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 16th - November 23rd, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 200 (223, 214, 237, 249) *218
Sold: 115 (135, 123, 121, 136) *111
Sale To Listing Ratio: 56% (61%, 58%, 51%, 55%) *51%
Price Changes: 114 (136, 179, 148, 195) *165
Listings that went conditional/pending: 133 (130, 138, 140, 158) *116
Expired/Cancelled/Withdrawn: 138 (130, 144, 337, 112) *137
Total Active Halifax/Dartmouth Inventory: 4,102 (4,142, 4,165, 4,227, 4,438) 4,817
Absorption Rate in weeks: 33 (32, 33, 33. 34) *42
Single Family Home Stats
Active Single Family Home: 2,307 (2,492, 2,511, 2,562, 2,687) *2,904
Average Single Family Home List Price: $346,945($302k,$286k,$286k,$292k) *$318k
Average Single Family Home Selling Price: $330,869 ($290k,$275k,$274k,$282k) *$303k
Single Family Home Sale to List Ratio This Week: 95% (96%, 96%, 96%, 97%) *96%
Median Single Family Home List Price (6 mo): $279,000 ($280k,$280k,$275k,$275k)*$280k
Median Single Family Home Sold Price (6 mo): $270,000 ($270k,$270k,$265k,$267k)*$273k
Average Days on Market Single Family Home: 77 (73, 80, 78, 99) *94
Active Condos: 393 (397, 403, 394, 402) *480
Average Condo Listing Price: $226,560 ($213k, $193k, $262k, $245k) *$226k
Average Condo Selling Price: $216,980 ($209k, $185k, $257k, $233k) *$220k
Condo Sale to List Ratio This Week: 96% (98%, 96%, 98%, 95%) 97%
Median Condo List Price (6 mo): $245,500 ($249k, $249k, $249k, $245k) *$230k
Median Condo Sold Price (6 mo): $239,000 ($240k, $240k, $240k, $240k) *$222k
Average Days on Market Condos: 144 (76, 88, 107, 125) *96
Active Vacant Lots: 1,002 (1,003, 1,008, 1,023, 1,093) *1,155
Activity continues its decent as we approach the colder months of the year, but there are still mixed reports with what is happening vs what should be happening. The Halifax market is still pushing right along, and although inventory continues to reduce, buyer active remains steady. The continued lower product additions this year and increased buyer tempo have really made for an interesting market environment, and one that has been stumping quite a few buyers out there. Waiting for "the one" has often turned into "the available one", with buyers conceding a few more items from the "must have list". Certainly a different experience from the last few years, and although buyers are finding it more challenging to find their home, sellers are soaking it up. It's still a surprise to some sellers to hear the changed dynamic of our marketplace, and of course, its a welcomed change. The gaps in annual inventory levels from this year to last has slightly narrowed over the last few months, and this week witnessed another closing of said gap. As mentioned in a previous post, this time of year does have an annual trend of reducing to the inventory low point which bottoms out right around Christmas, so this is a normal event. It'll be a nail biter right to the buzzer I think, so stay tuned to catch the final chapter in the Halifax market year. Thanks for stopping by!
Meet Sweet Judy!
The Weekly Adogtable!
Judy is a sweet, 4 year old mix breed looking for a new home to call her own. Judy loves to run around and play, she's got lots of energy to burn and looking for a family that can fulfill her needs! Adoption requirements are as follows:
A home free of other animals - she is OK to meet other dogs and sometimes play, she does not like kitties
A home with children over the age of 8
A highly active family
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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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