Halifax (HRM) Residential Market Statistic Update for the Week of June 16th - June 23rd 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New Listings: 403 (356, 397, 382, 355) *351 Sold: 165 (168, 171, 171, 148) *165 Sale To Listing Ratio: 41% (47%, 43%, 45%, 42%) *47% Price Changes: 287 (302, 329, 333, 245) *349 Listings that went conditional/pending: 170 (172, 203, 208, 184) *178 Expired/Cancelled/Withdrawn: 161 (114, 148, 231, 125) *90 Total Active Halifax/Dartmouth Inventory: 5,518 (5,455, 5,377, 5,319, 5,621) *5,798 Absorption Rate in weeks: 33 (33, 33, 33, 35) *33 Single Family Home Stats Active Single Family Home: 3,652 (3,653, 3,605, 3,576, 3,571) *4,263 Average Single Family Home List Price: $296,328 ($311k, $307k, $297k, $295k) *$305k Average Single Family Home Selling Price: $286,786 ($302k, $299k, $288k, $287k) *$291k Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 97%) *96% Median Single Family Home List Price: $259,900 ($279k, $285k, $276k, $280k) *$265k Median Single Family Home Sold Price: $252,000 ($272k, $277k, $272k, $278k) *$258k Average Days on Market Single Family Home: 73 (78, 80, 81, 95) *107 Condo Stats Active Condos: 504 (494, 486, 478, 474) *577 Average Condo Listing Price: $234,556 ($224k, $232k, $225k, $295k) *$249k Average Condo Selling Price: $226,007 ($216k, $224k, $218k, $282k) *$239k Condo Sale to List Ratio This Week: 96% (97%, 96%, 97%, 95%) *96% Median Condo List Price: $217,900 ($210k, $232k, $200k, $282k) *235k Median Condo Sold Price: $205,162 ($204k, $220k, $188k, $276k) *227k Average Days on Market Condos: 176 (85, 75, 42, 133) *103 Active Vacant Lots: 1,094 (1,043, 1,030, 1,023, 1,027) *1,005 MARKET RANT Activity remains steady this week as we tip into the first week of Summer. Not a huge bump in the overall inventory level for the time of year, but the new weekly additions reported higher than average (cresting above the 400 mark for the first time in a while) puffing up the stats for the week. Sales remain average, as does the majority of the other statistics, which may indicate the approach to the peak of the market year. Values across the board are holding fast but still reporting lower on average than the previous year, which makes me wonder if the long overdue price correction that was so sorely needed has actually taken effect. It could also be the price point of the homes that are selling dragging the average selling price down, and overall, it is still the first time Buyers range that is seeing the brunt of market activity. It seems there is definitely a shortage of affordable detached homes of good quality, and when they do show up they get snapped up quite quickly. Being so active in the field I have noticed that there are a lot of products that desperately need work or attention, but there seems to be a stand off between Buyer and Seller regarding who is to address the work. In any case, price is the overall driving factor and if the price is right, Buyers seem to take to getting things done. Interesting to see if that product remains dominant, but historically it has and my guess its that it will continue to do so. Thanks for stopping by! WEEKLY ADOPTABLE Do not let this little lady be missed! Come on out to our shelter and spend some cuddle time with this adorable bully breed. Co-co is a darling Amstaff mix who is looking to find a home with someone able to help her loose some of her added weight, for her health. She would be best suited to be in a home with children 14 years of age or older. Due to the musical Amstaff sounds that Co-co likes to sing to staff we feel that she would be best in a single dwelling home (no apartments/condos please). 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. 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! VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process. Newest Blog post HERE Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. ListingsPhoto's by Jeremiah
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