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 February 4th - February 11th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 252 (265, 290, 274, 261) *339
Sold: 86 (101, 104, 68, 70) *93
Sale To Listing Ratio: 34% (38%, 36%, 25%, 27%) *27%
Price Changes: 103 (152, 136, 136, 134)
Listings that went conditional/pending: 115 (117, 135, 137, 96) *102
Expired/Cancelled/Withdrawn: 115 (132, 139, 128, 119) *81
Total Active Halifax/Dartmouth Inventory: 4,211 (4,183, 4,244, 4,228, 4,234) *4,328
Absorption Rate in weeks: 47 (49, 58, 62) *64
Single Family Home Stats
Active Single Family Home: 2,723 (2,703, 2,752, 2,755, 2,771) *2,852
Average Single Family Home List Price: $298,146 ($274k, $249k, $261k, $296k) *$274k
Average Single Family Home Selling Price: $286,161 ($261k, $241k, $252k, $282k) *$265k
Single Family Home Sale to List Ratio This Week: 96% (95%, 97%, 97%, 94%) *97%
Median Single Family Home List Price: $259,900 ($250k, $225k, $247k, $240k)
Median Single Family Home Sold Price: $254,450 ($240k, $223k, $243k, $235k)
Average Days on Market Single Family Home: 122 (131, 107, 137, 127) *105
Active Condos: 379 (375, 376, 361, 357) *420
Average Condo Listing Price: $282,320 ($241, $236k, $231k, $257k) *$242k
Average Condo Selling Price: $276,890 ($233k, $227k, $220k, $242k) *$238k
Condo Sale to List Ratio This Week: 98% (97%, 96%, 95%, 94%) *98%
Median Condo List Price: $276,000 ($219k, $222k, $230k, $230k)
Median Condo Sold Price: $264,900 ($209k, $217k, $215k, $225k)
Average Days on Market Condos: 159 (140, 95, 110, 114) *76
Active Vacant Lots: 882 (874, 887, 886, 882) *801
Not a bad week on the market despite the dump of snow we received earlier in the week. Even with 40cm of snow falling on Halifax, it didn't stop 252 properties from hopping on the market this week, and it didn't slow down 115 Buyers from offering on properties either, so I would say things are moving forward regardless of what mother nature tosses at us. It is a good time to start thinking of selling property, as we approach the Spring market, giving ample time to consider your marketing strategy and weigh listing options is always good idea. I imagine with the news of a slightly improved market coupled with an injection of new buyers (hopefully), Sellers may be ready to test the waters again, or attempt a first try at least. Will that rush put the overall inventory numbers to even greater heights this year, or have things finally changed directions? Hard to predict at this point, but if I was a betting man, I would go out on a limb and predict that this year will be different then the last few. Guess only time will tell. Thanks for stopping by!
Don't miss the monthly wrap up report for January 2016, simply scroll down to check out how the first month of the year placed!
Introducing 11 Month old am staff mix, Jet. This delightful boy is in need of stability in a home and needs a daily walk to drain energy. He is neutered and up to date on all vaccinations.He is full of energy and has a prey drive so he would like an active lifestyle home .He has had some obedience training. He would do best in a cat free, small dog free and no small kids as he is excitable. As with all good bones adoptables, proof of enrollement in training is mandatory to adopt. If you are considering adopting Jet then we recommend that you also consider Trupanion Pet Insurance
This "cuddly companion" is available through the Good Bones Dog Rescue, 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.
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. 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah