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 June 8th - June 15th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 343 (449, 387, 416, 400) *356
Sold: 200 (197, 180, 178, 213) *168
Sale To Listing Ratio: 58% (44%, 47%, 43%, 53%) *47%
Price Changes: 228 (251, 248, 191, 209) *302
Listings that went conditional/pending: 245 (227, 248, 213, 203) *172
Expired/Cancelled/Withdrawn: 132 (194, 218, 64, 99) *114
Total Active Halifax/Dartmouth Inventory: 4,909 (4,944, 4,862, 4,947, 4,860) *5,455
Absorption Rate in weeks: 26 (26, 25, 26, 26) *33
Single Family Home Stats
Active Single Family Home: 3,024 (3,047, 2,987, 3,026, 2,971) *3,653
Average Single Family Home List Price: $291,833 ($298k, $326k, $324k, $339k) *$311k
Average Single Family Home Selling Price: $283,514 ($283, $317k, $315k, $329k) *$302k
Single Family Home Sale to List Ratio This Week: 97% (95%, 97%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $279,900 ($279k,$279k,$279k,$275k)*$279k
Median Single Family Home Sold Price (6 mo): $270,000 ($270k,$270k,$270k,$269k)*$272k
Average Days on Market Single Family Home: 75 (80, 60, 70, 65) *78
Active Condos: 482 (487, 481, 505, 504) *494
Average Condo Listing Price: $284,905 ($251k, $280k, $261k, $252k) *$224k
Average Condo Selling Price: $276,155 ($244k, $281k, $249k, $243k) *$216k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 96%, 96%) 97%
Median Condo List Price (6 mo): $229,900 ($230k, $230k, $230k, $228k) *$210k
Median Condo Sold Price (6 mo): $220,000 ($218k, $220k, $220k, $216k) *$204k
Average Days on Market Condos: 84 (95, 150, 151, 98, 52) *85
Active Vacant Lots: 1,153 (1,160, 1,145, 1,158, 1,128) *1,043
What a week! Temperatures are on the rise, and so is buyer activity in this weeks market rant. With the 200 sales that occurred this week, the sales to list ratio shot up to a season high 58%, which was helped along somewhat by the trailing seller dynamic, who seem to be somewhat absent. The buyer activity is holding, and this week spiked to another solid week of 245 accepted offers, putting last years showing to shame. Because of the surging market, inventory across the board has dropped, widening the gap between the previous years marker. There was a changing of the guard as well, where condo's had been reporting higher inventory levels for the last several months, but the interesting turn of events of 2017 has seen the flip of that report. The only thing currently holding out is vacant land, and that gap is closing too! Certainly, it has to be a welcomed market for sellers, but for buyers, there is definitely price points and areas that are a challenge. The first time home buyers bracket, which is usually the most active, has definitely been a challenge to a lot of buyers. And this current season has brought around mythical happenings, like the increasingly popular "multiple offer", and "over asking offer"., causing increased frustration Markets change, and so too must the players. Stay tuned to keep track of the changes, and the market environment, and thanks for stopping by!
This is the good kind of Havoc in your home!
Meet lovable GoodBones Dog Havoc. He is 3 years old and will need to be neutered before vaccinations and adoption. He is cat, dog, baby and kid friendly and has a gentile temperement.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, 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 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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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