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 March 23rd - March 30th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 306 (289, 345, 370, 289) *315
Sold: 112 (117, 118, 89, 97) *109
Sale To Listing Ratio: 37% (41%, 34%, 24%, 34%) *35%
Price Changes: 156 (116, 125, 137, 142) *135
Listings that went conditional/pending: 145 (163, 160, 105, 132) *146
Expired/Cancelled/Withdrawn: 73 (78, 72, 97, 199) *145
Total Active Halifax/Dartmouth Inventory: 4,577 (4,490, 4,459, 4,367, 4,221) *4,663
Absorption Rate in weeks: 43 (43, 44, 48, 46) *40
Single Family Home Stats
Active Single Family Home: 2,696 (2,639, 2,624, 2,555, 2,488) *3,103
Average Single Family Home List Price: $312,888 ($314k, $357k, $325k, $331k) *$319k
Average Single Family Home Selling Price: $304,597 ($306k, $346k, $316k, $320k) *$305k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 97%) *96%
Median Single Family Home List Price (6 mo): $277,900 ($279k, $276k, $279k, $279) *$275k
Median Single Family Home Sold Price(6 mo):$267,750 ($268k,$267k,$268k,$269k)*$260k
Average Days on Market Single Family Home: 89 (86, 89, 119, 95) *89
Active Condos: 465 (452, 440, 440, 414, 416) *442
Average Condo Listing Price: $252,300 ($334k, $298k, $321k, $271k) *$274k
Average Condo Selling Price: $244,170 ($320k, $290k, $303k, $269k) *$268k
Condo Sale to List Ratio This Week: 97% (96%, 97%, 94%, 99%) 98%
Median Condo List Price (6 mo): $224,900 ($225k, $225k, $230k, $225k) *$175k
Median Condo Sold Price (6 mo): $215,000 ($218k, $219k, $220k, $220k) *$170k
Average Days on Market Condos: 56 (87, 146, 85, 113, 141) *86
Active Vacant Lots: 1,174 (1,161, 1,158, 1,138, 1,098) *917
Although listings have been taking their time coming to market, activity remains steady despite the weather. This weeks total market report shows much the same as this time last year, and that includes listings. Single family home inventory remains lower than last year, but both condo and vacant land levels continue to climb. Vacant land has an appeal for a lot of people, but when details on how to purchase it, and develop it become clear how challenging it is, turning some buyers away from their would be project. There's a lot of working parts including municipal approvals, build limitations, and the big one...financing. Although there is builders willing to fund land purchase via turn key packages, most buyers look to develop it to their specific needs and building size, which doesn't always line up with that option. Taking the development on without a builder has a lot of red tape, especially if financing is needed, which most do. Lenders usually shy away from mortgaging land as there is no equity in it, so that leaves the buyer on the hook to finance via personal loan or using equity from another source like a current residence (if there is enough equity in it to refinance). In any case, if that is something that you might want more information about, or to talk about other financing options, ViewPoint Mortgage Brokerage might be able to help! Simply click HERE to find out more! Thanks for stopping by!
Introducing Bebe. Please NO CATS as he has a high prey drive and has lots of energy. Knows basic commands: sit, lie down, paw , Crate trained,house broken, treat motivated, loves to please, listens well , playful. Has good bones.
Challenges: pulls on leash (will introduce a gentle leader) jumps up to greet (training, time and patience) barks and will chew if left alone long hours so needs to be crate if away , fear reacts to dogs and lack of confidence( training and safe socialization opportunities) Temperment: Very good temperament, loves toys , attention, good with kids and adults, loyal, protective . Bebe shows signs of someone having had a heavy hand, and his basic needs for companionship, exercise and socialization were neglected . Proof of enrolment in training is required before adoption would be considered too build his confidence.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, 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!
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
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