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 March 17th - March 24th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 346 (356, 345, 366, 266) *326
Sold: 117 (140, 100, 116, 100) *100
Sale To Listing Ratio: 34% (39%, 29%, 32%, 38%) *31%
Price Changes: 130 (133, 40, 141, 139)
Listings that went conditional/pending: 163 (149, 141, 172, 142) *109
Expired/Cancelled/Withdrawn: 116 (73, 163, 77, 104) *61
Total Active Halifax/Dartmouth Inventory: 4,641 (4,593, 4,466, 4,347, 4,303) *4,554
Absorption Rate in weeks: 39 (40, 44, 44, 45) *48
Single Family Home Stats
Active Single Family Home: 3,092 (3,032, 2,914, 2,829, 2,777) *2,944
Average Single Family Home List Price: $279,242 ($287k, $283k, $281k, $281k) *$302k
Average Single Family Home Selling Price: $270,845 ($276k, $274k, $272k, $269k) *$293k
Single Family Home Sale to List Ratio This Week: 97% (96%, 97%, 97%, 96%) *97%
Median Single Family Home List Price: $259,900($267k, $245k, $260k, $272k)
Median Single Family Home Sold Price: $250,000 ($258k, $235k, $257k, $265k)
Average Days on Market Single Family Home: 95 (94, 93, 100, 90) *99
Active Condos: 428 (421, 416, 402, 400) *484
Average Condo Listing Price: $291,675 ($225k, $256k, $305k, $277k) *$267k
Average Condo Selling Price: $281,062 ($216k, $247k, $295k, $268k) *$251k
Condo Sale to List Ratio This Week: 96% (96%, 96%, 97%, 96%) *94%
Median Condo List Price: $231,900 ($160k, $250k, $301k, $191k)
Median Condo Sold Price: $221,800 ($152k, $238k, $295k, $186k)
Average Days on Market Condos: 54 (119, 109, 80, 121) *105
Active Vacant Lots: 906 (928, 922, 901, 903) *862
Little bit of a mixed market this week. Although the overall inventory numbers continued to climb, and also continued the point spread from last year, activity is still up and better than last year this time. New listings continue to make their way to the market, and are now in higher numbers then the additions of last year. However, sales are reporting marginally better, and buyer activity, recorded as pending sales, are way up! Although mixed, this hot and cold reporting has the absorption rate continuing to drop, which is really the finger on the pulse of the current market. Value's remain strong on both tracked products, and even the days on market are reporting lower, however small. So, although there is some crossed report values, the overall market feeling is one of positive activity. Buyer activity, which has been noticeably higher, continues its run this week and shows no sign of slowing. Now if the rest of the stats would follow that trend, we'd be all set! Make sure to check in frequently to get the scoop on the latest developments, 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