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 April 7th - April 14th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 392 (496, 315, 346, 356) *518
Sold: 144 (131, 109, 117, 140) *112
Sale To Listing Ratio: 37% (26%, 35%, 34%, 39%) *22%
Price Changes: 190 (238, 135, 130, 133)
Listings that went conditional/pending: 184 (179, 146, 163, 149) *146
Expired/Cancelled/Withdrawn: 104 (215, 145, 116, 73) *91
Total Active Halifax/Dartmouth Inventory: 4,867 (4,776, 4,663, 4,641, 4,593) *4,756
Absorption Rate in weeks: 39 (38, 40, 39, 40) *47
Single Family Home Stats
Active Single Family Home: 3,277 (3,207, 3,103, 3,092, 3,032) *3,158
Average Single Family Home List Price: $291,646 ($297k, $319k, $279k, $287k) *$287k
Average Single Family Home Selling Price: $278,072 ($287k, $305k, $271k, $276k) *$278k
Single Family Home Sale to List Ratio This Week: 95% (97%, 96%, 97%, 96%) *97%
Median Single Family Home List Price: $259,900($270k, $275k, $260k, $267k)
Median Single Family Home Sold Price: $248,000 ($264k, $260k, $250k, $258k)
Average Days on Market Single Family Home: 100 (86, 89, 95, 94) *101
Active Condos: 434 (419, 442, 428, 421) *507
Average Condo Listing Price: $216,950 ($260k, $274k, $292k, $225k) *$249k
Average Condo Selling Price: $205,621 ($252k, $268k, $281k, $216k) *$241k
Condo Sale to List Ratio This Week: 95% (97%, 98%, 96%, 96%) *97%
Median Condo List Price: $211,400 ($200k, $175k, $232k, $160k)
Median Condo Sold Price: $197,500 ($195k, $170k, $222, $152k)
Average Days on Market Condos: 95 (95, 86, 54, 119) *109
Active Vacant Lots: 933 (927, 917, 906, 928) *832
Fairly average week this week, but average to the type of year we are having so far...strange. Late in the market season last year things turned around, for what looked to be a promising change. If you have been following the blog as of late, you will know that the turn of events I speak of has reversed its march, and we are now headed into a Spring market with record numbers of inventory... yet again. Listings pile to the market in attempt to get sold, meanwhile, Buyers are loving the competition and selection, albeit too much, which can be a bad thing. Too much choice makes finding things a bit more difficult, and squews the vision of those looking for that seemingly impossible deal. The flip side of this years market is a steady stream of Buyers. Missing from the previous few years, Buyer activity has reported much higher this year comparably. This is measured week over week, and tracked by how many listings go conditional, or accept an offer on the property.
Meet Chloe! Chloe is a larger sized dog who is on the hunt for a new forever home. She would love to find an active family who would include her on long walks and weekend adventures. Chloe already knows some of the basic commands: sit, paw, lay down and is very receptive to learning new tricks!
Chloe is a shy dog who is learning to socialize and how to interact with other dogs. She would not do well at this point going to off leash dog parks, but can certainly work up to it with a patient and understanding owner.
A home with children 12 years of age and older would be the best fit.
Chloe is to go to a home with NO cats!
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!
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
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