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 November 15th - 23rd, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 167 (202, 268, 233, 225) *200
Sold: 104 (99, 111, 121, 117) *115
Sale To Listing Ratio: 62% (49%, 41%, 50%, 52%) *56%
Price Changes: 113 (101, 126, 165, 118) *114
Listings that went conditional/pending: 128 (134, 147, 140, 128) *133
Expired/Cancelled/Withdrawn: 96 (100, 203, 281, 101) *138
Total Active Halifax/Dartmouth Inventory: 3,645 (3,704, 3,732, 3,731, 3,884) +4,102
Absorption Rate in weeks: 34 (33, 31, 31, 31) *33
Single Family Home Stats
Active Single Family Home: 1,990 (2,042, 2,078, 2,089, 2,181) *2,307
Average Single Family Home List Price: $319,781 ($329k,$336k,$292k,$305k) *$347k
Average Single Family Home Selling Price: $310,093 ($320k,$321k,$281k,$295k) *$331k
Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 96%, 97%) *95%
Median Single Family Home List Price (6 mo): $284,950 ($289k,$289k,$289k,$290k)*$279k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$282k)*$270k
Average Days on Market Single Family Home: 85 (101, 115, 63, 49) *77
Active Condos: 338 (312, 318, 313, 315, 317) *393
Average Condo Listing Price: $220,628 ($286k, $253k, $287k, $262k) *$226k
Average Condo Selling Price: $216,466 ($281k, $246k, $277k, $253k) *$217k
Condo Sale to List Ratio This Week: 98% (98%, 97%, 96%, 96%) 96%
Median Condo List Price (6 mo): $231,250 ($235k, $233k, $230k, $230k) *$246k
Median Condo Sold Price (6 mo): $225,000 ($225k, $225k, $224k, $221k) *$239k
Average Days on Market Condos: 57 (51, 87, 155, 101) *144
Active Vacant Lots: 1,034 (1,031, 1,023, 1,027, 1,064) *1,002
Yet another ho-hum week on the market. Listings are still trickling in, although, reported much lower than annual averages, and most other stats also quite par for the time of year. One of the call outs of the week is the absorption rate. While most of the year leaned favour in the 2018 market year direction, this week actually reported higher than last year at this time. I fell like it has been a long time coming though. Since the almost full-stop of activity that happened in September, the market has had its weeks of surging activity since then, but was also followed by a complete fall off the next. It's certainly been a hot and cold, back and forth Fall market, except of course those areas of the region that are still enjoying a sellers market. A few more months of this continued activity, and that environment is sure to change. Thanks for stopping by!
The Weekly Adogtable!
Meet Loly! Loly is a female aged 6 years old with medium energy. She is spayed, microchipped , vaccinated and on parasite prevention. Loving temperament and thinks she is a lap dog. Pet free clicker and positive reinforcement trained. No pets or kids for Loly as she is anxious. Can be head strong but we figured out she will work for her food.
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her and 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