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 June 15th - June 22nd, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 329 (343, 449, 387, 416) *403
Sold: 239 (200, 197, 180, 178) *165
Sale To Listing Ratio: 73% (58%, 44%, 47%, 43%) *41%
Price Changes: 222 (228, 251, 248, 191) *287
Listings that went conditional/pending: 197 (245, 227, 248, 213) *170
Expired/Cancelled/Withdrawn: 111 (132, 194, 218, 64) *161
Total Active Halifax/Dartmouth Inventory: 4,932 (4,909, 4,944, 4,862, 4,947) *5,518
Absorption Rate in weeks: 24 (26, 26, 25, 26) *33
Single Family Home Stats
Active Single Family Home: 3,007 (3,024, 3,047, 2,987, 3,026) *3,652
Average Single Family Home List Price: $310,844 ($292k, $298k, $326k, $324k) *$296k
Average Single Family Home Selling Price: $301,435 ($284k, $283, $317k, $315k) *$287k
Single Family Home Sale to List Ratio This Week: 97% (97%, 95%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $279,900 ($280k,$279k,$279k,$279k)*$260k
Median Single Family Home Sold Price (6 mo): $270,442 ($270k,$270k,$270k,$270k)*$252k
Average Days on Market Single Family Home: 61 (75, 80, 60, 70) *73
Active Condos: 481 (482, 487, 481, 505) *504
Average Condo Listing Price: $257,865 ($285k, $251k, $280k, $261k) *$235k
Average Condo Selling Price: $246,065 ($276k, $244k, $281k, $249k) *$226k
Condo Sale to List Ratio This Week: 95% (97%, 97%, 97%, 96%) 96%
Median Condo List Price (6 mo): $229,000 ($230k, $230k, $230k, $230k) *$218k
Median Condo Sold Price (6 mo): $218,000 ($220k, $218k, $220k, $220k) *$205k
Average Days on Market Condos: 91 (84, 95, 150, 151, 98) *176
Active Vacant Lots: 1,174 (1,153, 1,160, 1,145, 1,158) *1,043
Would you look at that sales to list ratio! That would be the highest percentage we have seen this year so far, and I would dare say the highest in last few years overall. There is a few factors influencing that report, but the biggest one is certainly the lack of new listings that are coming to market each week. We have had somewhat of a seller reluctance to test the market this year, that, or there's just not as many people needing to sell their property. Overall, the lower amount of new additions week over week has caused a bit of buyer frustration and lack of selection, something that hasn't been felt across the city in a few years. Sales remain strong, and so to is the buyer activity, with another week of around 20o listings that received and accepted offers. Values remain solid, and days on market are down on average from this time last year. The market here has definitely undergone a bit of a transformation from last year, which has some folks rejoicing and others a bit frustrated. In any case, it has been an interesting year so far, and I'm looking forward to seeing how the Spring momentum carries over to the Summer months. Stay tuned to find out, and thanks for stopping by!
Ari is on the hunt for a new family. A young retriever, she is true to her breed and loves being outdoors exploring and/or playing in the water. She fetches like a dream and releases toys readily. She loves her humans so much, she can't contain her excitement and will talk quite regularly. Ari is a very anxious dog, and would prefer a home where she is not left alone for long periods. Her adoption requirements as follows:
A home free of other animals as she has a high prey drive - large dogs scare her, small dogs and cats she will chase.
A home with children over the age of 8 is suitable.
A country home would be best (no apartments for this girl).
A highly active family.
Come meet Ari today!
This "cuddly companion" is available through Homeward Bound City Pound, 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
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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