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 May 5th - May 12th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 452 (500, 388, 393, 392) *654
Sold: 174 (160, 151, 155, 144) *167
Sale To Listing Ratio: 39% (32%, 39%, 39%, 37%) *25%
Price Changes: 255 (296, 275, 193, 190, 238)
Listings that went conditional/pending: 200 (197, 181, 182, 184) *176
Expired/Cancelled/Withdrawn: 102 (250, 100, 106, 104) *164
Total Active Halifax/Dartmouth Inventory: 5,241 (5,124, 5,051, 4,961, 4,867) *5,337
Absorption Rate in weeks: 33 (34, 35, 37, 39) *46
Single Family Home Stats
Active Single Family Home: 3,526 (3,348, 3,391, 3,333, 3,277) *3,610
Average Single Family Home List Price: $335,140 ($298k, $304k, $302k, $292k) *$295k
Average Single Family Home Selling Price: $324,845 ($289k, $294k, $293k, $278k) *$286k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 95%) *97%
Median Single Family Home List Price: $299,900 (%280k, $269k, $277k, $260k)
Median Single Family Home Sold Price: $292,000 ($270k, $263k, $271k, $248k)
Average Days on Market Single Family Home: 81 (115, 85, 98, 100) *110
Active Condos: 453 (451, 450, 446, 434) *556
Average Condo Listing Price: $308,035 ($240k, $239k, $275k, $217k) *$260k
Average Condo Selling Price: $301,303 ($221k, $229k, $267k, $206k) *$256k
Condo Sale to List Ratio This Week: 98% (92%, 96%, 97%, 95%) *98%
Median Condo List Price: $264,900 ($236k, $202k, $283k, $211k)
Median Condo Sold Price: $255,875 ($230k, $185k, $271k, $198k)
Average Days on Market Condos: 64 (94, 141, 75, 95) *140
Active Vacant Lots: 1,016 (985, 972, 949, 933) *864
Another solid week on the market! Not entirely time to break out the banners and champagne just yet, but the market outlook is starting to look promising for Sellers. Another week into the Spring market and a larger gap widened between the inventory levels of this year and last. Just looking at the new listing additions compared to last, there is quite a significant difference. The abundant additions might have been late bloomers to the market, given the brutal winter in 15, but it still seems quite the difference. We have had a slower trickle of inventory than usual this year, and with positive Buyer engagement, there has been real progress to the recovery of the selling market. Just look at the absorption rate. Down a full 13 weeks from the same time last year, and decreasing every week. Buyers are still heavily active and increasing in volume, just look at the listings that have gone conditional, up 24 units more than this time last year. The market year will be summarized by the next few months (unless something extraordinary happens), but if things keep going the way they have been, it might prove to be the year that many have been hoping for. Stay tuned to find out!
This adorable amstaff mix is full of beans and loves to cuddle in your lap. She would be better suited to a home with children 12 years of age or older.
She has a good amount of energy and would enjoy long walks several times a day with some play sessions with her family.
Obedience is optional for this lovely lady, but it is always a good idea to help with bonding with your new pet.
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!
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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