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Halifax (HRM) Residential Market Statistic Update for the Week of October 6th - 13th, 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New Listings: 223 (321, 278, 378, 273) *265 Sold: 125 (139, 141, 135, 132) *87 Sale To Listing Ratio: 56% (43%, 51%, 36%, 48%) *33% Price Changes: 187 (226, 229, 215, 250) *215 Listings that went conditional/pending: 119 (139, 144, 158, 117) *113 Expired/Cancelled/Withdrawn: 119 (420, 130, 133, 286) *161 Total Active Halifax/Dartmouth Inventory: 5,133 (5,161, 5,368, 5,378, 5,296) *5,693 Absorption Rate in weeks: 38 (37, 44, 45, 42) *49 Single Family Home Stats Active Single Family Home: 3,210 (3,267, 3,433, 3,449, 3,430) *3,822 Average Single Family Home List Price: $287,019 ($336k, $344k, $297k, $306k) *$255k Average Single Family Home Selling Price: $278,220 ($323k, $323k, $285k) *$242k Single Family Home Sale to List Ratio This Week: 97% (96%, 94%, 96%, 97%) *95% Median Single Family Home List Price (6 months): $274,900 ($287k, $282k, $266k, $279k) *$245k Median Single Family Home Sold Price (6 months): $268,000 ($270k, $267k, $255k, $270k) *$228k Average Days on Market Single Family Home: 112 (87, 96, 103, 98) *113 Condo Stats Active Condos: 488 (471, 477, 476, 478) *475 Average Condo Listing Price: $169,600 ($308k, $315k, $274k, $309k) *$253k Average Condo Selling Price: $163,483 ($299k, $311k, $263k, $299k) *$230k Condo Sale to List Ratio This Week: 96% (97%, 98%, 97%, 97%) *91% Median Condo List Price (6 months): $239,900 ($320k, $305k, $222k, $312k) *240k Median Condo Sold Price (6 months): $234,900 ($308k, $303k, $215k, $310k) *226k Average Days on Market Condos: 31 (177, 81, 121, 66) *101 Active Vacant Lots: 1,157 (1,145, 1,167, 1,168, 1,112) *1,108 Market Rant A very mixed week this week. I'm assuming we will see the current activity reflected over the next couple of weeks, but it appears that some buyers are coming of the fence and trying to get into a property before the new mortgage rules take effect. Good information HERE for those thinking that they may feel the brunt of the changes, which most predict will be the first time home buyer market. Not a whole lot of new additions this week, but sales remained average for the week causing an above average sales to list ratio report. As mentioned, although buyer activity seems average as reported, the streets are buzzing with busy buyers looking to get into their home before the white stuff fly's. Overall, product value reported lower than the yearly average, but this does seem to be a trend for this time of year. The absorption rate gained a week this week, but we are well below the peak amounts reported last year. Overall, it's been a solid year thus far in our market. Although sale prices have lowered, products are moving and inventory is down. I predicted that a price correction could be a key recovery factor, but there are far too many other elements that make a market, which complicates any guaranteed projections. Just have to watch the ebb and flow, which can be done right here! Thanks for stopping by!  Allister is in need of a good home! WEEKLY ADOPTABLE Alister is a very rambunctious pup! He is looking for a dog experienced owner who can give him the attention and guidance he needs to grow up into a great dog! Due to his high energy levels he is also going to be best suited for an adults only home. In order for this guy to learn his manners he will also need to be registered for mandatory puppy obedience classes prior to adoption. 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!  The Viewpoint Realty Interactive Property Map 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.. 
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