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 March 1st - March 8th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 365 (325, 240, 276, 289) *370
Sold: 135 (129, 105, 99, 101) *89
Sale To Listing Ratio: 37% (40%, 44%, 36%, 35%) *24%
Price Changes: 127 (125, 106, 103, 89) *137
Listings that went conditional/pending: 169 (164, 160, 125, 146) *105
Expired/Cancelled/Withdrawn: 172 (139, 69, 88, 155) *97
Total Active Halifax/Dartmouth Inventory: 3,686 (3,620, 3,606, 3,605, 3,553) +4,367
Absorption Rate in weeks: 32 (33, 34, 34, 36) *48
Single Family Home Stats
Active Single Family Home: 2,010 (1,961, 1,934, 1,932, 1,903) *2,555
Average Single Family Home List Price: $348,745 ($336k,$334k,$304k,$323k) *$326k
Average Single Family Home Selling Price: $336,419 ($322k,$319k,$297k,$311k) *$316k
Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 98%, 96%) *97%
Median Single Family Home List Price (6 mo): $278,650 ($279k,$277k,$275k,$275k)*$279k
Median Single Family Home Sold Price (6 mo):$269,500 ($270k,$270k,$268k,$269k)*$268k
Average Days on Market Single Family Home: 93 (73, 87, 110, 95) *119
Active Condos: 370 (366, 368, 365, 359) *440
Average Condo Listing Price: $276,786 ($227k, $250k, $285, $221k) *$321k
Average Condo Selling Price: $266,326 ($221k, $243k, $276k, $216k) *$303k
Condo Sale to List Ratio This Week: 96% (97%, 97%, 97%, 98%) 94%
Median Condo List Price (6 mo): $239,000 ($239k, $239k, $238k, $239k) *$230k
Median Condo Sold Price (6 mo): $233,000 ($232k, $232k, $230k, $233k) *$220k
Average Days on Market Condos: 80 (47, 69, 58, 87) *85
Active Vacant Lots: 980 (973, 981, 982, 963) *1,138
This week looks very similar to the same time last year, as far as stats go anyways. I'm not talking about the winter season that just doesn't want to let go. The difference from last year to this year is that there is more positive market growth. More sales, less price changes, way more offers being accepted, an much less inventory. You would think that with the solid sales performance and this continued market strength that you would see less listings that end up on the unfortunate end of expiration/cancelation, however this is still quite high! Certainly, there are locations that just aren't feeling the good market vibes, and others who have a saleability issue wether it be a price problem, condition issue, or location woes. You would think these would be more limited in a market like the current one we are in, but there sure is a lot of them this week! It is the first week of the month though, so there is that factor too (listing expiry/relist churn), but this week was a bit exceptional. At the Winter finish line, so a few more weeks and we can put days like today in the books and get on with the Spring market! Stay tuned as the market (and hopefully weather) continue to heat up! Thanks for stopping by!
The Weekly Adogtable!
Meet lovable IRIE. He is vaccinated and on Bordetella. Dewormed. We will be neutering and microchipping him before adoption. Docile and social Medium-high energy Knows basic commands Walks well on leash, does not pull too much Ideal dog for an active person/ family who likes to go for walks, run, play ball, etc. Unknown w/ cats Seems playful w/ other dogs Kids 10+ as he is strong and could knock them kid(s) down.
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!
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. Don't forget to bookmark my page, and visit often
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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