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 May 9th - May 16th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 351 (401, 378, 329, 359) *420
Sold: 203 (209, 197, 206, 232) *202
Sale To Listing Ratio: 58% (52%, 52%, 63%, 64%) *48%
Price Changes: 181 (177, 171, 139, 135) *215
Listings that went conditional/pending: 232 (261, 273, 186, 250) *237
Expired/Cancelled: 56 (62, 121, 69, 73, 54) *69
Total Active Halifax/Dartmouth Inventory: 3,375 (3,300, 3,268, 3,312, 3,233) +4,193
Absorption Rate in weeks: 17 (16, 16, 18, 18) *23
Single Family Home Stats
Active Single Family Home: 1,897 (1,878, 1,828, 1,860, 1,798) *2,426
Average Single Family Home List Price: $366,851 ($350k,$356k,$336k,$323k) *$356k
Average Single Family Home Selling Price: $358,937 ($344k,$348k,$329k,$315k) *$341k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 98%) *96%
Median Single Family Home List Price (6 mo): $299,100 ($299k,$295k,$290k,$290k)*$285k
Median Single Family Home Sold Price (6 mo):$291,500 ($290k,$287k,$283k,$284k)*$280k
Average Days on Market Single Family Home: 44 (59, 53, 65, 60) *62
Active Condos: 260 (261, 258, 257, 252) *410
Average Condo Listing Price: $316,466 ($276k, $274k, $243k, $251k) *$254k
Average Condo Selling Price: $311,127 ($272k, $266k, $236k, $241k) *$247k
Condo Sale to List Ratio This Week: 98% (98%, 97%, 97%, 96%) 97%
Median Condo List Price (6 mo): $248,250 ($245k, $248k, $246k, $250k) *$236k
Median Condo Sold Price (6 mo): $241,000 ($239k, $241k, $241k, $245k) *$225k
Average Days on Market Condos: 43 (46, 60, 65, 69) *95
Active Vacant Lots: 943 (934, 931, 936, 926) *1,000
Unless you've been hiding under a rock, or perhaps just entering the real estate market here in Halifax, there should be no surprise to start out with another "hot market in Halifax" alert. This week keeps the train rolling with yet another showing of solid sales numbers, and marginal inventory gain. Buyer activity wained slightly this week, but seemed to catch momentum as the week progressed to cap the week with a decent result. Still quite a number of price changes that occurred this week, which means not everything is flying off the shelf or enjoying the frenzied activity some communities and price points are. Listings coming off the market in the expired/cancelled fashion are still slightly down this week as well, but that doesn't really surprise me given the market conditions. Despite these constantly positive week to week sales reports, the absorption rate actually climbed a week, which caught me a bit off guard. Still, it is reporting that much lower than last year, and I have a suspicion that the rate will likely drop a few more weeks before making its climb back to the seasonal trend. Right in the thick of it now, so make sure you stay tuned to keep a track on the highs and lows of our real estate market here in Halifax. Thanks for stopping by!
The Weekly Adogtable!
Meet Audrey! This beautiful bluenose-pitty mix is looking for a new family to play fetch with. Audrey is a very bubbly girl and loves to meet new people - you can spot her bum wiggling from a mile away! She looks forward to hanging out on the couch, receiving belly rubs and sneaking in all the kisses she can get (if you let her).
Audrey is on a weight loss diet and requires a family that is committed to helping her shed a few pounds.
Her ideal home would be one of the following:
-Free of other animals (she is very anxious around cats and other dogs; will politely say hello, but can be dominate)
-Active, yet laid back when the time is right
-No children please as she can be quite pushy and grabby with her toys
If you'd like to meet Audrey, come on by during adoption hours; 12-4pm daily.
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, 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!
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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