The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Statistic Update for the Week of August 10th - August 17th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 284 (287, 307, 305, 322) *306
Sold: 154 (140, 142, 167, 162) *142
Sale To Listing Ratio: 54% (49%, 46%, 55%, 50%) *46%
Price Changes: 229 (196, 196, 197, 233) *200
Listings that went conditional/pending: 184 (151, 191, 194, 160) *167
Expired/Cancelled/Withdrawn: 131 (115, 290, 115, 119) *154
Total Active Halifax/Dartmouth Inventory: 4,778 (4,804, 4,805, 4,884, 4,894) *5,411
Absorption Rate in weeks: 32 (32, 30, 30, 30) *48
Single Family Home Stats
Active Single Family Home: 2,956 (2,974, 2,968, 2,999, 3,010) *3,556
Average Single Family Home List Price: $291,771 ($310k, $325k,$300k,$324k) *$278k
Average Single Family Home Selling Price: $277,883 ($303k,$314k,$287k,$314k) *$265k
Single Family Home Sale to List Ratio This Week: 95% (97%, 97%, 96%, 97%) *95%
Median Single Family Home List Price (6 mo): $279,900 ($280k,$280k,$279k,$279k)*$253k
Median Single Family Home Sold Price (6 mo): $270,950 ($271k,$272k,$270k$279k)*$243k
Average Days on Market Single Family Home: 82 (70, 81, 74, 68) *102
Active Condos: 423 (440, 451, 473, 479) *502
Average Condo Listing Price: $265,904 ($276k, $279k, $237k, $261k) *$207k
Average Condo Selling Price: $258,194 ($271k, $277k, $227k, $257k) *$199k
Condo Sale to List Ratio This Week: 97% (98%, 97%, 96%, 98%) 96%
Median Condo List Price (6 mo): $242,400 ($235k, $235k, $235k, $235k) *$184k
Median Condo Sold Price (6 mo): $230,000 ($225k, $225k, $225k, $225k) *$180k
Average Days on Market Condos: 82 (82, 68, 66, 65) *61
Active Vacant Lots: 1,173 (1,158, 1,158, 1,176, 1,156) *1,088
I wonder if we really are headed towards our normal "slower" market season? Sure, the inventory is reluctantly winding down, and sales might not be as aggressive as they reported in the peak of the year, but there really isn't much changing from week to week. New listings are averagely reporting around the 300 mark, and sales are reporting in the 150-160's week to week. This has made for a typical sales to list report around the 50% mark over the last few months, turning what has long been a "buyers market", into an apparent balanced market in a relatively short time. "A balanced market (also called a neutral market) is one in which the buyer and seller scales are equal. The number of buyers to sellers has normalized and reached an equilibrium; there are not any volatile market swings." Seems an accurate description of the current market environment out there, not including hot and cold zones. Time will tell which way the market will go. Will the balanced market trend continue, or will we switch over to a buyers or sellers market? One way to stay on top of it, checking in to the Halifax Real Estate Blog to stay up to date! Thanks for stopping by!
Just look at that smile!
The Weekly Adogtable!
This beautiful bluenose-pitty mix is looking for a new family to play fetch with. Audrey is a very bubbly girl and loves to meet new people - you can spot her bum wiggling from a mile away! She looks forward to hanging out on the couch, receiving belly rubs and sneaking in all the kisses she can get (if you let her).
Her ideal home would be one of the following:
-Free of other animals (she is very anxious around cats and other dogs; will politely say hello, but can be dominate)
-Active, yet laid back when the time is right
-Kids over the age of 8, as she can be quite pushy and grabby with her toys
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about him and 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!
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Newest Blog post HERE
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..