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Halifax (HRM) Residential Market Statistic Update for the Week of August 4th - August 11th 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New Listings: 316 (305, 294, 319. 302) *357 Sold: 148 (123, 156, 138, 139) *143 Sale To Listing Ratio: 47% (40%, 53%, 43%, 46%) *40% Price Changes: 259 (201, 247, 289, 290) *288 Listings that went conditional/pending: 164 (145, 179, 167, 171) *162 Expired/Cancelled/Withdrawn: 115 (284, 118, 119, 105) *126 Total Active Halifax/Dartmouth Inventory: 5,421 (5,389, 5,519, 5,528, 5,494) *6,015 Absorption Rate in weeks: 38 (39, 39, 39, 37) *44 Single Family Home Stats Active Single Family Home: 3,570 (3,564, 3,637, 3,670, 3,665) *4,096 Average Single Family Home List Price: $275,047 ($305k, $335k, $320k, 292k) *$320k Average Single Family Home Selling Price: $261,899 ($319k, $291k, $282k) *$293k Single Family Home Sale to List Ratio This Week: 95% (96%, 95%, 96%, 97%) *92% Median Single Family Home List Price: $239,900 ($285k, $280k, $275k, $275k) *$288k Median Single Family Home Sold Price: $230,000 ($274k, $275k, $265k, $268k) *$269k Average Days on Market Single Family Home: 90 (98, 86, 96, 87) *122 Condo Stats Active Condos: 507 (493, 504, 495, 483, 492) *517 Average Condo Listing Price: $242,264 ($241k, $235k, $273k, $278k) *$246k Average Condo Selling Price: $234,270 ($232k, $227k, $264k, $270k) *$231k Condo Sale to List Ratio This Week: 97% (97%, 97%, 97%, 97%) *94% Median Condo List Price: $210,000 ($227k, $229k, $230k, $230k) *239k Median Condo Sold Price: $205,000 ($222k, $225k, $225k, $225k) *249k Average Days on Market Condos: 65 (94, 86, 46, 72) *89 Active Vacant Lots: 1,072 (1,060, 1,096, 1,084, 1,073) *1,091 MARKET RANT Although we are currently starting our decent into the lower inventory months of the year, this week proved there's still life in the "ol market" yet, so to speak. Quite the contrasting stories we have this week, where the season is saying "hey, it's Summertime... lets slow it down a bit", and Buyers are like "we actually have a different idea". Weekly new additions are still trending much lower than last year, and with sales reporting slightly healthier, there has been a decent adjustment to the time it would take to sell all off the inventory if no more properties were added (absorption rate). One of the oddities of the week is the much lower than average values for single family homes. I knew the entry level product was top dog for movement, but this week dominated, taking that sales value way down. I'm curious if the Summer encourages a different Buyer, in any case, there is still good activity out there. So there's some ups and downs, a few unexpected stats and a few reliable ones. The August market feels much the same as April market, just a bit warmer. Thanks for stopping by!
WEEKLY ADOPTABLE Finnigan is a docile and loving little Westie hoping to find a new home with his brother Declan. These boys grew up together since they were puppies and we just can't think to separate them! Finnigan is more relaxed of the two, but enjoys going for walks to explore. These senior boys get along well enough with other dogs, but aren't interested in making any new besties - they have each other! If you're interested in meeting Finnigan and Declan, come on by 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. 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!  The Viewpoint Realty Interactive Property Map VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! 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 Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. 
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