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 August 11th - August 18th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 306 (316, 305, 294, 319) *282
Sold: 142 (148, 123, 156, 138) *104
Sale To Listing Ratio: 46% (47%, 40%, 53%, 43%) *37%
Price Changes: 200 (259, 201, 247, 289) *291
Listings that went conditional/pending: 167 (164, 145, 179, 167) *153
Expired/Cancelled/Withdrawn: 154 (115, 284, 118, 119) *129
Total Active Halifax/Dartmouth Inventory: 5,411 (5,421, 5,389, 5,519, 5,528) *6,006
Absorption Rate in weeks: 38 (38, 39, 39, 39) *48
Single Family Home Stats
Active Single Family Home: 3,556 (3,570, 3,564, 3,637, 3,670) *4,085
Average Single Family Home List Price: $277,718 ($275k, $305k, $335k, $320k) *$306k
Average Single Family Home Selling Price: $264,996 ($262k, $319k, $291k) *$296k
Single Family Home Sale to List Ratio This Week: 95% (95%, 96%, 95%, 96%) *97%
Median Single Family Home List Price: $252,450 ($240k, $285k, $280k, $275k) *$265k
Median Single Family Home Sold Price: $243,250 ($230k, $274k, $275k, $265k) *$263k
Average Days on Market Single Family Home: 102 (90, 98, 86, 96) *104
Active Condos: 502 (507, 493, 504, 495, 483) *516
Average Condo Listing Price: $207,250 ($242k, $241k, $235k, $273k) *$234k
Average Condo Selling Price: $198,888 ($234k, $232k, $227k, $264k) *$224k
Condo Sale to List Ratio This Week: 96% (97%, 97%, 97%, 97%) *96%
Median Condo List Price: $184,400 ($210k, $227k, $229k, $230k) *228k
Median Condo Sold Price: $179,750 ($205k, $222k, $225k, $225k) *219k
Average Days on Market Condos: 61 (65, 94, 86, 46) *77
Active Vacant Lots: 1,088 (1,072, 1,060, 1,096, 1,084) *1,088
Lazy Summer days seem to be taking ahold of the market this week, which is a typical trend for this time of year. Of note, buyer activity, which is reporting higher than last year at this time, and sales are trending much higher week over week then last year at this time as well continuing the solid sales to list ratio report. Price changes are reporting fewer this week than last year, but I would think that the lower inventory and more competitive pricing has something to do with that. Absorption rate held fast this week, and sales values reported lower than normal again, begging the question of if we are in the middle of a pricing correction here in Halifax, or if there has simply been more movement in the first time homebuyers and lower priced products categories. Things may be tapering off for the Summer, and I would anticipate that to carry into the first couple of weeks of September, buy it appears that buyers are carrying the momentum forward. Anxious to see how the fall report will turn out, as this year has definitely taken a few steps forward on the road to recovery so far. Ultimately, time will tell the full impact of the annual report. Thanks for stopping by!
Oden is a high-energy amstaff that is searching for his new home! Oden is only approximately 10-months-old, and seems to be good with dogs, cats, and kids - he is jumpy and excitable so the parents would need to be okay with this. Oden has energy for DAYS and would love a very active home so he can develop into a strong, healthy adult. Oden doesn't have many manners yet, so obedience training is a MUST upon adoption. Oden also has some separation anxiety, so we're looking for a family that isn't gone for extended periods of time. If you are unable to be home for several hours a day, you will need to make sure he is comfortable at home and/or take the steps necessary to make him less reactive when left alone. If you're looking for a young pup to train and love, pop by and take Oden for a run 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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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