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 November 3rd - 10th, 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 276 (374, 237, 299, 223) *234
Sold: 119 (114, 102, 111, 125) *94
Sale To Listing Ratio: 43% (31%, 43%, 37%, 56%) *40%
Price Changes: 161 (195, 193, 222, 187) *184
Listings that went conditional/pending: 123 (123, 125, 155, 119) *108
Expired/Cancelled/Withdrawn: 181(458, 130, 171, 119) *221
Total Active Halifax/Dartmouth Inventory: 4,875 (4,905, 5,085, 5,099, 5,133) *5,339
Absorption Rate in weeks: 40 (43, 43, 40, 38) *51
Single Family Home Stats
Active Single Family Home: 2,994 (3,034, 3,162, 3,158, 3,210) *3,533
Average Single Family Home List Price: $318,068 ($291k, $286k, $293k, $287k) *$316k
Average Single Family Home Selling Price: $305,798 ($280k, $274k, $283k) *$298k
Single Family Home Sale to List Ratio This Week: 96% (96%, 96%, 97%, 97%) *94%
Median Single Family Home List Price (6 months): $279,900 (%275k, $275k, $275k, $275k) *$240k
Median Single Family Home Sold Price (6 months): $268,250 ( $267k, $267k, $268k, $268k) *$230k
Average Days on Market Single Family Home: 116 (115, 91, 109, 112) *82
Active Condos: 482 (480, 491, 486, 488) *450
Average Condo Listing Price: $243,440 ($257k, $216k, $180, $170k) *$222k
Average Condo Selling Price: $231,190 ($246k, $205k, $170k, $164k) *$213k
Condo Sale to List Ratio This Week: 95% (96%, 95%, 94%, 96%) 94%
Median Condo List Price (6 months): $234,900 ($235k, $237k, $239k, $240k) *228k
Median Condo Sold Price (6 months): $225,000 ($225k, $228k, $231k, $235k) *213k
Average Days on Market Condos: 160 (96, 110, 68, 31, 177) *77
Active Vacant Lots: 1,128 (1,129, 1,158, 1,156, 1,157) *1,073
Although the stats are reflective of annual trend and the decline of activity and inventory, the day to day market foot traffic is alive and kicking. September hit and things began to taper off rapidly, and this trend carried into September. Not saying that we will see the return of Spring and Summer stats here, but activity is definitely starting to ramp back up again. Maybe there was a slight hiccup as buyers waited to see how the new mortgage rules would affect their pre-approval, or market. In any case, some of the scepticism has passed, and maybe some reassurance by lenders has spooled things back up. Inventory continues its decent into the winter, and it still looks much better compared to the last few years. There has been a lot of "hubbub" surrounding the American presidential election and it's impact on Canadian immigration and the potential, tongue in cheek, border jump to a Trump free Canada. The first impact may have been the crash of the actual immigration website on election night, but others are speculating that the impact could be much greater. It will be interesting to see how severe the fallout from the election will affect our market here in Halifax, but we will have to wait and see. Stay tuned to keep an eye on any changes!
Name: Angelique found abandoned in Quebec
age: 3 yrs old
Breed: Boston terrier/am staff mix
Likes: Being softly and very lovingly spoken to , loves cuddles, watching netflix on the sofa, walks ( watch out for obstacles) , calm home with a predictable routine
special need: visual impairment
No prey drive, learning clicker training and very food motivated. Crate trained, Not Vocal so quiet.
Dogs okay if introduced one on one and are not up in her face to frighten her.
Afraid: shouting, sudden loud noises.
Would make the perfect companion dog
This "cuddly companion" is available through Good Bones Dog Rescue, 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
Tomorrow is Remembrance Day across Canada, and I would encourage every Canadian to get out and attend one of the many ceremonies across the city, which can be found HERE. Still not sure where to go and when to be there? Simply head to your closest Canadian Legion by 10:30am on the 11th to take in the day.
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!
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.
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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