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 June 7th - 14th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 348 (378, 350, 336, 420) *343
Sold: 182 (218, 194, 195, 202) *200
Sale To Listing Ratio: 52% (58%, 55%, 58%, 48%) *58%
Price Changes: 230 (246, 264, 165, 215) *228
Listings that went conditional/pending: 220 (198, 247, 195, 237) *245
Expired/Cancelled/Withdrawn: 90 (173, 81, 90, 69) *132
Total Active Halifax/Dartmouth Inventory: 4,273 (4,249, 4,235, 4,229, 4,193) +4,909
Absorption Rate in weeks: 22 (21, 22, 23, 23) *26
Single Family Home Stats
Active Single Family Home: 2,476 (2,478, 2,472, 2,480, 2,426) *3,024
Average Single Family Home List Price: $353,249 ($333k,$339k,$322k,$356k) *$291k
Average Single Family Home Selling Price: $342,776($325k,$333k,$313k,$341k) *$283k
Single Family Home Sale to List Ratio This Week: 97% (98%, 98%, 97%, 95%) *97%
Median Single Family Home List Price (6 mo): $290,000 ($289k,$286k,$285k,$285k)*$280k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 52 (50,53, 50, 62) *75
Active Condos: 431 (422, 415, 408, 410) *482
Average Condo Listing Price: $273,103 ($321k, $307k, $285k, $254k) *$285k
Average Condo Selling Price: $264,253 ($310k, $297k, $279k, $247k) *$276k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 98%, 97%) 97%
Median Condo List Price (6 mo): $237,500 ($238k, $238k, $236k, $236k) *$230k
Median Condo Sold Price (6 mo): $225,500 ($226k, $227k, $225k, $225k) *$220k
Average Days on Market Condos: 88 (60, 59, 88, 95) *84
Active Vacant Lots: 984 (978, 975, 983, 1,000) *1,153
We knew it couldn't last forever! Talking about the week over week absorption rate reduction. It was bound to happen, even in the sizzling market that Halifax is currently enjoying, things have a tendency of mixing it up. This is the first week in the last month or so that has seen this stat add back to the clock, and even so, we are still a full four weeks less than this time last year. Pretty impressive. New listing additions reported averagely this week, with sales reporting at a low average rate as well. Values surged this week for single family home products, where the condo market cooled off a bit. Condo sales stats are up a bit though, and their six month median average has been slowly increased for weeks now. Overall, it's still a really great picture of performance for our real estate market here in Halifax, and as we approach the first half of the market year things continue to improve. Stay tuned to find out how the market did for the first half in the coming weeks! Thanks for stopping by!
The Weekly Adogtable!
Meet Makita. She was DNA tested and breeds shown were poodle, eskimo dog, beagle and small percentage of staffie. Spay, microchipped and up to date on vaccines. On parasite protection. Quiet Dog friendly but plays rough Playful w/ toys. Pulls on leash, but still remains polite. Knows basic commands. Not recommended w/ cats, she seems a bit too interested. Good with kids. Makita is a very friendly gal.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him 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!
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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