The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Thursdays)
Halifax (HRM) Residential Statistic Update for the Week of August 30th - September 6th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 208 (294, 255, 241, 309) *275
Sold: 126 (147, 146, 167, 176) *117
Sale To Listing Ratio: 61% (50%, 57%, 69%, 57%) *43%
Price Changes: 143 (158, 153, 165, 198) *188
Listings that went conditional/pending: 135 (179, 158, 130, 219) *152
Expired/Cancelled/Withdrawn: 201 (142, 113, 68, 183) *94
Total Active Halifax/Dartmouth Inventory: 4,027 (4,194, 4,200, 4,213, 4,195) +4,615
Absorption Rate in weeks: 27 (26, 26, 25, 24) *33
Single Family Home Stats
Active Single Family Home: 2,287 (2,392, 2,410, 2,420, 2,409) *2,861
Average Single Family Home List Price: $332,581 ($318k,$314k,$301k,$315k) *$290k
Average Single Family Home Selling Price: $323,292 ($308k,$303k,$292k,$305k) *$278k
Single Family Home Sale to List Ratio This Week: 97% (97%, 96%,97%, 97%) *96%
Median Single Family Home List Price (6 mo): $289,000 ($289k,$289k,$287k,$289k)*$280k
Median Single Family Home Sold Price (6 mo):$282,000 ($281k,$281k,$280k,$281k)*$270k
Average Days on Market Single Family Home: 66 (69, 71, 66, 88) *86
Active Condos: 331 (357, 379, 377, 381) *408
Average Condo Listing Price: $256,386 ($287k, $277k, $247k, $211k) *$241k
Average Condo Selling Price: $248,920 ($282k, $267k, $208k) *$232k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 98%, 98%) 97%
Median Condo List Price (6 mo): $229,900 ($230k, $230k, $230k, $230k) *$240k
Median Condo Sold Price (6 mo): $222,500 ($221k, $221k, $223k, $223k) *$230k
Average Days on Market Condos: 74 (118, 132, 56, 100) *74
Active Vacant Lots: 1,067 (1,084, 1,060, 1,071, 1,055) *1,141
September long weekend seems to have quite the impact on the annual market, and sets the unofficial signal fire to commence the Fall market. Several factors surround this time of year, which is likely some of the reasoning behind the lacking report. Summer holidays have come to an end, so parents have likely settled for the season while they prepare the kiddos for school, and with the last Summer long weekend behind us, I would anticipate a good amount of people tried to squeeze every last drop out of the season. Listings from the late Spring/early Summer market have waned, leaving some Sellers to make the decision to carry on or pull from the market. Ultimately, it's back to business for most, so you can bet on activity increasing, however, it might be a different kind and volume. My prediction is that we will see an Autumn unlike many of the years prior. The 2018 market year has been a lion, and I don't anticipate is going out like a lamb. The market is still buzzing, and several pockets of Sellers market still remain. Sure, we are down in activity this week, but I have a feeling things are about to surge yet again. Thanks for stopping by, and don't forget to hit the like button below!
The Weekly Adogtable!
Ronny is an energetic, playful dog with a heart of gold. He will require a family that can help him become the best version of himself - he needs to work on his manners and be shown how to be an awesome dog. An active family is a must as this guy enjoys being outdoors and always on the go!
Ronny's ideal home:
- With or without other dogs
- With children over the age of 12
- Proof of registration in obedience classes is mandatory at the time of adoption
If you're ready for adventure, drop by during our adoption viewing hours to meet Ronny! They are 2-6pm Monday through Friday and 12-3pm Saturdays and Sundays.
This "cuddly companion" is available through Homeward Bound City Pound, 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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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