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 May 17th - May 24th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 336 (420, 379, 376, 350) *416
Sold: 195 (202, 186, 169, 185) *178
Sale To Listing Ratio: 58% (48%, 49%, 45%, 53%) *43%
Price Changes: 165 (215, 204, 204, 202) *191
Listings that went conditional/pending: 195 (237, 191, 189, 246) *213
Expired/Cancelled/Withdrawn: 90 (69, 82, 87, 87) *64
Total Active Halifax/Dartmouth Inventory: 4,229 (4,193, 4,088, 3,989, 4,034) +4,947
Absorption Rate in weeks: 23 (23, 23, 23, 25) *26
Single Family Home Stats
Active Single Family Home: 2,480 (2,426, 2,364, 2,309, 2,311) *3,026
Average Single Family Home List Price: $321,585 ($356k,$348k,$340k,$366k) *$324k
Average Single Family Home Selling Price: $312,723 ($341k,$341k,$330k,$256k) *$315k
Single Family Home Sale to List Ratio This Week: 97% (95%, 98%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $284,900 ($285k,$286k,$285k,$283k)*$279k
Median Single Family Home Sold Price (6 mo):$279,800 ($280k,$280k,$278k,$276k)*$270k
Average Days on Market Single Family Home: 50 (62, 59, 64, 71) *70
Active Condos: 408 (410, 383, 379, 384) *505
Average Condo Listing Price: $284,889 ($254k, $265k, $225k, $226k) *$261k
Average Condo Selling Price: $278,480 ($247k, $255k, $217k, $219k) *$249k
Condo Sale to List Ratio This Week: 98% (97%, 97%, 97%, 97%) 96%
Median Condo List Price (6 mo): $235,900 ($236k, $235k, $235k, $237k) *$230k
Median Condo Sold Price (6 mo): $224,500 ($225k, $225k, $225k, $227k) *$220k
Average Days on Market Condos: 88 (95, 41, 54, 59) *151
Active Vacant Lots: 983 (1,000, 993, 966, 988) *1,158
Interesting times indeed! An unusually low amount of inventory hit the market this week, which was met with a slightly above average sale count, sending the sales to list ratio soaring. Another lower than average showing this week was price changes, which could be a signal of value stabilization for some currently active products. Still positive buyer activity this week, but the number of accepted offers was down slightly from the last month or so, and from this time last year. Single family home values are down this week, but their average time on market too a significant reduction for the products that sold this week. Overall inventory is creeping up on last years stats, mainly because single family home inventory was up this week, but no help was given by vacant land and condo products, as they both had slight reductions. In the heart of it now, and activity has definitely increased from the surprisingly lazy April. It will be interesting to see how the Spring market ends up reporting overall, given all these mixed reports, so you will have to stay tuned to find out! Thanks for stopping by!
The Weekly Adogtable!
Meet Buffy! 12 months old Breed: boxer x Spay female Utd on vaccines Revolution Dog friendly No cats Reacts to cyclist Shy with strangers at first. she very playful with other dogs but can be fearful of (men especially) but she's perfect when she trust people. She just need patience and very positive humans.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him 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!
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Newest Blog post HERE
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