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 January 26th-February 2nd, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats​

Total Market
New Listings: 316  (265, 225, 254, 218) *265
Sold:  85  (96, 82, 66, 65) *101
Sale To Listing Ratio: 27% (36%, 36%, 26%, 30%) *38%
Price Changes: 133 (109, 106, 107, 83) *152
Listings that went conditional/pending: 129 (101, 100, 83, 57)  *117
Expired/Cancelled/Withdrawn:  191 (101, 124, 133, 476) *132
Total Active Halifax/Dartmouth Inventory:  4,172  (4,171, 4,106, 4,105, 4,081) *4,183
Absorption Rate in weeks:  51 (54, 66, 64, 58)  *49

Single Family Home Stats
Active Single Family Home: 2,434  (2,423, 2,388, 2,402, 2,387) *2,703
Average Single Family Home List Price:  $282,364 ($285k, $304k, $319k, $365k) *$274k
Average Single Family Home Selling Price:   $271,380 ($273k, $293k, $306k, $352k)  *$261k
Single Family Home Sale to List Ratio This Week: 96%  (96%, 96%, 96%, 97%) *95%
Median Single Family Home List Price (6 months): $279,900 ($280k, $280k, $280k, $280k) *$250k
​Median Single Family Home Sold Price (6 months): $267,500 ($270k, $270, $270k, $270k) *$240k
Average Days on Market Single Family Home: 113 (92, 117, 101, 111) *131

Condo Stats
Active Condos:  398 (406, 393, 383, 396, 425) *375
Average Condo Listing Price:  $353,950($272k, $220k, $206k, $291k) *$241k
Average Condo Selling Price: $344,550   ($266k, $209k, $198k, $281k) *$233k
Condo Sale to List Ratio This Week: 97% (98%, 95%, 96%, 97%)  97%
Median Condo List Price (6 months): $229,900 ($230k, $230k, $230k, $235k) *219k
Median Condo Sold Price (6 months): $222,500 ($222k, $225k, $225k, $226k) *209k
Average Days on Market Condos: 219 (97, 126, 92, 99, 91) *140

Active Vacant Lots: 1,099 (1,099, 1,084, 1,173, 1,150) *874

Market Rant

I'm not sure if anyone else has the same feeling, but can you believe it's February already? Time seems to be flying this year so far, but Buyers and Sellers aren't wasting any time getting into the 2017 market. 316 new property products hit the market this week, which is up significantly from last week, and last year at this time. Another interesting stat this week was the expired/cancelled/withdrawn pile, with a staggering post of 191! Of course, there is the end/beginning month contract anomaly to consider, so that could have influenced that and the new listing report this week. Values remain steady this week with a typical gain spread from last year. Which is always a welcomed sight for home buyers to see that their purchase will potentially increase in value over time, and Sellers to know that they may see their investment pay off in the end. The overall inventory level has drawn surprisingly close to this time last year, which is quite discouraging after seeing the gap widen in better favour throughout 2016. The third quarter of last year didn't have a stellar showing, and might have caused a bit of a lag going into 2017. Thankfully, it doesn't appear that trend will stick, since activity is increasing week to week, and possibly earlier than last year. Only time will tell, so be sure to check in to stay on top of the market here in Halifax by tuning into the Halifax Real Estate Blog! Thanks for stopping by!

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Karma Kamala-ian? Could use some luck here

WEEKLY ADOPTABLE
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Kamala is a bouncy, happy soul who has had a bit of a rough start to life. But, with a little bit of time and TLC, her true colours have shone through! She's a lovely girl, but can get a bit jumpy and mouthy when overstimulated with play, getting ready for walks and when showing affection so this will need to be trained out as soon as possible!

Adoption requirements are as follows:
- Children over 10.
- Playful, submissive dogs.
- Medium to high energy adopters preferred, to keep her active.
- Proof of registration in obedience classes required prior to adoption.
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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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LET ME HELP YOU OUT
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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!

VIEWPOINT REALTY

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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