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 September 15th - 22nd, 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 378 (273, 252, 306, 228) *326
Sold: 135 (132, 85, 132, 153) *128
Sale To Listing Ratio: 36% (48%, 34%, 43%, 67%) *39%
Price Changes: 215 (250, 167, 210, 215) *289
Listings that went conditional/pending: 158 (117, 124, 147, 148) *140
Expired/Cancelled/Withdrawn: 133 (286, 286, 302, 115) *172
Total Active Halifax/Dartmouth Inventory: 5,378 (5,296, 5,233, 5,260, 5,377) *5,841
Absorption Rate in weeks: 45 (42, 41, 37, 38) *48
Single Family Home Stats
Active Single Family Home: 3,449 (3,430, 3,388, 3,426, 3,531) *3,935
Average Single Family Home List Price: $296,621 ($306k, $332k, $283k, $316k) *$267k
Average Single Family Home Selling Price: $284,802 ($296k, $320k, $273k) *$256k
Single Family Home Sale to List Ratio This Week: 96% (97%, 96%, 96%, 96%) *96%
Median Single Family Home List Price: $266,000 ($279k, $290k, $260k, $265k) *$259k
Median Single Family Home Sold Price: $254,900 ($270k, $283k, $245k, $260k) *$252k
Average Days on Market Single Family Home: 103 (98, 97, 94, 101) *82
Active Condos: 476 (478, 477, 479, 490) *497
Average Condo Listing Price: $274,195 ($309k, $217k, $267k, $340k) *$360k
Average Condo Selling Price: $263,434 ($299k, $211k, $257k, $330k) *$349k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 96%, 97%) *97%
Median Condo List Price: $222,400 ($312k, $200k, $250k, $260k,) *236k
Median Condo Sold Price: $215,000 ($310k, $180k, $244k, $251k) *226k
Average Days on Market Condos: 121 (66, 116, 77, 96) *145
Active Vacant Lots: 1,168 (1,112, 1,098, 1,090, 1,087) *1,087
So i guess with the kids all tucked away into their respective grade levels, focus starts back on the real estate market? In an unusual turn of events, the overall inventory gained a decent amount, which isn't the norm for this time of year. Usually, Autumn carries the trend of decreasing inventory through it's months, then passes the torch to the Winter season, where it bottoms out for the year. Might be just an exchange of extremes as the ebb and flow continues, but seeing such a mix of activity this late in the market year definitely changes it up. Fall, in my opinion, has always been a great time of year to sell. Leftover inventory from the Spring is long gone, and the Summer challengers have excited the area, leaving any new entries a "hot ticket" of interest as Buyers yet to secure their abode stand ready to pounce on any hot deals in their areas of interest. Fall is starting off on an interesting foot, so stay tuned to keep up to date with all the developing details! Thanks for stopping by!
Boo is a lovely female canine who has made her way to us all the way from Cape Breton! This well traveled pup would be best suited to a home with older children (16 yrs and older) who have some dog experience. Boo is a strong dog who would like to find an owner to help teach her how to walk properly on leash.
If you would like to meet her feel free to stop into the shelter anytime during our business hours to take this fancy pup out for a walk.
This "cuddly companion" is available through the Dartmouth SPCA, a non profit rescue organization from Dartmouth, 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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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