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 March 31st - April 7th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 496 (315, 346, 356, 345) *459
Sold: 131 (109, 117, 140, 100) *80
Sale To Listing Ratio: 26% (35%, 34%, 39%, 29%) *17%
Price Changes: 238 (135, 130, 133, 40)
Listings that went conditional/pending: 179 (146, 163, 149, 141) *118
Expired/Cancelled/Withdrawn: 215 (145, 116, 73, 163) *106
Total Active Halifax/Dartmouth Inventory: 4,776 (4,663, 4,641, 4,593, 4,466) *4,633
Absorption Rate in weeks: 38 (40, 39, 40, 44) *48
Single Family Home Stats
Active Single Family Home: 3,207 (3,103, 3,092, 3,032, 2,914) *3,055
Average Single Family Home List Price: $296,659 ($319k, $279k, $287k, $283k) *$299k
Average Single Family Home Selling Price: $286,643 ($305k, $271k, $276k, $274k) *$290k
Single Family Home Sale to List Ratio This Week: 97% (96%, 97%, 96%, 97%) *97%
Median Single Family Home List Price: $269,900($275k, $260k, $267k, $245k)
Median Single Family Home Sold Price: $263,900 ($260k, $250k, $258k, $235k)
Average Days on Market Single Family Home: 86 (89, 95, 94, 93) *101
Active Condos: 419 (442, 428, 421, 416) *501
Average Condo Listing Price: $259,647 ($274k, $292k, $225k, $256k) *$259k
Average Condo Selling Price: $252,168 ($268k, $281k, $216k, $247k) *$255k
Condo Sale to List Ratio This Week: 97% (98%, 96%, 96%, 96%) *98%
Median Condo List Price: $200,000 ($175k, $232k, $160k, $250k)
Median Condo Sold Price: $195,000 ($170k, $222, $152k, $238k)
Average Days on Market Condos: 95 (86, 54, 119, 109) *56
Active Vacant Lots: 927 (917, 906, 928, 922) *829
And we're off!! Although the city's weather seems to be a bit confused, the Spring market market is focused, and in full swing. Largest addition of new listing's to the market this year so far, and there are other signs that activity is up. From the early wave of listings this year, there was substantial amount's of listings that expired, or cancelled from the market. Of course, this weeks report did fall over the first of the month, so you have to expect a bit of a deviance from listings that expired, then re-listed .shortly thereafter. Sales maintained a solid footing, and it doesn't look like there will be any less sales in the coming weeks according to the listings that went conditional/pending. Good thing we are still experiencing this renewed Buyer activity, or surely the inventory would be way out off control at this point. Speaking of which, what looked like a downward trajectory for the overall levels early in the year has turned around quite quickly, and is widening the gap in the opposite direction. Not exactly what a lot of Sellers are hoping for (competition and all), but the absorption rate did drop two points from last week, and a staggering ten points overall from last year. That gives me hope that this years market has turned a new leaf, and is ready to turn the tables...well... at least balance them. Thanks for stopping by!
Sir Winston is approx 6 yrs old, cat and dog friendly, and ready for snugglin'. We are doing his exam, vaccinating, parasite control on Monday. His neuter will be later on the week. More details coming soon. He does not jump up but he is a strong puller on leash.
A home with no cats or other dogs would be best. He also likes to paw you for treats if you have them, so that is something that would need to be discouraged in case his nails are too long and could scratch a child. If you are interested in adopting then we recommend you consider Trupanion Dog Insurance
This "cuddly companion" is available through Good Bones Dog Rescue, 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.
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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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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