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(Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 367 (351, 322, 334, 399) *265 Sold: 270 (221, 248, 250, 268) *192 Sale To Listing Ratio: 63% (63%, 77%, 75%, 67%) *72% Price Changes: 140 (114, 111, 116, 123) *132 Listings that went conditional/pending: 317 (252, 297, 274, 294) *208 Expired/Cancelled/Withdrawn: 60 (46, 65, 56, 123) *66 Total Active Halifax/Dartmouth Inventory: 1,741 (1,771, 1,793, 1,830, 1,875) +3,139 Absorption Rate in weeks: 7 (7, 7, 8, 8) *19 Single Family Home Stats Active Single Family Home: 838 (872, 904, 916, 952) *1,716 Average Single Family Home List Price: $391,168 ($404k,$413k,$402k,$376k) *$351k Average Single Family Home Selling Price: $394,344 ($409k,$413k,$408k,$381k) *$342k Single Family Home Sale to List Ratio This Week: 101% (101%,99%,101%,101%) *98% Median Single Family Home List Price (6 mo): $339,900 ($339k,$338k,$335k,$333k)*$309k Median Single Family Home Sold Price (6 mo):$343,500 ($342k,$340k,$338k,$337k)*$303k Average Days on Market Single Family Home: 34 (51, 48, 41, 43) *54 Condo Stats Active Condos: 163 (159, 153, 164, 161) *220 Average Condo Listing Price: $268,274 ($289k, $289k, $249k, $300k) *$275k Average Condo Selling Price: $272,273 ($289k, $286k, $257k, $304k) *$269k Condo Sale to List Ratio This Week: 100% (100%, 99%, 104%, 101%) 98% Median Condo List Price (6 mo): $259,900 ($270k, $270k, $270k, $275k) *$250k Median Condo Sold Price (6 mo): $260,000 ($270k, $272k, $270k, $273k) *$243k Average Days on Market Condos: 18 (33, 30, 17, 22)*46 Active Vacant Lots: 568 (569, 571, 585, 588) *935 Market Rant At first glance, it looks like there may be indications that the market is softening a touch, looking closer, however, you can see that is actually not the case at all. Some of the predicted items did perform as expected, like the continued addition solid new listing numbers and values taking a slight correction, but the waining buyer activity of last week did not carry forward this week since we hit a peak amount of properties under agreement, and sales crushed it too! Average days on market for both tracked products almost seems unreal, reporting in at a measly month from list to sale on average. A few short years ago, those numbers were in the the 100's, with only the last couple years cleaning that up to the short span of the listing/sale cycle we find ourselves in today. Gone however are the factors that caused these delays and extension of market exposure. Almost every listing out there is getting ideal buyer candidates, no homes to sell and ones that want to close yesterday, so quick closings and expedited due diligence timelines are almost expectations at this point. A few short years ago, buyers would take time finding a place, likely offer lower (sometimes much lower) than asking, multiple offers where practically unheard of and over asking price offers? Forget about that kind of thing! One of the big problems we face is the second+ home groups who want to relocate or up/downsize their current accommodations. Sure, they could sell in seconds, but they really have limited options to purchase, just like everyone, but the key difference is the safety of SOBP, or Sale of Buyers Property, condition. This allows a seller who has their home ready to sell an opportunity to comfortably move from one step to the other without total risk of losing the home they have have an offer in on. This was acceptable in a buyers market, since sometimes a home would hit a stall and would look to other options in order to sell, and a domino sell my home / buy a home people could lock a property up and get some time to sell their home. In our current market 2.0 however, this undesirable condition for sellers has become almost extinct. Not only is it an undesirable condition for sellers to accept (most of the time, as they have to sit and wait for their buyers home to sell), the market is moving so quickly, that even if one of the domino groups were able to get a property under agreement with this condition, they would likely find themselves short of their timeline when the sellers opt for their escape clause, leaving the buyers somewhat out. It's risky, and can be accomplished, but it's much harder than a few short years ago. This is also a good reason why new construction has hit record heights this year, the ability to plan the move and have time. That's a topic for another day though! Thanks for stopping by, and stay safe out there! The Weekly Adogtable! Meet Charleigh! No cats, kids or dogs in her home, although she gets along with dogs outside of her home, if proper introductions are done. Charleigh is afraid of loud noises and resource guards her food and toys with other dogs. She is good on leash, and knows her basic commands. She jumps up when she is excited and loves all the adults she has met. She is energetic, playful, and affectionate. She is crate trained and loves to go for car rides! This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Nova Scotia. More info about her 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!  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.. 
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