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 July 14th - July 21st 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 319 (302, 332, 403, 356) *360
Sold: 138 (139, 128, 165, 168) *165
Sale To Listing Ratio: 43% (46%, 37%, 41%, 47%) *46%
Price Changes: 289 (290, 227, 287, 302) *310
Listings that went conditional/pending: 167 (171, 138, 170, 172) *164
Expired/Cancelled/Withdrawn: 119 (105, 306, 161, 114) *137
Total Active Halifax/Dartmouth Inventory: 5,528 (5,494, 5,470, 5,518, 5,455) *5,962
Absorption Rate in weeks: 39 (37, 35, 33, 33) *41
Single Family Home Stats
Active Single Family Home: 3,670 (3,665, 3,633, 3,652, 3,653) *4,097
Average Single Family Home List Price: $301,680 ($292k, $298k, $296k, $311k) *$289k
Average Single Family Home Selling Price: $290,818 ($282k, $287k, $287k, $302k) *$277k
Single Family Home Sale to List Ratio This Week: 96% (97%, 96%, 97%, 97%) *96%
Median Single Family Home List Price: $274,900 ($275k, $270k, $260k, $279k) *$271k
Median Single Family Home Sold Price: $264,500 ($268k, $265, $252k, $272k) *$262k
Average Days on Market Single Family Home: 96 (87, 80, 73, 78) *76
Active Condos: 495 (483, 492, 504, 494) *522
Average Condo Listing Price: $273,072 ($278k, $263k, $235k, $224k) *$242k
Average Condo Selling Price: $264,400 ($270k, $255k, $226k, $216k) *$237k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 96%, 97%) *98%
Median Condo List Price: $229,900 ($230k, $255k, $218k, $210k) *226k
Median Condo Sold Price: $225,000 ($225k, $237k, $205k, $204k) *220k
Average Days on Market Condos: 46 (72, 84, 176, 85) *79
Active Vacant Lots: 1,084 (1,073, 1,074, 1,094, 1,043) *1,040
Too hot to type... Summer has definitely arrived in Halifax, and I for one am not going to complain. Sure I only turn one colour in the Summer and that's lobster, but after the Spring we had I will enjoy the heat and not complain about it! To the market!
Sellers seem to be taking gate same approach to Summer as there seems to be lower additions to the market this week (and last), and who can blame them? Buyer are still out though, and our sales to list ratio is killing it because of the lack of new additions. Strangely, the overall inventory levels increased despite the positive activity, but keep in mind that there is time implications with some of these stats and it may take a week or more to catch up to the current market reflection. Values remain steady, as does the sales to list ratio, but those are quite reliable here in Halifax. The market does look better than last year at this time, and has reported as such all year. Hopefully we will see the full impact of the activity we have seen turn around beginning in November 2015, but you'll have to stay tuned to find out! Thanks for stopping by!
Ari is a lovely little bluenose pitty searching for a home to call her own. She is such a character; she loves to play with toys and snuggle up on the couch any time! Ari would do fine meeting other dogs, although she can be a bit dominate upon introduction so if she's going to live with one, they'll need to be submissive with her or know how to tell her enough is enough. Ari would be great with kids - she can be a little jumpy but with some training that habit should be kicked in no time! If you're interested in meeting Ari, stop by any time during adoption hours.
This "cuddly companion" is available through the 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!
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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
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