Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 177 () *129 Sold: 76 () *60 Sale To Listing Ratio: 43% () *47% Price Changes: 53 () *42 Conditional Sale: 106 () *114 Expired/Cancelled/Withdrawn: 45 () *42 Total Active Halifax/Dartmouth Inventory: 1,272 (1,393) *1,016 Single Family Home Stats Active Single Family Home: 652 () *462 Average Single Family Home List Price: $634,070 () *$579k Average Single Family Home Selling Price: $623,403 () *$555 Single Family Home Sale to List Ratio This Week: 98% () *96% Median Single Family Home List Price (6 mo):$499,900 () *$460k Median Single Family Home Sold Price(6 mo):$515,000 ()*$460k Average Days on Market Single Family Home: 55 () *44 Condo Stats Active Condos: 97 () *67 Average Condo Listing Price: $430,630 () *$555k Average Condo Selling Price: $421,600 () *$451k Condo Sale to List Ratio This Week: 98% () *81% Median Condo List Price (6 mo): $424,900 () *$396k Median Condo Sold Price (6 mo): $421,500 () *$390k Average Days on Market Condos: 49 () *39 Active Vacant Lots: 412 () *274 Market Rant Coming out of the gate swinging! Big push of new listings to market this week, met with a hardy group buyers, who seem ready to deal! This is the usual trend post holiday season however, with the exception of the amount of new listings in a week. Perhaps there is a buzz in the air regarding the market, and Sellers are not going to pass up their chance to miss out on premium listing prices. Speaking of values, it might not be the greatest news for Sellers this week, as there was a significant drop in both tracked products six month median listing and selling prices over the holiday break. The six month data is more reflective of the trending market, especially since there is way more data to pull from, and the weekly stats can get a little skewed with a few exceptional sales for instance. Overall however, the numbers are pointing to a continued value correction, which as mentioned in the 2023 annual summary below, the anticipation is that this will continue to adjust as the year presses on. We kick off the year with the highest amount of inventory since 2020, which is also expected to grow as the months wear on. The question at this point is just how much inventory will climb this year, and how will the climbing numbers directly impact listing/selling prices. With values correcting, and the first wave of three year mortgage renewals since the pandemic approaching, the pendulum may swing rather quickly if given the right conditions. Stay tuned to the blog to stay on top of our teetering market and stay informed! Thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from 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 Looking to help? With the devastation of the fires and floods, we are still far from a full recovery and many animals and people could use help! I want to provide links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. 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 Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. ListingsPhoto's by Jeremiah
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