The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Thursday)
Halifax (HRM) Residential Statistic Update for the Week of March 7th - March 14th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 251 (330, 189, 218, 248) *270
Sold: 146 (126, 111, 129, 114) *134
Sale To Listing Ratio: 58% (38%, 59%, 59%, 46%) *50%
Price Changes: 100 (100, 82, 81, 80) *102
Listings that went conditional/pending: 169 (165, 167, 135, 153) *134
Expired/Cancelled/Withdrawn: 61 (102, 54, 69, 75) *81
Total Active Halifax/Dartmouth Inventory: 3,160 (3,150, 3,075, 3,117, 3,096) +3,722
Absorption Rate in weeks: 25 (26, 26, 27, 30) *30
Single Family Home Stats
Active Single Family Home: 1,700 (1,674, 1,629, 1,656, 1,657) *2,047
Average Single Family Home List Price: $336,540 ($344k,$334k,$313k,$331k) *$301k
Average Single Family Home Selling Price: $329,548 ($337k,$326k,$303k,$324k) *$291k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 97%, 98%) *97%
Median Single Family Home List Price (6 mo): $289,250 ($290k,$290k,$286k,$290k)*$276k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 55 (78, 69, 79, 66) *88
Active Condos: 260 (298, 259, 261, 254) *368
Average Condo Listing Price: $295,268 ($226k, $229k, $266k, $293k) *$242k
Average Condo Selling Price: $285,009 ($215k, $221k, $256k, $285k) *$232k
Condo Sale to List Ratio This Week: 97% (95%, 95%, 96%, 97%) 96%
Median Condo List Price (6 mo): $239,900 ($240k, $240k, $240k, $240k) *$240k
Median Condo Sold Price (6 mo): $232,000 ($230k, $231k, $232k, $232k) *$234k
Average Days on Market Condos: 51 (108, 93, 71, 60) *97
Active Vacant Lots: 939 (932, 911, 920, 918) *986
Well, that's two weeks in a row! Even though the inventory gain was very marginal, it still fell into the increasing trend, which is the way the market usually goes around this time of year. New listing additions weren't a huge influence this week, although they helped, and sales reported higher than average, so you have to wonder where the numbers are coming from. Vacant lot inventory increased this week, so too did single family homes, but Condo inventory decreased significantly, so you would think that with the amount of sales and fewer new additions that inventory would have balanced out, I guess we came pretty close. The above average sales activity looks as though it will continue into next week, at the least, as the listings that reported conditional pending stayed above the norm again this week. So it looks like it's "business as usual" again, where "usual" means increased sales, lack of inventory, less time on market for sellers, and lots of buyer activity. I, for one, welcome this new market, and I hope it sticks around for the foreseeable future! Thanks for stopping by, and be sire to check in to stay on top of the market!
The Weekly Adogtable!
BELLA is up to date on on vaccinations. No issues with physical manipulations, enjoys her humans handling her, body, face and feet. No bite history. No resource guarding. High energy and
Loves to play with other dogs. Great with even the shyest and the moodiest ones, and they all love her.
Cat friendly, but very playful with them. Bella is a friendly gal that loves to play and easily gets excitable, jumpy and boisterous. If you tell her to stop, she listens and needs someone who can give her structure. No separation anxiety. Good on leash and learning basic obedience.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, 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.
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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Newest Blog post HERE
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