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 March 29th - April 5th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 378 (280, 295, 70, 365) *416
Sold: 121 (125, 114, 134, 135) *141
Sale To Listing Ratio: 32% (45%, 39%, 50%, 37%) *34%
Price Changes: 143 (119, 137, 102, 127) *166
Listings that went conditional/pending: 163 (154, 142, 134, 169) *176
Expired/Cancelled/Withdrawn: 179 (66, 67, 81, 172) *230
Total Active Halifax/Dartmouth Inventory: 3,904 (3,864, 3,901, 3,722, 3,686) +4,596
Absorption Rate in weeks: 32 (30, 30, 30, 32) *38
Single Family Home Stats
Active Single Family Home: 2,211 (2,143, 2,103, 2,047, 2,010) *2,733
Average Single Family Home List Price: $342,231 ($326k,$325k,$301k,$349k) *$297k
Average Single Family Home Selling Price: $333,092 ($315k,$314k,$291k,$336k) *$287k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%,97%, 97%) *97%
Median Single Family Home List Price (6 mo): $279,900 ($279k,$278k,$276k,$279k)*$275k
Median Single Family Home Sold Price (6 mo):$271,500 ($270k,$270k,$270k,$270k)*$266k
Average Days on Market Single Family Home: 82 (88, 69, 88, 93) *115
Active Condos: 370 (375, 367, 368, 370) *466
Average Condo Listing Price: $289,673 ($232k, $252k, $242k, $277k) *$224k
Average Condo Selling Price: $280,457 ($225k, $242k, $232k, $266k) *$215k
Condo Sale to List Ratio This Week: 97% (97%, 96%, 96%, 96%) 96%
Median Condo List Price (6 mo): $238,900 ($238k, $239k, $239k, $239k) *$220k
Median Condo Sold Price (6 mo): $231,750 ($232k, $234k, $234k, $233k) *$215k
Average Days on Market Condos: 167 (82, 127, 97, 80) *70
Active Vacant Lots: 979 (1,008, 1,003, 986, 980) *1,154
Not sure if this last cold snap is keeping Buyers at bay, but things have certainly taken a bit of a break over the last couple of weeks. Activity, it seems, is down across the board. Not only compared to last year at this time, but even the slower months of this year. Listings are starting their march to market, but there seems to be less active buyers over the last couple of weeks. Of course, we have had some pretty poor weather, but it feels like there is something else at foot causing this lull. Inventory remains lower than last year this time, but the slow market blues has caused a very quick addition of two weeks to the absorption rate. Hopefully this is just the continuation of the calm before the storm, if not, it will certainly be interesting to see what develops over the next few weeks. Stay tuned to the blog to stay informed! Thanks for stopping by!
The Weekly Adogtable!
Always happy, outgoing, affectionate, loves everyone even strangers, relaxed and excited with all physical contact when crated: does not bark, excited greeting (loves everyone) Eats fast great with other dogs: submissive, polite and playful cats unknown playful in presence of toys. Ika is polite on leash knows commands: sit, paw, stay We need to vaccinate , neuter and microchip him. Would make a good family dog.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him 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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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