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 June 30th - July 7th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 332 (403, 356, 397, 382) *464
Sold: 128 (165, 168, 171, 171) *138
Sale To Listing Ratio: 37% (41%, 47%, 43%, 45%) *30%
Price Changes: 227 (287, 302, 329, 333) *326
Listings that went conditional/pending: 138 (170, 172, 203, 208) *163
Expired/Cancelled/Withdrawn: 306 (161, 114, 148, 231) *126
Total Active Halifax/Dartmouth Inventory: 5,470 (5,518, 5,455, 5,377, 5,319) *5,800
Absorption Rate in weeks: 35 (33, 33, 33, 33) *37
Single Family Home Stats
Active Single Family Home: 3,633 (3,652, 3,653, 3,605, 3,576) *3,971
Average Single Family Home List Price: $298,203 ($296k, $311k, $307k, $297k) *$287k
Average Single Family Home Selling Price: $286,599 ($287k, $302k, $299k, $288k) *$279k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 97%, 97%) *97%
Median Single Family Home List Price: $269,999 ($260k, $279k, $285k, $276k) *$270k
Median Single Family Home Sold Price: $265,000 ($252k, $272k, $277k, $272k) *$260k
Average Days on Market Single Family Home: 80 (73, 78, 80, 81) *72
Active Condos: 492 (504, 494, 486, 478) *520
Average Condo Listing Price: $262,345 ($235k, $224k, $232k, $225k) *$257k
Average Condo Selling Price: $254,800 ($226k, $216k, $224k, $218k) *$247k
Condo Sale to List Ratio This Week: 97% (96%, 97%, 96%, 97%) *96%
Median Condo List Price: $255,500 ($218k, $210k, $232k, $200k) *225k
Median Condo Sold Price: $237,500 ($205k, $204k, $220k, $188k) *226k
Average Days on Market Condos: 84 (176, 85, 75, 42) *118
Active Vacant Lots: 1,074 (1,094, 1,043, 1,030, 1,023) *1,013
Looks like we have hit the peak of the year, and have started our slow decline into the remainder of the year. Hello everyone, and thanks for stopping by the Halifax Real Estate Blog. Activity appears to have tapered off a bit this week with most many stats reporting below average. New listing additions are down, sales are down,and listing's that went conditional are also down. Really, the only thing that is up is the number of expired/cancelled listings (by a lot), and the absorption rate (which isn't a good thing). Values remain steady however, and they have remained so this year albeit with a few ups and downs. Hopefully this is just a speed bump week on the market, and the remaining Summer months end up getting back on track. Historically however, Summer tends to be one of the slowest times on the market, and it's starting to look like this year isn't any different. Stay tuned for the latest market updates, including the June monthly summary!
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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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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