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 27th - December 3rd, 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 232 (241, 248, 234, 291) *273
Sold: 116 (102, 125, 94, 98) *90
Sale To Listing Ratio: 50% (42%, 50%, 40%, 34%) *33%
Price Changes: 166 (214, 219, 184, 250)
Listings that went conditional/pending: 99 (109, 114, 108, 126) *90
Expired/Cancelled/Withdrawn: 525 (185, 199, 221, 729) *340
Total Active Halifax/Dartmouth Inventory: 4,893 (5,235, 5,278, 5,339, 5,407) *4,840
Absorption Rate in weeks: 44 (50, 49, 51, 53) 60
Single Family Home Stats
Active Single Family Home: 3,174 (3,427, 3,472, 3,533, 3,593, 3,792) *3,117
Average Single Family Home List Price: $344,276 ($291k, $323k, $316k, $295k) *$273k
Average Single Family Home Selling Price: $326,856 ($279k, $303k, $298k, $292k) *$262k
Single Family Home Sale to List Ratio This Week: 95% (96%, 94%, 94%, 99%) *96%
Median Single Family Home List Price: $289,900 ($275k, $255k, $240k, $280k)
Median Single Family Home Sold Price: $282,500 ($263k, $246k, $230k, $270k)
Average Days on Market Single Family Home: 105 (104, 143, 82, 115) *118
Active Condos: 418 (432, 441, 450, 445) *440
Average Condo Listing Price: $350,199 ($270k, $220k, $222k, $440k) *$261k
Average Condo Selling Price: $326,055 ($260k, $209k, $213k, $430k) *$253k
Condo Sale to List Ratio This Week: 93% (96%, 95%, 94%, 98%) *97%
Median Condo List Price: $244,449 ($209k, $235k, $228k, 285k)
Median Condo Sold Price: $231,500 ($200k, $228k, $213k, $280k)
Average Days on Market Condos: 150 (91, 115, 77, 76) *153
Active Vacant Lots: 1,035 (1,071, 1,067, 1,073, 1,073) *983
Some interesting numbers this week! The massive pile of listings that retreated from the market this week had a huge impact on the overall numbers, and as such, narrowed the overall inventory gap between this year and last year to double digits. Maybe the residual effect, but a strong sales and limited new listing week boosted the sales to list ratio back to 50% for the second time this year; two weeks ago being the first. Values were solid yet again this week, but the average single family home values may have been pushed out of whack due to the $5 million dollar estate that sold this week, however, median prices stay true to form. Quite a significantly lower absorption rate at this time comparably, while averagely, it has been on line or just below last years stats. I want to say that the end of the year is proving to be the soft adjustment that many were looking for, but it just doesn't seem to be adding up entirely. Activity in general continues it's decline, but the positive note is that what little activity there is, it seems to be set in the right direction.
Spartacus is a four month old pup searching for his home for the holidays! This handsome boy may be small now, but we expect him to be at least 70lbs when he's all grown up - 70lbs of FUN, once he gets all his manners and basic commands in order :) He gets along great with the other dogs, but would benefit from further socialization with dogs and people! He hasn't met any kitties yet, but with the right integration it could work. A home with children would be great, but keep in mind puppies like to use their mouths when playing. Obedience training is mandatory upon adoption.
Come meet this sweet boy 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.
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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. Thanks for stopping by!
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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