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 January 25th to February 1st, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 199 (254, 263, 151, 141) *316
Sold: 123 (97, 78, 55, 112) *85
Sale To Listing Ratio: 62% (38%, 30%, 36%, 79%) *27%
Price Changes: 84 (84, 116, 93, 53) *133
Listings that went conditional/pending: 131 (130, 139, 77, 94) *129
Expired/Cancelled/Withdrawn: 148 (65, 75, 100, 163) *191
Total Active Halifax/Dartmouth Inventory: 3,521 (3,580, 3,534, 3,487, 3,676) +4,172
Absorption Rate in weeks: X ( X, X, X, 32) *51
Single Family Home Stats
Active Single Family Home: 1.891 (1,947, 1,937, 2,053, 1,988) *2,434
Average Single Family Home List Price: $307,972 ($332k,$297k,$355k,$330k) *$282k
Average Single Family Home Selling Price: $297,761 ($321k,$275k,$310k,$317k) *$271k
Single Family Home Sale to List Ratio This Week: 97% (97%, 93%, 87%, 96%) *96%
Median Single Family Home List Price (6 mo): $274,900 ($275k,$275k,$280k,$279k)*$280k
Median Single Family Home Sold Price (6 mo):$267,750 ($269k,$269k,$268k,$270k)*$268k
Average Days on Market Single Family Home: 91 (94, 108, 96, 77) *113
Active Condos: 348 (348, 349, 325, 355) *398
Average Condo Listing Price: $265,962 ($238k, $276k, $266k, $249k) *$354k
Average Condo Selling Price: $262,775 ($231k, $267k, $258k, $240k) *$344k
Condo Sale to List Ratio This Week: 99% (97%, 97%, 97%, 96%) 97%
Median Condo List Price (6 mo): $239,000 ($239k, $240k, $239k, $244k) *$230k
Median Condo Sold Price (6 mo): $234,500 ($234k, $239k, $235k, $249k) *$223k
Average Days on Market Condos: 83 (54, 139, 92, 98) *219
Active Vacant Lots: 954 (954, 918, 904, 961) *1,099
Boom! Just like that, January is in the books. Market reports during the winter see a bit more fluctuation than those of warmer months. This activity can be categorized as the "freeze/thaw" factor; getting out to check out listings or putting your home on the market may seem like a great plan, but mother nature has a different agenda. This is definitely noticed around this time of season, although, we are approaching the end of it (hopefully). During these times, we also get reports of burst activity, where Tuesday sees just a few properties go pending, but the very next day your seeing double digits. Gotta get in when you can! The last couple of weeks witnessed more of a stalled market (likely due to the storms and weather), which may have caused a few of the following anomaly. Inventory shot down this week, which is odd for this time of year, however, it is the first of the month, so many listing contracts might have ended today causing the larger number. It looks like Single Family Homes are the main contributor to that stat, which also saw strong sales and lack of new additions this week. Shaping up to continue the momentum generated in 2017, so stay tuned to the blog to stay on top of the 2018 market! Thanks for stopping by!
The Weekly Adogtable!
Meet BRUNO. He was found as a stray and no one came for him. He needs us to neuter and microchip him. Age: 2 years old or less. Vet will confirm found abandoned and no one came to claim him. Has been vaccinated and on Bordetella Neuter+ microchip soon. Excited disposition and always happy to see people. No resource guarding noticed. Will destroy plush sqeaky toys. Jumps up to greet. Fear reactive to dogs bigger than him.
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
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
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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