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 September 7th - September 14th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 322 (275, 242, 298, 284) *273
Sold: 156 (117, 137, 151, 154) *132
Sale To Listing Ratio: 48% (43%, 57%, 51%, 54%) *48%
Price Changes: 222 (188, 181, 189, 229) *250
Listings that went conditional/pending: 180 (152, 159, 149, 184) *117
Expired/Cancelled/Withdrawn: 121 (324, 120, 94, 131) *286
Total Active Halifax/Dartmouth Inventory: 4,637 (4,615, 4,644, 4,817, 4,778) *5,296
Absorption Rate in weeks: 33 (33, 32, 33, 32) *42
Single Family Home Stats
Active Single Family Home: 2,874 (2,861, 2,872, 2,974, 2,956) *3,430
Average Single Family Home List Price: $283,933 ($290k,$302k,$268k,$282k) *$306k
Average Single Family Home Selling Price: $276,120 ($278k,$292k,$259k,$278k) *$296k
Single Family Home Sale to List Ratio This Week: 97% (96%,97%, 97%, 95%) *97%
Median Single Family Home List Price (6 mo): $279,000 ($279k,$279k,$279k,$280k)*$279k
Median Single Family Home Sold Price (6 mo): $270,000 ($270k,$271k,$270k,$271k)*$270k
Average Days on Market Single Family Home: 78 (86, 72, 75, 82) *98
Active Condos: 412 (408, 419, 420, 423) *478
Average Condo Listing Price: $220,164 ($241k, $246k, $259k, $266k) *$309k
Average Condo Selling Price: $209,000 ($233k, $236k, $250k, $258k) *$299k
Condo Sale to List Ratio This Week: 95% (97%, 96%, 97%, 97%) 97%
Median Condo List Price (6 mo): $239,450 ($240k, $242k, $245k, $242k) *$214k
Median Condo Sold Price (6 mo): $230,000 ($230k, $230k, $232k, $230k) *$209k
Average Days on Market Condos: 117 (74, 88, 101, 82) *66
Active Vacant Lots: 1,133 (1,141, 1,150, 1,196, 1,173) *1,112
So I would guess the lag report of last week has adjusted and caught up! Last week I reported how things seemed a bit "off", that the numbers seemed a little "delayed". Well, it would appear that this week has corrected that anomaly. Oddly, in a year of minimal new weekly listings, a historically mediocre month has attracted sellers to market. I'm sure these listings are a site for sore eyes (Buyers currently on the market), and a welcome addition to the itinerary or viewing schedule. Some residual sales from last week may have caught up this week strengthening the sales report, but the star of the week goes to the listings that went conditional/pending (received and accepted offers) with a whopping 180 offers accepted. It's no small feat to report 180 agreements in a week, especially during this time of year given the dwindling inventory and lack of selection. Just last year there was over 60 less agreements, which is huge in one week. It will be interesting to see what contribution these sales are providing to the overall inventory count. Usually, the reduction of inventory is largely in part to expired/cancelled listings, but those two stats seems to have switched reports. Slight increase in the overall inventory this week as well, which is unusual, but unlikely to trend. I noticed that trees around the city are starting to change colour, and I reflected on just how quickly the Summer, and the Summer market, has passed. Autumn should prove to be an interesting season as well, and I hope you stop by to get the latest by checking into the blog. Thanks for stopping by!
The Weekly Adogtable!
Stark, possibly a descendant of Ironman, is a handsome well-mannered pup in search of his new home. He walks great on a Halti, loves to play, and is friendly with other dogs. His adoption requirements are as follows:
A home free of cats and with children over the age of 12.
A home with another dog is suitable - any other dogs would have to meet prior to adopting.
This "cuddly companion" is available through Homeward Bound City Pound, 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
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 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..