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 April 19th - April 26th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 350 (338, 382, 280, 295) *432
Sold: 185 (169, 158, 125, 114) *167
Sale To Listing Ratio: 53% (50%, 41%, 45%, 39%) *37%
Price Changes: 202 (166, 119, 119, 137) *200
Listings that went conditional/pending: 246 (184, 217, 154, 142) *214
Expired/Cancelled/Withdrawn: 87 (78, 106, 66, 67) *144
Total Active Halifax/Dartmouth Inventory: 4,034 (4,027, 3,958, 3,864, 3,901) +4,755
Absorption Rate in weeks: 25 (29, 30, 30, 30) *31
Single Family Home Stats
Active Single Family Home: 2,311 (2,323, 2,277, 2,132, 2,103) *2,881
Average Single Family Home List Price: $366,282 ($356k, $334k,$326k,$325k) *$330k
Average Single Family Home Selling Price: $356,150 ($345k,$321k,$315k,$314k) *$320k
Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $282,900 ($280k,$280k,$279k,$278k)*$283k
Median Single Family Home Sold Price (6 mo):$276,000 ($275k,$272k,$270k,$270k)*$276k
Average Days on Market Single Family Home: 71 (59, 67, 88, 69) *81
Active Condos: 384 (378, 371, 375, 367) *499
Average Condo Listing Price: $225,731 ($235k, $243k, $232k, $252k) *$269k
Average Condo Selling Price: $219,031 ($226k, $236k, $225k, $242k) *$261k
Condo Sale to List Ratio This Week: 97% (96%, 97%, 97%, 96%) 98%
Median Condo List Price (6 mo): $237,200 ($239k, $239k, $238k, $239k) *$225k
Median Condo Sold Price (6 mo): $226,500 ($233k, $232k, 232k, $234k) *$215k
Average Days on Market Condos: 59 (77, 108, 82, 127) *95
Active Vacant Lots: 988 (977, 970, 1,008, 1,003) *1,125
Activity overall remains steady as we edge towards closing out April 2018. Hello everyone, and thank you for tuning into the blog! No huge gains in inventory again this week, and single family homes actually reduced in rank, bucking the annual Spring gain trend. Values stayed healthy, and the average days spent on market reported...well...averagely. Big news of the week was the four week cut that the absorption rate took, which is really significant. We have been holding steady around the thirty week mark for a few months now, but the combination of lower weekly listing additions and higher sales has helped the absorption rate shed a few pounds. Continued positive news for Sellers, and continued frustrating news for Buyers. Although, it feels like a market reluctance in the air right now, like the deep breath before a forceful push. We've held this breath for a couple weeks now, so maybe the exhale will be the market equivalent to the blustery day we had today. You will have to check back to see! Thanks for stopping by!
The Weekly Adogtable!
Meet Orion! Whether you're an active runner looking for a fit pal or a self-proclaimed couch potato ready for a snuggle - Orion is your guy!
This pup is ready for life, and in search of his next adventure!
Orion requires a home:
- Without any other animals
- With children over the age of 10 as Orion can be quite rambunctious
- Obedience training highly recommended but not mandatory
This "cuddly companion" is available through Homeward Bound City Pound, 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
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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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah