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 March 2nd - March 9th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 370 (289, 212, 178, 290) 345
Sold: 89 (97, 103, 79, 91) *100
Sale To Listing Ratio: 24% (34%, 49%, 44%, 31%) *29%
Price Changes: 137 (142, 86, 94, 137) *140
Listings that went conditional/pending: 105 (132, 114, 103, 131) *141
Expired/Cancelled/Withdrawn: 97 (199, 69, 73, 89) *73
Total Active Halifax/Dartmouth Inventory: 4,367 (4,221, 4,250, 4,217, 4,221) *4,466
Absorption Rate in weeks: 48 (46, 48, 48, 48) *44
Single Family Home Stats
Active Single Family Home: 2,555 (2,488, 2,476, 2,472, 2,467) *2,914
Average Single Family Home List Price: $325,392 ($331k, $306k, $298k, $321k) *$283k
Average Single Family Home Selling Price: $315,771 ($320k, $296k, $290k, $311k) *$274k
Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 97%, 97%) *97%
Median Single Family Home List Price (6 months): $278,944 ($279k, $279k, $280k, $279k) *$245k
Median Single Family Home Sold Price (6 months): $267,500 ($269k, $268k, $268k, $267k) *$235k
Average Days on Market Single Family Home: 119 (95, 101, 75, 113) *93
Active Condos: 440 (414, 416, 409, 408, 398) *416
Average Condo Listing Price: $321,266 ($271k, $233k, $210k, $208k) *$256k
Average Condo Selling Price: $303,416 ($269k, $228k, $203k, $198k) *$247k
Condo Sale to List Ratio This Week: 94% (99%, 98%, 97%, 95%) 96%
Median Condo List Price (6 months): $229,450 ($225k, $230k, $230k, $230k) *250k
Median Condo Sold Price (6 months): $220,000 ($220k, $220k, $221k, $222k) *238k
Average Days on Market Condos: 85 (113, 141, 182, 178, 219) *109
Active Vacant Lots: 1,138 (1,098, 1,122, 1,098, 1,102) *922
Looks like Sellers have finally emerged from the icy grip of this years erratic Winter, and have begun to list! All areas of the market increased in volume this week, with single family home products making the most significant contribution. Buyer activity slowed down a touch from last week, and reported much lower than last year at this time. The seemingly endless Winter might have caused a bit of a delay in overall activity, especially from last year which had a very mild one, but lack of new product choices may have also contributed slower Buyer action. It is still very early in the year however, and things tend to ramp up over the coming weeks. This Spring might be like that of 2015, when market development happened late Spring due to the harsh and unrelenting Winter. I have no doubts that inventory is on the climb, it will be interesting to see just what heights we hit this year. Stay tuned to find out! Thanks for stopping by!
Meet new Good Bones Dog Luna! She loves other dogs. Likes cats but places too rough for them. Likes kids but due to her enthusiasm and love to lick, kids should be 6 years or older.
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
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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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah