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 February 2nd-9th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 290 (316, 265, 225, 254) *252
Sold: 91 (85, 96, 82, 66) *86
Sale To Listing Ratio: 31% (27%, 36%, 36%, 26%) *34%
Price Changes: 137 (133, 109, 106, 107) *103
Listings that went conditional/pending: 131 (129, 101, 100, 83) *115
Expired/Cancelled/Withdrawn: 89 (191, 101, 124, 133) *115
Total Active Halifax/Dartmouth Inventory: 4,221 (4,172, 4,171, 4,106, 4,105) *4,211
Absorption Rate in weeks: 48 (51, 54, 66, 64) *47
Single Family Home Stats
Active Single Family Home: 2,467 (2,434, 2,423, 2,388, 2,402) *2,723
Average Single Family Home List Price: $320,645 ($282k, $285k, $304k, $319k) *$299k
Average Single Family Home Selling Price: $311,214 ($271k, $273k, $293k, $306k) *$286k
Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 96%, 96%) *96%
Median Single Family Home List Price (6 months): $279,000 ($280k, $280k, $280k, $280k) *$260k
Median Single Family Home Sold Price (6 months): $267,000 ($268k, $270k, $270, $270k) *$255k
Average Days on Market Single Family Home: 113 (113, 92, 117, 101) *122
Active Condos: 408 (398, 406, 393, 383, 396) *379
Average Condo Listing Price: $208,010 ($354k, $272k, $220k, $206k) *$282k
Average Condo Selling Price: $198,200 ($345k, $266k, $209k, $198k) *$277k
Condo Sale to List Ratio This Week: 95% (97%, 98%, 95%, 96%) 98%
Median Condo List Price (6 months): $229,900 ($230k, $230k, $230k, $230k) *276k
Median Condo Sold Price (6 months): $221,700 ($223k, $222k, $225k, $225k) *264k
Average Days on Market Condos: 178 (219, 97, 126, 92, 99) *159
Active Vacant Lots: 1,102 (1,099, 1,099, 1,084, 1,173) *882
Quite the average week as we approach the midway mark of February. In a strange occurrence, the overall inventory reported exactly the same as this time last year with 4,221 products listed for sale in the HRM. So where is all of the inventory coming from? Vacant land is reporting quite a bit higher than this year last time, but that is met with a lower single family home level. Condo's are a but higher, but marginal, and surely not enough to make a dent. Even still, with the give and take of the inventory, we are set in a position that many had hoped would not happen, which is parallel with a previous year. Most hoped that the gap would continue to widen as 2016 seemed to be a promising year of recovery, but as the Fall approached, things tapered off and fell flat to end the season, which is being felt this year. Activity has been unusually strong kicking off the year, but I wonder if it's because we have had such a mild start to the season. I dare say, the looming storm and further forecast might have an impact on that activity, but for how long? Weather is temporary, but the need to buy or sell is a need that has an end, regardless of the climate. Thanks for stopping by!
Meet Ember! Ember is a 4 year old Boxer/ Amstaff Cross who is a fun and energetic girl. She is up to date on her vaccinations and has been spayed. Ember loves toys and playing fetch. She will need an active home where she gets lots of exercise. She is working on her manners, and will need someone who will take the time to work on her training. Obedience training is mandatory where Ember still has some areas to improve in. We are working on continuing house training with Ember as she is just so happy being outside, she often forgets to do her business.
Ember gets along well with other dogs, but often wants to play. She loves attention and will cuddle right up to you. She is kennel trained, it seems to be a quiet and comfortable place for her to unwind.
Cats are questionable. I think it will depend on the cats personality, she seems to want to play and gets excited when the cat tries to tell her no.
Please fill out the adoption application found at www.animalrescuecoalitions.com email back to ARC. Your application will be processed in a timely manner. Please contact your vet clinic and give them permission to speak with us about your past and present pets. We will be checking that your pets have been spayed /neutered and kept up to date with vaccinations and yearly check ups.
This "cuddly companion" is available through Animal Rescue Coalitions, a non profit rescue organization from Seabright, 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
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah