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 November 10th - 17th, 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 227 (276, 374, 237, 299) *248
Sold: 117 (119, 114, 102, 111) *125
Sale To Listing Ratio: 52% (43%, 31%, 43%, 37%) *50%
Price Changes: 126 (161, 195, 193, 222) *219
Listings that went conditional/pending: 102 (123, 123, 125, 155) *114
Expired/Cancelled/Withdrawn: 140 (181, 458, 130, 171) *199
Total Active Halifax/Dartmouth Inventory: 4,859 (4,875, 4,905, 5,085, 5,099) *5,278
Absorption Rate in weeks: 43 (40, 43, 43, 40) *49
Single Family Home Stats
Active Single Family Home: 2,964 (2,994, 3,034, 3,162, 3,158) *3,472
Average Single Family Home List Price: $296,245 ($318k, $291k, $286k, $293k) *$323k
Average Single Family Home Selling Price: $282,307 ($306k, $280k, $274k) *$303k
Single Family Home Sale to List Ratio This Week: 95% (96%, 96%, 96%, 97%) *94%
Median Single Family Home List Price (6 months): $279,900 ($280k, 275k, $275k, $275k) *$255k
Median Single Family Home Sold Price (6 months): $273,500 ($268k, $267k, $267k, $268k) *$246k
Average Days on Market Single Family Home: 93 (116, 115, 91, 109) *143
Active Condos: 483 (482, 480, 491, 486) *441
Average Condo Listing Price: $305,140 ($243k, $257k, $216k, $180) *$220k
Average Condo Selling Price: $289,050 ($231k, $246k, $205k, $170k) *$209k
Condo Sale to List Ratio This Week: 95% (95%, 96%, 95%, 94%) 95%
Median Condo List Price (6 months): $229,900 ($235k, $235k, $237k, $239k) *235k
Median Condo Sold Price (6 months): $225,000 ($225k, $225k, $228k, $231k) *228k
Average Days on Market Condos: 61 (160, 96, 110, 68, 31) *115
Active Vacant Lots: 1,138 (1,128, 1,129, 1,158, 1,156) *1,067
Still not too shabby out there, but this week took a bit of a hit (activity wise), which can most likely be attributed to Remembrance Day, which made it more like a six day week of stats (and rightly so). Still a decent showing this week however, and sales only fell short by 2 products compared to last week, so the slow fade into the winter continues. Values remain steady this week, and days on market for both reported products remains average. Although there wasn't a huge bite taken out of the total inventory, there was still a reduction, and we continue to report much lower than this time last year. For those of you who have followed along since then, this is the time last year that things started to improve, that the market started it's fight back. There has been a few hurtles along the way, and there continues to be challenges, but the market and it's participants have persevered. New mortgage rules and rate hikes are definitely sending a mixed message to consumers, and I hope that the good and the bad balance out sooner than later. Stay tunes to find out, and thank you for stopping by!
Mya is looking for a family that can show her how to be a true dog! This gal has been lacking proper socialization, so she is hoping her new family can enrol her in obedience or confidence classes. She does get along with other dogs; a proper introduction is recommended, but we are asking for no other animals in the home due to guarding issues. Mya is quite playful and would love to have an active family that can take her to all kinds of fun places. Energy release is key to a happy dog, especially for Mya! She can get a little rambunctious when playing such as being jumpy and mouthy so there should be no young kids in the home would be best (10+).
If you're interested in making a new addition to your furry family, come meet Mya today!
Terrier, American Staffordshire/Mix
2 years 5 months
This "cuddly companion" is available through 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
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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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah