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 March 30th - April 6th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 416 (306, 289, 345, 370) *496
Sold: 141 (112, 117, 118, 89) *131
Sale To Listing Ratio: 34% (37%, 41%, 34%, 24%) *26%
Price Changes: 166 (156, 116, 125, 137) *238
Listings that went conditional/pending: 176 (145, 163, 160, 105) *179
Expired/Cancelled/Withdrawn: 230 (73, 78, 72, 97) *215
Total Active Halifax/Dartmouth Inventory: 4,596 (4,577, 4,490, 4,459, 4,367) *4,776
Absorption Rate in weeks: 38 (43, 43, 44, 48) *38
Single Family Home Stats
Active Single Family Home: 2,733 (2,696, 2,639, 2,624, 2,555) *3,207
Average Single Family Home List Price: $297,459 ($313k, $314k, $357k, $325k) *$297k
Average Single Family Home Selling Price: $286,961 ($305k, $306k, $346k, $316k) *$287k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $274,900 ($278k, $279k, $276k,$279k) *$270k
Median Single Family Home Sold Price(6 mo): $265,500 ($268k,$268k,$267k,$268k)*$264k
Average Days on Market Single Family Home: 115 (89, 86, 89, 119) *86
Active Condos: 466 (465, 452, 440, 440, 414) *419
Average Condo Listing Price: $223,500 ($252k, $334k, $298k, $321k) *$260k
Average Condo Selling Price: $215,000 ($244k, $320k, $290k, $303k) *$252k
Condo Sale to List Ratio This Week: 96% (97%, 96%, 97%, 94%) 97%
Median Condo List Price (6 mo): $219,900 ($225k, $225k, $225k, $230k) *$200k
Median Condo Sold Price (6 mo): $215,000 ($215k, $218k, $219k, $220k) *$195k
Average Days on Market Condos: 70 (56, 87, 146, 85, 113) *95
Active Vacant Lots: 1,154 (1,174, 1,161, 1,158, 1,138) *927
.Welcome to the Spring market, although it sure doesn't fell like it out there. The first week if April is the unofficial marker for sellers to aim at, but the dreary forecast has put a "damper" on their plans. Still a good showing this week despite the white stuff, but definitely fell short of last years listing additions with that whopping 496 count. Buyer activity remains steady and on par with last year at this time, and did manage to surpass last years report. Values remain steady, although single family homes took a bit of an undercut, but overall prices are holding strong. I would be pretty vain to think my rant last week regarding vacant land had anything to do with the decrease in inventory in quite a while, but it does seem pretty coincidental, especially for this time of year! More likely, it was a few larger developments that have paused their listings to try again another day, but I wonder... With the first quarter in the bag, I will be interested to see how the market reported overall, and I plan on getting that report to the blog asap! You will have to stop by to see for yourself! Thanks for checking in, and don't hesitate to reach out should you have any questions regarding the Halifax Real Estate Market, or if you are thinking of buying or selling!
Meet Hunter. A 2 year old Rottweiller. He loves people, playing fetch and other dogs. He is social but cats unknown. He dislikes vets and is sensitive to touch around his head and neck so although he loves kids we say no kids because of this.
This "cuddly companion" is available through Good Bones Dog Rescue, 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
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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