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Expired/Cancelled/Withdrawn: 137 (140, 181, 458, 130) *185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!
Cooper is a young, high-energy American Staffordshire Terrier, looking for an experienced owner, who is willing to work with him one on one at obedience training. He's a playful boy that requires a lot of exercise and ideally, an enclosed backyard to run in - no apartment living for this fellow! Due to his high prey drive, Cooper would not be suited to a home with other pets or children. If you lead an active lifestyle and are ready to commit your time and energy to a dog, stop by during our adoption hours to meet Cooper
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Dartmouth, 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. Don't forget to bookmark my page, and visit often!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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