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 Week of May 14th - May 21st 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 606 (654, 665, 590, 533) *592
Sold: 132 (167, 160, 143, 125) *133
Sale To Listing Ratio: 22% (25%, 24%, 24%, 24%) *22%
Listings that went conditional/pending: 186 (176, 150, 174, 150, 162) *159
Expired/Cancelled/Withdrawn: 132 (164, 174, 66, 92) *79
Total Active Halifax/Dartmouth Inventory: 5,486 (5,337, 5,205, 5,095, 4,896) *5,483
Active Single Family Home: 3,718 (3,610, 3,491, 3,402, 3,258) 3,703
Average Single Family Home List Price: $336,712 ($295k, $291k, $294k, $306k) $299k
Average Single Family Home Selling Price: $328,125 ($286k, $284k, $284k) $290k
*Single Family Home Sale to List Ratio This Week: 98% (97%, 96%, 97%, 97%)
Average Days on Market Single Family Home: 120 (110, 100, 112, 116) *97
Active Condos: 563 (556, 463, 557, 534) *553
Average Condo Listing Price: $256,264 ($260k, $257k, $258k, $249k) *$254k
Average Condo Selling Price: $248,002 ($256k, $250k, $250k, $241k) *$244k
*Condo Sale to List Ratio This Week: 97% (98%, 97%, 97%, 97%)
Average Days on Market Condos: 140 (140, 90, 140, 77) *90
Absorption Rate in weeks: 46 (46, 47, 44, 46)
Active Vacant Lots: 888 (864, 854, 853, 831)
Just by a whisker! Inventory gains this week nosed out the stats from last year at this time claiming top spot on the overall standings, and no signs of slowing are eminent. Much like last week, although high, the inventory additions are being matched by renewed buyer activity in areas of the HRM. Sales where down this week overall, but the continued drawdown of withdrawn/expired/cancelled listings have kept the sales to list ratio from getting out of hand. There seems to be a slow rotation trend in the market, and I think it's been around for the last few years it's just becoming more obvious as of late. The top tier of property, wether it be a good list price or location, are still seeing good performance and luck with buyers. The rest of the majority, however, are still feeling a little jaded with their selling experience and the expectation that their property should have been snapped up within days of market exposure. So with an average sales performance and a higher than average listing "chum", it gives the appearance of "duck market"...cool and calm on the surface gliding forward, but below the water, those little feet are just kicking to get anywhere. Thanks for stopping by!
The Weekly Adogtable
Jayda is a 2 year old spayed Rottweiler female. She is high energy and needs training and will need a family who will dedicate lots of time to her what she needs to make her an awesome girl. Jayda will benefit from obedience training and plenty of exercise. She weighs 70 pounds and loves being around people. Her ideal home would be one where someone is home a lot, or works from homea strong dog savvy owner, and since she is so big and energetic, we highly recommend kids over 10 years of age. No cats please.
This "Girly girl" is available through Litters N Critters, a non profit rescue organization from Dartmouth, Nova Scotia. More info about her, 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 property 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.
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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