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 April 26th - May 3rd, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 376 (350, 338, 382, 280) *485
Sold: 169 (185, 169, 158, 125) *174
Sale To Listing Ratio: 45% (53%, 50%, 41%, 45%) *36%
Price Changes: 204 (202, 166, 119, 119) *228
Listings that went conditional/pending: 189 (246, 184, 217, 154) *230
Expired/Cancelled/Withdrawn: 87 (87, 78, 106, 66) *308
Total Active Halifax/Dartmouth Inventory: 3,989 (4,034, 4,027, 3,958, 3,864) +4,700
Absorption Rate in weeks: 23 (25, 29, 30, 30) *29
Single Family Home Stats
Active Single Family Home: 2,309 (2,311, 2,323, 2,277, 2,132) *2,850
Average Single Family Home List Price: $340,042 ($366k,$356k, $334k,$326k) *$357k
Average Single Family Home Selling Price: $329,787 ($256k,$345k,$321k,$315k) *$344k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 96%, 97%) *97%
Median Single Family Home List Price (6 mo): $284,500 ($283k,$280k,$280k,$279k)*$280k
Median Single Family Home Sold Price (6 mo):$277,500 ($276k,$275k,$272k,$270k)*$273k
Average Days on Market Single Family Home: 64 (71, 59, 67, 88) *86
Active Condos: 379 (384, 378, 371, 375) *500
Average Condo Listing Price: $225,045 ($226k, $235k, $243k, $232k) *$267k
Average Condo Selling Price: $216,627 ($219k, $226k, $236k, $225k) *$257k
Condo Sale to List Ratio This Week: 96% (97%, 96%, 97%, 97%) 96%
Median Condo List Price (6 mo): $234,900 ($237k, $239k, $239k, $238k) *$225k
Median Condo Sold Price (6 mo): $225,000 ($227k, $233k, $232k, 232k) *$216k
Average Days on Market Condos: 54 (59, 77, 108, 82) *70
Active Vacant Lots: 966 (988, 977, 970, 1,008) *1,102
Declining inventory in a Spring market? Little bit backwards in this weeks addition of the market rant! Usually, this time of year brings piles of new listings and additions to the inventory level, but this week saw quite the opposite. Products across the board reduced in numbers, with vacant lots taking the most significant hit. In other news, things are still looking good out there! The average time listings are spending on the market is down, values are holding steady, and the absorption rate continues to rocket to the bottom. Listings that accepted offers this week reported below average for this time of year, which makes this the third week in a row that certain market factors have reported lacklustre. Luckily, the late winter market was hot, and the momentum carried into Spring, so we are still enjoying market impact from that activity. We are bound to have a few questionable weeks, it just comes at a time that is usually exploding with activity. For now, it remains tepid. Stay tuned to see if the market continues to heat up! Thanks for stopping by!
The Weekly Adogtable!
Echo arrived at our shelter back in January at a mere 68lbs! We were blessed to have many homes lined up for this cutie but - as it turns out - we learned that Echo is very particular about her housemates and presented several health concerns that needed to be addressed.
With the right treatment, Echo began to thrive. Her personality blossomed! She begs staff for pets and belly rubs and frequently goes out for walks with volunteers - greeting them with her gentle, playful nature. After months of hard work getting her healthy (+20lbs!!!), it is time to find a family who will love and care for her as much as we do!
Experience with large breed dogs is an asset; however, these are her must-have adoption requirements:
- No other animals in the home
- Children must be over the age of 10
- Companionship throughout the day: max. 4hrs alone
Aside from gobbling 6-8 cups of food per day, owners should be prepared to spend approximately $250/month on medications to keep this gal rolling:
- Digestive Enzymes added to each meal
- Vetmedin pills twice daily
As Echo struggled to gain weight, she was diagnosed with Exocrine Pancreatic Insufficiency (EPI). Her pancreas doesn't produce digestive enzymes so, in order to digest and absorb nutrients, digestive enzymes must be added to each meal.
When laboured breathing was noted at one of her check-ups, a cardiac ultrasound showed this lady suffers from Dilated Cardiomyopathy (DCM). In DCM, parts of the heart become enlarged and weaker at pumping blood throughout the body. Her heart is essentially working at 49% capacity. Vetmedin increases the strength of the heart and dilates blood vessels, allowing more oxygenated blood to leave the heart and reach her tissues.
Please note that Echo's heart condition puts her at greater risk for a Spay procedure. Therefore, she will be adopted intact, with her best interest in mind, and a non-breeding agreement must be signed. Owners should expect and understand she will be going through heat cycles.
Compatible applicants will be interviewed by an HBCP representative. Please note a home visit may be requested. We are quite a small team, so please refrain from calling about this pup. Applications can be submitted at http://citypound.ca/adoption-application/ and will be closed once several great candidates have applied.
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
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