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Halifax (HRM) Residential Market Statistic Update For Week of March 24th - March 31st 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New or Back to Market Listings: 315 (346, 356, 345, 366) *459 Sold: 109 (117, 140, 100, 116) *110 Sale To Listing Ratio: 35% (34%, 39%, 29%, 32%) *24% Price Changes: 135 (130, 133, 40, 141) Listings that went conditional/pending: 146 (163, 149, 141, 172) *128 Expired/Cancelled/Withdrawn: 145 (116, 73, 163, 77) *206 Total Active Halifax/Dartmouth Inventory: 4,663 (4,641, 4,593, 4,466, 4,347) *4,532 Absorption Rate in weeks: 40 (39, 40, 44, 44) *46 Single Family Home Stats Active Single Family Home: 3,103 (3,092, 3,032, 2,914, 2,829) *2,967 Average Single Family Home List Price: $318,582 ($279k, $287k, $283k, $281k) *$299k Average Single Family Home Selling Price: $304,764 ($271k, $276k, $274k, $272k) *$290k Single Family Home Sale to List Ratio This Week: 96% (97%, 96%, 97%, 97%) *97% Median Single Family Home List Price: $274,900($260k, $267k, $245k, $260k) Median Single Family Home Sold Price: $260,000 ($250k, $258k, $235k, $257k) Average Days on Market Single Family Home: 89 (95, 94, 93, 100) *123 Condo Stats Active Condos: 442 (428, 421, 416, 402) *482 Average Condo Listing Price: $274,328 ($292k, $225k, $256k, $305k) *$259k Average Condo Selling Price: $267,761 ($281k, $216k, $247k, $295k) *$251k Condo Sale to List Ratio This Week: 98% (96%, 96%, 96%, 97%) *97% Median Condo List Price: $174,900 ($232k, $160k, $250k, $301k) Median Condo Sold Price: $170,000 ($222, $152k, $238k, $295k) Average Days on Market Condos: 86 (54, 119, 109, 80) *89 Active Vacant Lots: 917 (906, 928, 922, 901) *833 MARKET RANT March, as a whole, was a fairly average month and this week is no exception. No real peaks or valleys to go over this week, as things have somewhat evened off. New listing additions, as they have done all year so far, reported below those of last year at this time. Even with the stark comparison of weather, Sellers have simply not come out in full force to oversaturate the market. That being said, with the lower amount of weekly products hitting the street you would figure the overall inventory impact would be lower than last year, however, that is not the case. What seemed like a solid step in the right direction for the inventory, has ended up correcting and taking a step back. The overall inventory level is yet again higher than that of all previous years, and that includes single family home products. Condo's, which have enjoyed an ever decreasing gap spread from last year (however small that market captures), continues the trend reporting 40 units lower than last year at this time. Expected was the inventory surge, but not as fast as it happened this month given the positive buyer momentum. As we head into the Spring market months full steam ahead, I'll be keeping a weathered eye nn the overall affect of March and it's role in the annual picture, but I still predict a summertime balance given the noticeable differences between the two market years. Thanks for stopping by!  WEEKLY ADOPTABLE Cocoa is a sweet and gentle Chocolate Lab/Beagle mix. She is estimated at around 6 years old and would love to find a home with children 16 years of age or older in a quieter home. A home with no cats or other dogs would be best. This "cuddly companion" is available through the Dartmouth SPCA, 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. Don't forget to bookmark my page, and visit often!  The ViewPoint Realty Interactive Property Map VIEWPOINT REALTY
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 Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. 
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