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 February 1st - February 8th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 289 (199, 254, 263, 151) *290
Sold: 101 (123, 97, 78, 55) *91
Sale To Listing Ratio: 35% (62%, 38%, 30%, 36%) *31%
Price Changes: 89 (84, 84, 116, 93) *137
Listings that went conditional/pending: 146 (131, 130, 139, 77) *131
Expired/Cancelled/Withdrawn: 155 (148, 65, 75, 100) *89
Total Active Halifax/Dartmouth Inventory: 3,553 (3,521, 3,580, 3,534, 3,487) +4,221
Absorption Rate in weeks: 36 ( X, X, X, X) *48
Single Family Home Stats
Active Single Family Home: 1.903 (1,891, 1,947, 1,937, 2,053) *2,467
Average Single Family Home List Price: $323,059 ($308k,$332k,$297k,$355k) *$321k
Average Single Family Home Selling Price: $311,208 ($299k,$321k,$275k,$310k) *$311k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 93%, 87%) *97%
Median Single Family Home List Price (6 mo): $275,000 ($275k,$275k,$275k,$280k)*$279k
Median Single Family Home Sold Price (6 mo):$269,000 ($268k,$269k,$269k,$268k)*$267k
Average Days on Market Single Family Home: 95 (91, 94, 108, 96) *113
Active Condos: 359 (348, 348, 349, 325) *408
Average Condo Listing Price: $221,241 ($266k, $238k, $276k, $266k) *$208k
Average Condo Selling Price: $215,866 ($263k, $231k, $267k, $258k) *$198k
Condo Sale to List Ratio This Week: 98% (99%, 97%, 97%, 97%) 95%
Median Condo List Price (6 mo): $238,900 ($239k, $239k, $240k, $239k) *$230k
Median Condo Sold Price (6 mo): $233,000 ($235k, $234k, $239k, $235k) *$222k
Average Days on Market Condos: 87 (83, 54, 139, 92) *178
Active Vacant Lots: 963 (954, 954, 918, 904) *1,102
January's in the books, and despite the unusual weather we've been having, the market is quite active. This week is reporting similarly to last year at this time, but with a few improvements; lower inventory levels across the board, and a significantly lower absorption rate. Most of the other stats have quite marginal variations, such as more sales, less price changes (probably due to the lower amount of products on the market), stronger values, and fewer days on market. All good things. Even though these stats are marginal, they keep chipping away week after week until eventually those small weekly contributions add up. That seems to be what happened last year. Although it was noticed that things were changing week to week, without noteworthy stat fluctuations, the improved market took its time and gradually presented itself. Luckily, the presentation hasn't stopped yet, so make sure you stay tuned to the blog to stay on top of the Halifax real estate market! Thanks for stopping by!
The Weekly Adogtable!
Are you looking for a sweet older gal with a zest for life? Diva is the ideal walking buddy and couch companion. She'll happily hit up the walking trails and explore all of your favourite outdoor spots (and maybe even help you discover some new ones)! Slowing down isn't on her to-do list, as Diva has lots of energy to spare. She'll keep you on your toes and challenge you to keep up with a goofy grin on her face!
Diva would be best suited to a home:
-Without other dogs (this diva has a bit of an attitude and lacks her doggy manners)
-With or without cats
-With children of all ages
-With an adopter prepared to consult with a veterinarian and commit to meeting Diva's dietary needs with a weight management plan for her obesity
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her 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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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. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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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