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 October 20th - 27th, 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 237 (299, 223, 321, 278) *257
Sold: 102 (111, 125, 139, 141) *118
Sale To Listing Ratio: 43% (37%, 56%, 43%, 51%) *46%
Price Changes: 193 (222, 187, 226, 229) *274
Listings that went conditional/pending: 125 (155, 119, 139, 144) *107
Expired/Cancelled/Withdrawn: 130 (171, 119, 420, 130) *428
Total Active Halifax/Dartmouth Inventory: 5,085 (5,099, 5,133, 5,161, 5,368) *5,667
Absorption Rate in weeks: 43 (40, 38, 37, 44) *53
Single Family Home Stats
Active Single Family Home: 3,162 (3,158, 3,210, 3,267, 3,433) *3,792
Average Single Family Home List Price: $286,069 ($293k, $287k, $336k, $344k) *$274k
Average Single Family Home Selling Price: $274,424 ($283k, $278k, $323k) *$263k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 96%, 94%) *96%
Median Single Family Home List Price (6 months): $274,900 ($275k, $275k, $287k, $282k) *$255k
Median Single Family Home Sold Price (6 months): $267,000 ($268k, $268k, $270k, $267k) *$261k
Average Days on Market Single Family Home: 91 (109, 112, 87, 96) *85
Active Condos: 491 (486, 488, 471, 477) *466
Average Condo Listing Price: $215,484 ($180, $170k, $308k, $315k) *$286k
Average Condo Selling Price: $205,069 ($170k, $164k, $299k, $311k) *$279k
Condo Sale to List Ratio This Week: 95% (94%, 96%, 97%, 98%) 97%
Median Condo List Price (6 months): $236,450 ($239k, $240k, $320k, $305k) *240k
Median Condo Sold Price (6 months): $228,250 ($231k, $235k, $308k, $303k) *229k
Average Days on Market Condos: 110 (68, 31, 177, 81, 121) *115
Active Vacant Lots: 1,158 (1,156, 1,157, 1,145, 1,167) *1,101
The market continues it's decent into the annual Fall trend this week, with average reporting on most aspects and products. New listings continue to report lower than the last few years, but sales seem to be a little lacklustre comparably. The strong showing from the sales to list ratio is in thanks to the minimal listing additions this week, but that didn't fool the absorption rate which added an additional 3 weeks to the tally. Overall it was a relatively uneventful week this week, while speculators held their breath to see what affect, if any, the new mortgage rules would have. I suppose you'll have to stay tuned to find out! Thanks for stopping by!
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah