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 May 12th - May 19th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 414 (452, 500, 388, 393) *606
Sold: 160 (174, 160, 151, 155) *132
Sale To Listing Ratio: 39% (39%, 32%, 39%, 39%) *22%
Price Changes: 252 (255, 296, 275, 193)
Listings that went conditional/pending: 185 (200, 197, 181, 182) *186
Expired/Cancelled/Withdrawn: 104 (102, 250, 100, 106) *132
Total Active Halifax/Dartmouth Inventory: 5,330 (5,241, 5,124, 5,051, 4,961) *5,486
Absorption Rate in weeks: 34 (33, 34, 35, 37) *46
Single Family Home Stats
Active Single Family Home: 3,571 (3,526, 3,348, 3,391, 3,333) *3,718
Average Single Family Home List Price: $286,663 ($335k, $298k, $304k, $302k) *$337k
Average Single Family Home Selling Price: $278,715 ($325k, $289k, $294k, $293k) *$328k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 97%) *98%
Median Single Family Home List Price: $269,900 ($300k, $280k, $269k, $277k)
Median Single Family Home Sold Price: $259,000 ($292k, $270k, $263k, $271k)
Average Days on Market Single Family Home: 78 (81, 115, 85, 98) *120
Active Condos: 453 (453, 451, 450, 446) *563
Average Condo Listing Price: $314,316 ($308k, $240k, $239k, $275k) *$256k
Average Condo Selling Price: $306,766 ($301k, $221k, $229k, $267k) *$248k
Condo Sale to List Ratio This Week: 98% (98%, 92%, 96%, 97%) *97%
Median Condo List Price: $324,900 ($265k, $236k, $202k, $283k)
Median Condo Sold Price: $312,500 ($256k, $230k, $185k, $271k)
Average Days on Market Condos: 76 (64, 94, 141, 75) *140
Active Vacant Lots: 1,034 (1,016, 985, 972, 949) *888
Another solid week on the market! Not entirely time to break out the banners and champagne just yet, but the market outlook is starting to look promising for Sellers. Another week into the Spring market and a larger gap widened between the inventory levels of this year and last. Just looking at the new listing additions compared to last, there is quite a significant difference. The abundant additions might have been late bloomers to the market, given the brutal winter in 15, but it still seems quite the difference. We have had a slower trickle of inventory than usual this year, and with positive Buyer engagement, there has been real progress to the recovery of the selling market. Just look at the absorption rate. Down a full 13 weeks from the same time last year, and decreasing every week. Buyers are still heavily active and increasing in volume, just look at the listings that have gone conditional, up 24 units more than this time last year. The market year will be summarized by the next few months (unless something extraordinary happens), but if things keep going the way they have been, it might prove to be the year that many have been hoping for. Stay tuned to find out!
Hi, my name is Oak and I am a beautiful and shy little lady. I am about 4-5 years old, and I love to be pampered and adored as most Papillions do. I am learning how to sit and my house manners are coming along really well ! My foster family adores me, but I am healthy and active so it is time for me to find my forever home where I can be spoiled and treasured for the amazing dog I am. I like other small dogs, but I am not too fond of larger ones as they scare me a bit. I am very timid with new situations, so I will need a quiet adult home without children. I am a special needs girls, as I do require a particular diet to maintain my great health. I love my food and am not a picky eater at all. I love my baths and require grooming to keep me looking fabulous. I love spending time in my bed cuddled up and I enjoy walking around in the yard checking out the flowers.
If you think you might be the perfect home for me, please inquire about me. I will be visiting the shelter occasionally (as I enjoy my warm bed at my foster home), but my foster family would be happy to bring me in on a weekday to meet you if are really excited to meet me! Love, Miss Oak xoxoxox
This "cuddly companion" is available through the Dartmouth SPCA, 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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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