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 December 3rd - December 10th, 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 197 (232, 241, 248, 234) *232
Sold: 84 (116, 102, 125, 94) *81
Sale To Listing Ratio: 43% (50%, 42%, 50%, 40%) *35%
Price Changes: 118 (166, 214, 219, 184)
Listings that went conditional/pending: 99 (99, 109, 114, 108) *85
Expired/Cancelled/Withdrawn: 154 (525, 185, 199, 221) *150
Total Active Halifax/Dartmouth Inventory: 4,850 (4,893, 5,235, 5,278, 5,339) *4,749
Absorption Rate in weeks: 45 (44, 50, 49, 51) 51
Single Family Home Stats
Active Single Family Home: 3,144 (3,174, 3,427, 3,472, 3,533, 3,593) *3,037
Average Single Family Home List Price: $362,213 ($344k, $291k, $323k, $316k) *$283k
Average Single Family Home Selling Price: $345,965 ($327k, $279k, $303k, $298k) *$270k
Single Family Home Sale to List Ratio This Week: 96% (95%, 96%, 94%, 94%) *96%
Median Single Family Home List Price: $277,450 ($290k, $275k, $255k, $240k)
Median Single Family Home Sold Price: $276,000 ($283k, $263k, $246k, $230k)
Average Days on Market Single Family Home: 102 (105, 104, 143, 82) *162
Active Condos: 408 (418, 432, 441, 450) *442
Average Condo Listing Price: $218,903 ($350k, $270k, $220k, $222k) *$247k
Average Condo Selling Price: $208,250 ($326k, $260k, $209k, $213k) *$235k
Condo Sale to List Ratio This Week: 95% (93%, 96%, 95%, 94%) *95%
Median Condo List Price: $247,000 ($245k, $209k, $235k, $228k)
Median Condo Sold Price: $236,750 ($232k, $200k, $228k, $213k)
Average Days on Market Condos: 91 (150, 91, 115, 77) *134
Active Vacant Lots: 1,036 (1,035, 1,071, 1,067, 1,073) *973
Time of the season is starting to impose the affect of annual trend as we approach the holiday season, but there is still some positive progress being made despite the approaching bottom. Although sales reported a typical "winter week", the lack of new additions to the market actually gave the overall sales to list ratio some weight. Compared to last year, there is a lot of positive changes that should be noted, even if marginal. Comparably, new listings are down, sales are up, offer activity is up, there's more expired/cancelled inventory pulling from the market, days spent on market are less, values for both tracked products are up, and the absorption rate markedly lower then that of last years report. The only pressing thorn is the inventory amounts.
With condo inventory finally hitting par and eventually reporting under previous reports earlier in the year, single family homes and the overall inventory are still showing record heights. The gap is closing however, and one could hope that with the final stat falling in line, that we could see the start to a refreshing new market year. Thanks for stopping by!
Franco is a big, handsome shepherd who is hoping for a home to call his own. Did we mention he is HANDSOME? Franco is looking for an experienced family as he does have some behavioural quirks. Resource guarding has been noted at the shelter, and he doesn't seem to like every dog he meets. However, this isn't to say that once he's out of this stressful environment that won't change! Franco is a lovely boy, who loves to learn. He knows his basic commands and listens very well for treats and praise. Children in the potential home should be over the age of 16 and we are asking for no kitties please :)
If you're interested in meeting this handsome boy, come on by 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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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