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 October 12th - October 19th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 227 (233, 315, 267, 272) *299
Sold: 126 (131, 124, 148, 143) *111
Sale To Listing Ratio: 56% (56%, 40%, 55%, 53%) *37%
Price Changes: 196 (166, 190, 219, 218) *222
Listings that went conditional/pending: 158 (109, 162, 149, 165) *155
Expired/Cancelled/Withdrawn: 133 (117, 301, 111, 130) *171
Total Active Halifax/Dartmouth Inventory: 4,450 (4,519, 4,500, 4,613, 4,602) 5,099
Absorption Rate in weeks: 34 (33, 32, 33, 33) *40
Single Family Home Stats
Active Single Family Home: 2,693 (2,753, 2,750, 2,837, 2,833) *3,158
Average Single Family Home List Price: $281,998 ($354k.$289k,$299k,$298k) *$293k
Average Single Family Home Selling Price: $272,552 ($336k, $277k,$289k,$290k) *$283k
Single Family Home Sale to List Ratio This Week: 97% (95%, 96%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $274,900 ($275k,$275k,$279k,$279k)*$275k
Median Single Family Home Sold Price (6 mo): $267,500 ($270k,$270k,%270k,$270k)*$268k
Average Days on Market Single Family Home: 73 (78, 94, 70, 69) *109
Active Condos: 401 (413, 407, 416, 413) *486
Average Condo Listing Price: $235,125 ($263k, $294k, $264k, $244k) *$180k
Average Condo Selling Price: $223,237 ($253k, $281k, $255k, $231k) *$170k
Condo Sale to List Ratio This Week: 95% (96%, 96%, 97%, 95%) 94%
Median Condo List Price (6 mo): $244,900 ($245k, $245k, $245k, $240k) *$239k
Median Condo Sold Price (6 mo): $235,000 ($236k, $236k, $235k, $230k) *$231k
Average Days on Market Condos: 118 (121, 115, 146, 82) *68
Active Vacant Lots: 1,103 (1,111, 1,106, 1,123, 1,126) *1,156
Back to the Fall grind this week, as stats continue their seasonal trend reporting. A lower than average (for this year) new listing report this week, which was met with slightly lower sales average as well. Things are looking up however, as it appears Buyer activity has returned in full force with a solid conditional sale report this week, matching this years average and returning to its former position. It was matched by last year at this time, but there was also many more products to choose from last year. Coupled with a Buyers void, there is no doubt that there were many negative influences at that time. This year, we have been fortunate to enjoy a rebounding market and the changes that go along with it. One thing that has become obvious with the moving inventory, is the adjustment of listing prices. I mentioned a few years ago that a price correction could turn the tide of the, at the time, down market. This adjustment seems to have happened in part, which has also been noticed by many clients and speculators that I have talked with about the market, noting the overall lower listing and sale prices, further illustrating that "everything sells at the right price". Interesting times indeed, and I would encourage you to check in when you can, or reach out if you have a burning question. Thanks for stopping by!
The Weekly Adogtable!
Meet Loly. She weighs +/- 45 lbs
Shy when crated. Is outgoing and sweet. Has been examined all over by vet and was good. Relaxed except for touching er udders (will freeze and sometimes growl. I am suspecting a body infection so we will get her sorted asap! Excited around other dogs (tested through a fence and she was actually living with another dog). Excited with cats.
special needs: Deaf. Housebroken
Knows commands sit lie down, obedient . Loves to be caressed and loved , very relaxed to touching all over Temperment: affectionate and friendly. Good with all dogs (lives with shihtzu). Good with cats
No aggression. Does not have any food or toy resource guarding.
Not destructive. Has never injured another animal.
Knows basic commands. Pulls on leash and strong like most staffies so we have a freedom harness we will try on her. Looks like she had a litter. She will be vaccinated then spay and microchipped before adoption.
This "cuddly companion" is available through Good Bones Dog Rescue, 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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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