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 June 21st - 28th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 306 (332, 348, 378, 350) *319
Sold: 217 (189, 182, 218, 194) *168
Sale To Listing Ratio: 71% (57%, 52%, 58%, 55%) *53%
Price Changes: 190 (189, 230, 246, 264) *273
Listings that went conditional/pending: 220 (222, 220, 198, 247) *198
Expired/Cancelled/Withdrawn: 80 (101, 90, 173, 81) *151
Total Active Halifax/Dartmouth Inventory: 4,273 (4,284, 4,273, 4,249, 4,235) +4,905
Absorption Rate in weeks: 21 (22, 22, 21, 22) *25
Single Family Home Stats
Active Single Family Home: 2,479 (2,489, 2,476, 2,478, 2,472) *2,869
Average Single Family Home List Price: $334,841 ($342k,$353k,$333k,$339k) *$308k
Average Single Family Home Selling Price: $322,560 ($330k,$343k,$325k,$333k) *$298k
Single Family Home Sale to List Ratio This Week: 96% (96%, 97%,98%, 98%) *97%
Median Single Family Home List Price (6 mo): $289,500 ($290k,$290k,$289k,$286k)*$280k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 58 (57, 52, 50,53) *69
Active Condos: 424 (430, 431, 422, 415) *485
Average Condo Listing Price: $238,465 ($296k, $273k, $321k, $307k) *$280k
Average Condo Selling Price: $228,612 ($290k, $264k, $310k, $297k) *$270k
Condo Sale to List Ratio This Week: 96% (98%, 97%, 97%, 97%) 96%
Median Condo List Price (6 mo): $237,700 ($239k, $238k, $238k, $238k) *$230k
Median Condo Sold Price (6 mo): $228,200 ($230k, $226k, $226k, $227k) *$220k
Average Days on Market Condos: 87 (40, 88, 60, 59) *81
Active Vacant Lots: 998 (995, 984, 978, 975) *1,165
Just when you thought the market tempo leading into Summer was questionable, not even two weeks in and bam! highest sales to list ratio of the year! The below average additions to the inventory this week, coupled with the high volume of sales set the StL ratio soaring this week, in what certainly has to be a surprise to some...including myself. Although the Spring market was a powerhouse of activity, a few weeks of that market season indicated a pattern of interruption, one that seemed to indicate the beginning of the slower time of the year. These first few weeks of Summer have proven quite the opposite. Values for both tracked products took a bit of a slide this week, along with their coupled six month median values. Despite this, buyer activity is still in full swing, and the absorption rate fell to the twenty one week mark again. Solid report overall, and a market that I am certainly interested to keep watch on. Do the same by checking into the blog on a regular basis! Thanks for stopping by!
Happy Canada Day!!
151 years to celebrate! Check out how to get involved HERE
The weekly Adogtable!
Meet Lucky. He is great with cats and dogs but no kids. He's afraid of children and will growl but has no bite history. Has food allergies and is crate trained.
He would to love play with another young dog.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him 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.
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