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 October 5th - October 12th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats​

Total Market
New/Back to Market Listings: 233  (315, 267, 272, 322) *223
Sold:  131  (124, 148, 143, 156) *125
Sale To Listing Ratio: 56% (40%, 55%, 53%, 48%) *56%
Price Changes: 166 (190, 219, 218, 222) *187
Listings that went conditional/pending: 109 (162, 149, 165, 180)  *119
Expired/Cancelled/Withdrawn:  117 (301, 111, 130, 121) *199
Total Active Halifax/Dartmouth Inventory:  4,519  (4,500, 4,613, 4,602, 4,637) *5,133
Absorption Rate in weeks:  33 (32, 33, 33, 33)  *38

Single Family Home Stats
Active Single Family Home: 2,753 (2,750, 2,837, 2,833, 2,874) *3,210
Average Single Family Home List Price:  $354,286 ($289k,$299k,$298k,$284k) *$287k
Average Single Family Home Selling Price:  $335,601 ($277k,$289k,$290k,$276k)  *$278k
Single Family Home Sale to List Ratio This Week: 95%  (96%, 97%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $275,000 ($275k,$279k,$279k,$279k)*$275k
​Median Single Family Home Sold Price (6 mo): $269,950 ($270k,%270k,$270k,$270k)*$270k
Average Days on Market Single Family Home: 78 (94, 70, 69, 78) *112

Condo Stats
Active Condos:  413  (407, 416, 413, 412) *488
Average Condo Listing Price:  $263,000 ($294k, $264k, $244k, $220k) *$170k
Average Condo Selling Price: $253,164 ($281k, $255k, $231k, $209k) *$163k
Condo Sale to List Ratio This Week: 96% (96%, 97%, 95%, 95%)  96%
Median Condo List Price (6 mo): $244,900 ($245k, $245k, $240k, $240k) *$240k
Median Condo Sold Price (6 mo): $235,500 ($236k, $235k, $230k, $230k) *$235k
Average Days on Market Condos: 121 (115, 146, 82, 117) *31

Active Vacant Lots: 1,111  (1,106, 1,123, 1,126, 1,133) *1,157

Market Rant 
Thanksgiving weekend can be grouped in with other holidays that affect weekly reporting, such as Christmas and Remembrance Day (which is approaching). These holidays tend to sway some of the stats from a typical weekly report, given that a good number of buyers and sellers are otherwise preoccupied. I thought I would take this week to talk about the statistic labels, and where along the line they switch.

As you probably already know, when you see a listing online (viewpoint.ca), or in another form of advertising, you are viewing an "active" listing. Once that active listing (Seller(s) receives and accepts an offer, then that status should change to "conditional/pending" within days of acceptance. Since the accepted offer has conditions that will need to be met during an outline laid out in said agreement, it is considered conditional. These conditions range from financing approval, to inspections, lawyer review of the documents and many more. Generally, this is a process that will last a couple weeks, which is the reason the property you are tracking might have this status for a little while. Once the conditions have all been met after the agreed time (say two weeks), the status will then change to "sold", even though the buyer(s) are unlikely to have possession of the property at this point. That is reserved for closing day, which can be quite varied based on buyer and seller situations, but typically ranges 30-90 days from the offer date. Once closing date comes and goes, all labels are removed until the next time the property is listed and returns to an "active" status. Of course, the history is still available and visible on websites such as viewpoint.ca, which is a great tool! The status changes are good to know, especially if you are tracking property and when pondering the above stats. Hope that helps clear some things up for the curious, and I thank you for stopping by!

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Meet Bosely!

The Weekly Adogtable!

He is energetic. Has no resource guarding isues at all. A very happy boy, social and friendly with humans (does jump up). He is k with dogs but needs to be cat tested. No kids under 8 because he jumps up. Can be vocal when excited playing.
Underweight. Knows basic commands​

​This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about her and other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE

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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
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