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 18th - February 25th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 266 (254, 252, 265, 290) *295
Sold: 100 (95, 86, 101, 104) *99
Sale To Listing Ratio: 38% (37%, 34%, 38%, 36%) *34%
Price Changes: 139 (121, 103, 152, 136)
Listings that went conditional/pending: 142 (117, 115, 117, 135) *88
Expired/Cancelled/Withdrawn: 77 (104, 115, 132, 139) *52
Total Active Halifax/Dartmouth Inventory: 4,303 (4,261, 4,211, 4,183, 4,244) *4,369
Absorption Rate in weeks: 45 (44, 47, 49, 58) *46
Single Family Home Stats
Active Single Family Home: 2,777 (2,739, 2,723, 2,703, 2,752) *2,857
Average Single Family Home List Price: $280,486 ($274k, $298k, $274k, $249k) *$297k
Average Single Family Home Selling Price: $268,978 ($260k, $285k, $261k, $241k) *$287k
Single Family Home Sale to List Ratio This Week: 96% (95%, 96%, 95%, 97%) *97%
Median Single Family Home List Price: $272,400 ($250k, $260k, $250k, $225k)
Median Single Family Home Sold Price: $265,000 ($237k, $255k, $240k, $223k)
Average Days on Market Single Family Home: 90 (105, 122, 131, 107) *134
Active Condos: 400 (394, 379, 375, 376) *432
Average Condo Listing Price: $277,357 ($260k, $282k, $241k, $236k) *$267k
Average Condo Selling Price: $267,478 ($252k, $277k, $233k, $227k) *$256k
Condo Sale to List Ratio This Week: 96% (97%, 98%, 97%, 96%) *96%
Median Condo List Price: $191,400 ($220k, $276k, $219k, $222k)
Median Condo Sold Price: $185,950 ($215k, $265k, $209k, $217k)
Average Days on Market Condos: 121 (126, 159, 140, 95) *110
Active Vacant Lots: 903 (900, 882, 874, 887) *830
So... it doesn't appear as if this hot start to the year is going to cool anytime soon. There is quite a few "Steady Eddy" stats to report this week, starting with the new listing additions. Somewhat different from the past few years, new listings are hovering, averagely, around the high 250 mark. This is definitely down from the previous few years, especially with the chance of a budding market, decent weather and the opportunity to sell. Met with this lack of listing activity, is a higher than average buyer activity report. Although sales are on par with that of last years at this time, the number of submitted and accepted offers this week nearly doubled! This buyer activity has been present from the end of 2015, and consistent (as can be) to this point.
As we approach the Spring months I do anticipate the weekly listing additions to become higher, as per trend, and it will be interesting to see what the Buyer activity level will be. Still lots of work to do though, and second and third time home buyers bracket, especially +15km of the city, are still feeling the doldrums of a down market. The hope is that with the first time home buyer products finally moving, that it will set the cascade flowing and allow those that have outgrown their first home to buy those second and third home products. That's IF they are staying in the province, or IF they are not downsizing to rentals. Both of which are a very common move in our city from that point. Just have to watch and see! Thanks for stopping by!
Dax is a handsome 10 month old Lab/Am Staff mix He is recently neutered. He is a very high energy but large (86lbs) puppy. He is very nervous meeting new people and can take a long time to get used to someone new. He becomes comfortable much quicker with females than males. Dax shows his discomfort at meeting new people by barking, growling, and trying to stay away from them. He has not ever been aggressive, it seems that is is actually scared of new people, and tries to stay away from them if possible.
Dax does not guard his food or toys and will let anyone take items away from in his mouth without fuss. He is an incredibly loving dog, and would benefit greatly from a household that can be patient and provide lots of snuggles and attention while he gets to know you and your routine. Because Dax is so big and so high energy it would be best for him to go to a home with no small children. He loves kids but doesn't realize his size and knocks even adults off balance unintentionally.
His previous owner had taught him to give "hugs" so he is still trying to learn that most people do not want him to stand on his hind legs and "hug" them with his front paws on your shoulders! An environment where he will get a ton of exercise is a must, he has an enormous amount of energy and loves to run, play tug, and chase balls. Dax is noticeably calmer and less anxious on days when he gets extra time outside to run and play.
Dax gets along very well with other dogs he has met, and plays easily with them. He also doesn't bark or make a fuss around small pets like guinea pigs and rabbits; and he gets along with kitties but will sometimes chase them. Dax knows a few basic commands such as "sit" and "come" and even when he is excited, he will usually listen very well to the commands he knows. Dax will need lots of work with learning to walk on a leash, his energy level and size, plus his nervousness with other people make it difficult to walk him on leash at the moment.
Dax is crate trained and willingly will go to his crate when told. If left out in the house alone, he will chew and occasionally mess, but he is still a puppy and all of his quirks are very trainable. Dax is a wonderful, sooky, attentive, loyal, smart dog. We hope he can find a home that will show him he is safe and loved
This "cuddly companion" is available through the Letters N Critters, 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah