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 1st - 8th, 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 252 (306, 228, 306, 316) *302
Sold: 85 (132, 153, 142, 148) *109
Sale To Listing Ratio: 34% (43%, 67%, 46%, 47%) *36%
Price Changes: 167 (210, 215, 200, 259) *268
Listings that went conditional/pending: 124 (147, 148, 167, 164) *128
Expired/Cancelled/Withdrawn: 286 (302, 115, 154, 115) *137
Total Active Halifax/Dartmouth Inventory: 5,233 (5,260, 5,377, 5,412, 5,421) *5,857
Absorption Rate in weeks: 41 (37, 38, 38, 38) *45
Single Family Home Stats
Active Single Family Home: 3,388 (3,426, 3,531, 3,556, 3,570) *3,958
Average Single Family Home List Price: $331,992 ($283k, $316k, $278k, $275k) *$297k
Average Single Family Home Selling Price: $320,326 ($273k, $302k, $265k) *$285k
Single Family Home Sale to List Ratio This Week: 96% (96%, 96%, 95%, 95%) *96%
Median Single Family Home List Price: $289,900 ($260k, $265k, $253k, $240k) *$260k
Median Single Family Home Sold Price: $282,500 ($245k, $260k, $243k, $230k) *$250k
Average Days on Market Single Family Home: 97 (94, 101, 102, 90) *101
Active Condos: 477 (479, 490, 502, 507) *501
Average Condo Listing Price: $216,566 ($267k, $340k, $207k, $242k) *$241k
Average Condo Selling Price: $210,488 ($257k, $330k, $199k, $234k) *$233k
Condo Sale to List Ratio This Week: 97% (96%, 97%, 96%, 97%) *97%
Median Condo List Price: $199,900 ($250k, $260k, $184k, $210k) *225k
Median Condo Sold Price: $180,000 ($244k, $251k, $180k, $205k) *215k
Average Days on Market Condos: 116 (77, 96, 61, 65) *97
Active Vacant Lots: 1,098 (1,090, 1,087, 1,088, 1,072) *1,086
Bit of a mixed market this week. Activity has definitely slowed down as we enter the Fall market, but there's still some signs of life left. Both new listings and weekly sales fell short this week and buyer activity reported down as well, falling well below the 200's averagely reported over the Summer months. The change in activity has also caused a small spike in the absorption rate, which could be caused by the inventory levels not dropping as quickly as the activity. All in all it was a great Summer. Nice weather and a busy market. As projected, the impact of the first half of the year was felt across all products, with a healthy return to some aspects of the market that had sorely been missed, sales being one of them. The lower week to week listing additions have been a strange occurrence, and buyers were met with a change in the market that they may not have been expecting, the lack of variety. Still, there is lots to chose from, and it might just be making some buyers compromise on some aspects of their purchase. In any case, it's good to see products moving, and at a rate that's encouraging. Looking forward to the Fall market and all the unknowns it brings! Be sure to stay tuned to stay on top of it all! Thanks for stopping by!
Strider is striking, young amstaff and is hoping to find a new furever home. Strider came in with his friend Autumn and we do believe they've been together for a while - but neither of them seem to be comfortable with other dogs. Ideally his new home with have no other doggies (unless it's Autumn) or cats, but he would do very well with children as he's quite calm. This handsome boy is pretty high stress, so his new family will have to test out various ways to relieve him of his anxieties. Whether it be lots of daily exercise, mental stimulation or some sort of doggy sport. Strider would be so happy to work for his treats and return will give you lots of love and affection. If you're interested in meeting Strider, come on by today!
This "cuddly companion" is available through Homeward Bound City Pound, 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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The Viewpoint Realty Interactive Property Map
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
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