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 10th - May 17th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 420 (379, 376, 350, 338) *400
Sold: 202 (186, 169, 185, 169) *213
Sale To Listing Ratio: 48% (49%, 45%, 53%, 50%) *53%
Price Changes: 215 (204, 204, 202, 166) *209
Listings that went conditional/pending: 237 (191, 189, 246, 184) *203
Expired/Cancelled/Withdrawn: 69 (82, 87, 87, 78) *99
Total Active Halifax/Dartmouth Inventory: 4,193 (4,088, 3,989, 4,034, 4,027) +4,860
Absorption Rate in weeks: 23 (23, 23, 25, 29) *26
Single Family Home Stats
Active Single Family Home: 2,426 (2,364, 2,309, 2,311, 2,323) *2,971
Average Single Family Home List Price: $356,325 ($348k,$340k,$366k,$356k) *$339k
Average Single Family Home Selling Price: $340,586 ($341k,$330k,$256k,$345k) *$329k
Single Family Home Sale to List Ratio This Week: 96% (98%, 97%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $284,900 ($286k,$285k,$283k,$280k)*$275k
Median Single Family Home Sold Price (6 mo):$279,850 ($280k,$278k,$276k,$275k)*$269k
Average Days on Market Single Family Home: 62 (59, 64, 71, 59) *65
Active Condos: 410 (383, 379, 384, 378) *504
Average Condo Listing Price: $253,590 ($265k, $225k, $226k, $235k) *$252k
Average Condo Selling Price: $247,061 ($255k, $217k, $219k, $226k) *$243k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 97%, 96%) 96%
Median Condo List Price (6 mo): $235,900 ($235k, $235k, $237k, $239k) *$228k
Median Condo Sold Price (6 mo): $224,500 ($225k, $225k, $227k, $233k) *$216k
Average Days on Market Condos: 95 (41, 54, 59, 77) *98
Active Vacant Lots: 1,000 (993, 966, 988, 977) *1,128
Spring market is certainly in swing! One of the largest listing deposits of the year this week, which has been increasing week over week up to this point. Lots of other serious activity going on at the moment as well, and some that doesn't seem to match up with the current state of affairs. Spring market brings higher than average product addition, sales, and lots of offers, which is all signs of a healthy market. The expectation is that you wouldn't expect to see bulk price reductions or increased days on market, but despite the activity, these particular stats remain tepid at best. Still, values remain steady, absorption rate solid, and overall, the market is buzzing. Last few weeks have been a bit quiet, but this week things have been kicked into high gear! That is the ebb and flow of the market it seems. If this week is an indicator of things to come, then the futures looks bright! Thanks for stopping by!
The Weekly Adogtable!
Meet Vinny! Needs a neuter and microchip by the rescue. Received first vaccinations, rabies + Bordetella Dewormed. Good with touching all over. Energetic, fine with dogs through kennel but being a high energy unaltered male he may upset some dogs. Lived with cat(s). Showing signs of food aggression with people. Friendly with everyone he meets. Okay on leash. Knows sit. No known medical condition or physical limitations. House and crate trained and can hold himself during the day for 3+ hours. Chews when alone and uncrated so chew toys, Kong suggested. Very friendly with newcomers and will jump up.
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!
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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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