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 July 19th - 26th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 341 (359, 335, 306, 332) *305
Sold: 163 (182, 174, 217, 189) *167
Sale To Listing Ratio: 48% (51%, 52%, 71%, 57%) *55%
Price Changes: 201 (249, 206, 190, 189) *197
Listings that went conditional/pending: 199 (207, 175, 220, 222) *194
Expired/Cancelled/Withdrawn: 90 (112, 229, 80, 101) *115
Total Active Halifax/Dartmouth Inventory: 4,273 (4,233, 4,225, 4,273, 4,284) +4,884
Absorption Rate in weeks: 23 (22, 22, 21, 22) *30
Single Family Home Stats
Active Single Family Home: 2,452 (2,446, 2,457, 2,479, 2,489) *2,999
Average Single Family Home List Price: $325,135($332k, $308k,$335k,$342k) *$300k
Average Single Family Home Selling Price: $316,305 ($323k, $299k,$323k,$330k) *$287k
Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 96%, 96%) *96%
Median Single Family Home List Price (6 mo): $289,000 ($289k,$290k,$290k,$290k)*$279k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 61 (55, 69, 58, 57) *74
Active Condos: 384 (392, 408, 424, 430) *473
Average Condo Listing Price: $227,155 ($236k, $212k, $239k, $296k) *$237k
Average Condo Selling Price: $219,717 ($226k, $204k, $229k, $290k) *$227k
Condo Sale to List Ratio This Week: 97% (96%, 96%, 96%, 98%) 96%
Median Condo List Price (6 mo): $229,900 ($235k, $235k, $238k, $239k) *$235k
Median Condo Sold Price (6 mo): $221,000 ($225k, $225k, $228k, $230k) *$225k
Average Days on Market Condos: 81 (117, 69, 87, 40) *66
Active Vacant Lots: 1,068 (1,018, 994, 998, 995) *1,176
For the last few weeks we have seen listings pour to the market in higher numbers than normal for this time of year, which may be chalked up to the extremely long Spring we had, or that word has finally spread that properties are moving! Not seeing the type of buyer volume we enjoyed not even 3 weeks ago, but there are still many out there looking for a place to call home. The absorption rate gained a week this week, but it has been quite steady in the last few months, reducing from last year at this time by a staggering seven weeks at this point. Believe it or not, that gap was much larger earlier in the year, but the strong market of 2017 has somewhat held its ground to keep it interesting. The noticeable improvements from 2017, and not just the absorption rate, include overall product values, average time spent on market, and fewer listings hitting the expired/cancelled churn. I think last year caught a lot of people off guard, and the early ramp up of the 2018 market year even more so. I did mention the wind falling out of the sails of the market as soon as July hit, but it was more of a downgrade from gale force to strong breeze. Still several legs of the 2018 market year journey, so be sure to stay tuned to the blog to see how we finish! Thanks for stopping by!
The weekly Adogtable!
Groot is a handsome fella looking for trouble! Don't let his sweet puppy eyes deceive you, this boy is 50% muscle and 50% energy.
His family should be confident around dogs and physically strong to manage 70lbs of unruly puppy love.
Groot is too easily aroused, therefore, very specific training and handling techniques must be carried out when working with him: calm, quiet, firm and delicious!
Groot's ideal home would be:
- With or without other pets
- With humans over the age of 18, excited to master the art of dog training!
- No apartments
Groot's adoption is by appointment only. If you are interested in this smiley fella, please email firstname.lastname@example.org to book a viewing.
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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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. We also offer mortgage and insurance solutions too! 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