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 the Week of November 17th - 24th, 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 218 (227, 276, 374, 237) *241
Sold: 111 (117, 119, 114, 102) *102
Sale To Listing Ratio: 51% (52%, 43%, 31%, 43%) *42%
Price Changes: 165 (126, 161, 195, 193) *214
Listings that went conditional/pending: 116 (102, 123, 123, 125) *109
Expired/Cancelled/Withdrawn: 137 (140, 181, 458, 130) *185
Total Active Halifax/Dartmouth Inventory: 4,817 (4,859, 4,875, 4,905, 5,085) *5,235
Absorption Rate in weeks: 42 (43, 40, 43, 43) *50
Single Family Home Stats
Active Single Family Home: 2,904 (2,964, 2,994, 3,034, 3,162) *3,427
Average Single Family Home List Price: $317,547 ($296k, $318k, $291k, $286k) *$291k
Average Single Family Home Selling Price: $303,438 ($282k, $306k, $280k) *$279k
Single Family Home Sale to List Ratio This Week: 96% (95%, 96%, 96%, 96%) *96%
Median Single Family Home List Price (6 months): $279,900 ($280k, $280k, 275k, $275k) *$275k
Median Single Family Home Sold Price (6 months): $272,500 ($274k, $268k, $267k, $267k) *$263k
Average Days on Market Single Family Home: 94 (93, 116, 115, 91) *104
Active Condos: 480 (483, 482, 480, 491) *432
Average Condo Listing Price: $226,384 ($305k, $243k, $257k, $216k) *$270k
Average Condo Selling Price: $219,911 ($289k, $231k, $246k, $205k) *$260k
Condo Sale to List Ratio This Week: 97% (95%, 95%, 96%, 95%) 96%
Median Condo List Price (6 months): $229,900 ($230k, $235k, $235k, $237k) *209k
Median Condo Sold Price (6 months): $222,200 ($225k, $225k, $225k, $228k) *200k
Average Days on Market Condos: 96 (61, 160, 96, 110, 68) *91
Active Vacant Lots: 1,155 (1,138, 1,128, 1,129, 1,158) *1,071
Another week in the books, and the market isn't ready to go quietly into that good night. As reported last week, activity has been resurrected and Buyers have returned to bring some of the stats back to life. Not only do sales remain steady, products continue to receive and accept offers as reported by the "listings that went conditional" statistic. The stats are looking better than last year at this time overall as well. Values are up, days on market are down (slightly), and the absorption rate is reporting eight weeks less, which is good to see since this time let year is when I pinpointed our slight turn around. The worry was that it wouldn't stick around, but it actually carried the remainder the year and into the new year. It's been a good year for our fair market here in Halifax, and just when it looked like it was done, things come back to life! It will definitely be interesting to see 2016 at the finish line, and trust that the HREB will have you covered on all the reports for the year. Happy Thanksgiving to our friends south of the border, and thanks for stopping by!
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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