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 Week of April 30th - May 7th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 665 (590, 533, 518, 459) *649
Sold: 160 (143, 125, 112, 80) *147
Sale To Listing Ratio: 24% (24%, 24%, 22%, 17%) *23%
Listings that went conditional/pending: 150 (174, 150, 162, 146, 118) *170
Expired/Cancelled/Withdrawn: 174 (66, 92, 91, 106) *124
Total Active Halifax/Dartmouth Inventory: 5,205 (5,095, 4,896, 4,756, 4,633) *5,187
Active Single Family Home: 3,491 (3,402, 3,258, 3,158, 3,055) 3,551
Average Single Family Home List Price: $291,838 ($294k, $306k, $287k, $298k) $312k
Average Single Family Home Selling Price: $280,068 ($284k, $296k, $278k) $301k
*Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 97%, 97%)
Average Days on Market Single Family Home: 100 (112, 116, 101, 101) *100
Active Condos: 563 (557, 534, 507, 501) *516
Average Condo Listing Price: $257,146 ($258k, $249k, $249k, $259k) *$244k
Average Condo Selling Price: $249,773 ($250k, $241k, $241k, $255k) *$237k
*Condo Sale to List Ratio This Week: 97% (97%, 97%, 97%, 98%)
Average Days on Market Condos: 90 (140, 77, 109, 56) *118
Absorption Rate in weeks: 47 (44, 46, 47, 48)
Active Vacant Lots: 854 (853, 831, 832, 829)
The stampede continues! Highest listing addition contribution of the year to this point, and it even edged out the strong showing from last year! As listings flood onto the now late Spring market, they are still being met with a buzz of buyer activity that doesn't seem to be waining. Because of the stronger than lately sales rate, the sales to list ratio has been remarkable high for as many listings that have come to market each week. Offers are still being accepted, and it appears that only a handful or two are falling through the cracks over the two week duration. There are many reasons why offers fall through, inspection, disclosure, financing to name a few and due diligence is key, regardless of what the market conditions are or how badly the property is desired.
One of the conditions in an offer, and sometimes a reason for an agreement to fall through is based on financing. Did you know that CMHC is changing rules and tightening loose lending practices all the time? To keep up to date with the latest in financing trends, take a visit to www.cmhc-schl.gc.ca. They also have invaluable information for anyone thinking, or in the process of, buying and selling property. Its a great idea to sit with a mortgage specialist before beginning your search. It gives you a price bracket to focus on, and gives you more confidence when ink hits paper. I highly recommend it to all of my clients, and I recommend it to you before starting your search. The more proactive you can be with the details before something happens, the more you can concentrate on whats on the table.
Silver is an older gentleman, who's had a hard life and is looking for a place to settle down and live the rest of his happy life! He's an Amstaff mix, and we estimated him to be about 7 years - this is difficult due to him being in such rough shape.
Poor Silver was used in all of the wrong ways, this is easily noticeable in his pictures and in person. But that doesn't stop him; he's such a happy guy, who loves to meet everyone! He is very obedient, and knows many tricks - he will do just about anything for a treat.
Silver would do best in a home with no other dogs, as they have not treated him well in the past. Along with no cats, but children would be fine.
If you think you can give Silver the new, happy life he needs, then come visit him today!
This "awesome ace" is available through Homeward Bound City Pound, a non profit rescue organization from Dartmouth, 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.
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 property 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.
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
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. 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