that a competitive price point is, and continues to be, the strategy that allows the neglect of such market influences.
THE WEEKLY ADOGTABLE
Hello, my name is Maia! I am around 6 years old and am a super happy girl! I currently weigh 70 pounds so would like a family that will give me lots of exercise to help me lose some weight! I love to go for walks and play with my toys. I will do well with an active family with a confident owner that has experience with bigger dogs. I am anxious around smaller dogs, especially when they bark at me! I will need a family that understands I may not be able to be around all other dogs and will help me work on this issue! I know sit, paw, down, and to go to my mat. I love to work and learn! Come meet me today!
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