The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: September 7th-14th
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 222 (225) *235
Sold: 111 (91) *105
Sale To Listing Ratio: 50% (40%) *45%
Price Changes: 102 (80) *114
Listings that went conditional/pending: 135 (124) *140
Expired/Cancelled/Withdrawn: 79 (79) *67
Total Active Halifax/Dartmouth Inventory: 1,477 (1,407) *1,335
Absorption Rate in weeks: * (*) *12
Single Family Home Stats
Active Single Family Home: 761 (707) *706
Average Single Family Home List Price: $507,055 ($584k) *$543k
Average Single Family Home Selling Price: $515,601 ($578k) *$539k
Single Family Home Sale to List Ratio This Week: 102% (99%) *99.9%
Median Single Family Home List Price (6 mo):$529,949 ($500k) *$460k
Median Single Family Home Sold Price(6 mo):$545,000 ($520k)*$521k
Average Days on Market Single Family Home: 24 (50) *21
Active Condos: 115 (110) *94
Average Condo Listing Price: $531,469 ($388k) *$390k
Average Condo Selling Price: $529,723 ($390k) *$388k
Condo Sale to List Ratio This Week: 99% (100%) *99%
Median Condo List Price (6 mo): $425,000 ($415k) *$375k
Median Condo Sold Price (6 mo): $430,000 ($415k) *$413k
Average Days on Market Condos: 22 (26) *46
Active Vacant Lots: 423 (417) *389
Nice to see some new additions to the market this week! With single family homes leading the charge, there was a 70 unit gain this overall, which is rather surprising given the time of year. Usually, inventory tapers off by this time, and continues to do so until New Years Eve day, ending with the lowest count of the year. With prices cooling and options becoming more available, the Sellers market doesn't have as much bite as it used to, but still packs a punch in certain areas and price points. You could argue that there are other areas and certain price points of the municipality that are in a balanced market, thanks to a cushion of $800k+ stock hanging around, however. The first time home buyer price point is still red hot in most areas of the city, but even that sector is starting to see less activity, unless it is turn-key of course. Interest in the market has temporarily faded a bit, but that can be a seasonal trend factor. This time last year did see many similar statistics, in fact, they look eerily similar this week. Look for things to pick up a bit near the end of the month, then remain steady for October as folks make their final push before the holiday season. For now, the market pushes on, even if it is not the firework show that was the pandemic market. Thanks for stopping by, and be sure to stay tuned to the blog to stay on top of the market here in Halifax!
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!
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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
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