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 November 5th - November 12th, 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 234 (291, 257, 240, 265) *411
Sold: 94 (98, 118, 106, 87) *108
Sale To Listing Ratio: 40% (34%, 46%, 44%, 33%) *26%
Price Changes: 184 (250, 274, 289, 215)
Listings that went conditional/pending: 108 (126, 107, 124, 113) *90
Expired/Cancelled/Withdrawn: 221 (729, 428, 208, 161) *373
Total Active Halifax/Dartmouth Inventory: 5,339 (5,4075,667, 5,668, 5,693) *5,267
Absorption Rate in weeks: 51 (53, 53, 52, 49) 52
Single Family Home Stats
Active Single Family Home: 3,533 (3,593, 3,792, 3,817, 3,822) *3,472
Average Single Family Home List Price: $315,860 ($295k, $274k, $291k, $255k) *$277k
Average Single Family Home Selling Price: $298,141 ($292k, $263k, $269k, $243k) *$267k
Single Family Home Sale to List Ratio This Week: 94% (99%, 96%, 92%, 95%) *97%
Median Single Family Home List Price: $239,900 ($280k, $255k, $258k, $245k)
Median Single Family Home Sold Price: $229,900 ($270k, $261k, $241k, $228k)
Average Days on Market Single Family Home: 82 (115, 85, 87, 113) *124
Active Condos: 450 (445, 466, 468, 475) *465
Average Condo Listing Price: $222,200 ($440k, $286k, $323k, $243k) *$265k
Average Condo Selling Price: $213,414 ($430k, $279k, $316k, $230k) *$256k
Condo Sale to List Ratio This Week: 94% (98%, 97%, 98%, 91%) *97%
Median Condo List Price: $227,900 (285k, $240k, $300k, $240k)
Median Condo Sold Price: $213,414 ($280k, $229k, $289k, $226k)
Average Days on Market Condos: 77 (76, 115, 90, 101) *191
Active Vacant Lots: 1,073 (1,073, 1,101, 1,084, 1,108) *1,005
A very typical week on the market as we get set to head into the winter months. Properties continue to flop off the pile, which has really narrowed the overall inventory gap from last year. Of course, we are just waiting on the single family home inventory to come down at this point, condo's have been reporting lower inventory since early last month. Looking at the overall picture, it was a guess to when/if the overall inventory would ever settle below the heights gained from previous years, however, there does seem to be indicators that the direction is proving that way. Sale prices remain solid (as usual), and sales reported averagely, even still, we ended up dropping a couple weeks from the overall absorption rate which is another stat we have set below last year at this time. So although there is a long way to go, the third quarter of the market year seems to be shaping up, albeit at a slow pace. Thanks for stopping by!
If you missed the October monthly stats wrap up, scroll down to get caught up!
THE WEEKLY ADOGTABLE
Marsha is a young, but shy girl who is looking for a new family that has lots of TLC to give her. We are not sure how Marsha ended up with us, but we can say that she lacked socialization and unfortunately is very shy when meeting new people. She is going to need a lot of patience and love, treats don't hurt either!
She does get along nicely with other dogs, and having another in the home may help show her the ropes. If you're interested in meeting this girl, give us a call and let us know and we can arrange a meeting with her
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.
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.
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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