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 February 8th - February 15th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 276 (289, 199, 254, 263) *178
Sold: 99 (101, 123, 97, 78) *79
Sale To Listing Ratio: 36% (35%, 62%, 38%, 30%) *44%
Price Changes: 103 (89, 84, 84, 116) *94
Listings that went conditional/pending: 125 (146, 131, 130, 139) *103
Expired/Cancelled/Withdrawn: 88 (155, 148, 65, 75) *104
Total Active Halifax/Dartmouth Inventory: 3,605 (3,553, 3,521, 3,580, 3,534) +4,217
Absorption Rate in weeks: 34 (36, X, X, X) *48
Single Family Home Stats
Active Single Family Home: 1.932 (1,903, 1,891, 1,947, 1,937) *2,472
Average Single Family Home List Price: $303,968 ($323k,$308k,$332k,$297k) *$298k
Average Single Family Home Selling Price: $297,298 ($311k,$299k,$321k,$275k) *$290k
Single Family Home Sale to List Ratio This Week: 98% (96%, 97%, 97%, 93%) *97%
Median Single Family Home List Price (6 mo): $274,900 ($275,$275k,$275k,$275k)*$279k
Median Single Family Home Sold Price (6 mo):$268,400 ($269k,$268k,$269k,$269k)*$268k
Average Days on Market Single Family Home: 110 (95, 91, 94, 108) *75
Active Condos: 365 (359, 348, 348, 349) *409
Average Condo Listing Price: $283,466 ($221k, $266k, $238k, $276k) *$210k
Average Condo Selling Price: $275,833 ($216k, $263k, $231k, $267k) *$203k
Condo Sale to List Ratio This Week: 97% (98%, 99%, 97%, 97%) 97%
Median Condo List Price (6 mo): $238,175 ($239k, $239k, $239k, $240k) *$230k
Median Condo Sold Price (6 mo): $230,000 ($233k, $235k, $234k, $239k) *$221k
Average Days on Market Condos: 58 (87, 83, 54, 139) *182
Active Vacant Lots: 982 (963, 954, 954, 918) *1,198
I'm not one to temp fate, but what happened to Winter? Don't get me wrong, I'm certainly not complaining, in fact, quite the opposite. Showing property's in knee deep snow is not ideal for all parties involved, nor is conducting inspections or driving from showing to showing in it either. The good thing about the mild Winter is that activity hasn't really skipped a beat. With a minimal number of snow/ice days, Buyers have been out in full force, scooping up property left and right. Someone might have told Sellers that it's time to dust off the "for sale" sign, as there was a surge in new listing additions this week. Levels reported higher in all product types, signalling the possibility an early Spring listing market. Almost 100 more products added this week compared to last weeks at this time, which is significant, but we witnessed more sales this year keeping that number from impacting too much. Things are still looking good, and really good for mid February, so stay tuned to stay up to date on the current state of the market. Thanks for stopping by!
The Weekly Adogtable!
This 4 year old fetching fella enjoys human companionship and would enjoy a home where he can have lots of snuggles, who could say no to that face anyway! Due to his unforeseen health issues, he has found his way to us. Fred has dermatitis and is currently under treatment, which we already see some improvement with. Fred would love to find himself in a home with children 16 years of age and older as he does not like to share items that he considers high value. This can easily be managed in the proper home.
This "cuddly companion" is available through the Provincial SPCA, 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
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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah