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 February - March 7th 28th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 330 (189, 218, 248, 250) *365
Sold: 126 (111, 129, 114, 119) *135
Sale To Listing Ratio: 38% (59%, 59%, 46%, 48%) *37%
Price Changes: 100 (82, 81, 80, 103) *127
Listings that went conditional/pending: 165 (167, 135, 153, 133) *169
Expired/Cancelled/Withdrawn: 102 (54, 69, 75, 168) *172
Total Active Halifax/Dartmouth Inventory: 3,150 (3,075, 3,117, 3,096, 3,074) +3,686
Absorption Rate in weeks: 26 (26, 27, 30, 33) *32
Single Family Home Stats
Active Single Family Home: 1,674 (1,629, 1,656, 1,657, 1,671) *2,010
Average Single Family Home List Price: $344,051 ($334k,$313k,$331k,$324k) *$349k
Average Single Family Home Selling Price: $337,433 ($326k,$303k,$324k,$315k) *$336k
Single Family Home Sale to List Ratio This Week: 98% (98%, 97%, 98%, 97%) *97%
Median Single Family Home List Price (6 mo): $289,900 ($290k,$286k,$290k,$289k)*$279k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 78 (69, 79, 66, 76) *93
Active Condos: 298 (259, 261, 254, 242) *370
Average Condo Listing Price: $225,900 ($229k, $266k, $293k, $307k) *$277k
Average Condo Selling Price: $215,000 ($221k, $256k, $285k, $295k) *$266k
Condo Sale to List Ratio This Week: 95% (95%, 96%, 97%, 96%) 96%
Median Condo List Price (6 mo): $239,900 ($240k, $240k, $240k, $240k) *$239k
Median Condo Sold Price (6 mo): $230,000 ($231k, $232k, $232k, $230k) *$233k
Average Days on Market Condos: 108 (93, 71, 60, 102) *80
Active Vacant Lots: 932 (911, 920, 918, 900) *980
And we're off! Finally! All it took was a snow storm for the inventory to take off! I'm sure that wasn't planned, it just so happened that mother nature had other ideas last week. All tracked products increased this week, with condo's making the largest percentage gain. Despite the frigid temps and hazardous conditions, properties moved this week without much variation from the previous few weeks. If anything, there was actually a few more than we saw at the beginning of February, which just goes to show that sometimes even blizzards can't halt progress. Single largest addition week of the year so far, but those listings were met with a positive reception and open arms of buyers, especially those who have been looking for a while. The expired/cancelled pool is still quite low this week, but we haven't hit the Spring market yet and it's still quite early in the year, so the expectation is that those numbers will remain low as long as the market performs the way it has been. With the Winter finally winding down, the Spring market is next up on the docket, and I for one am interested to see which direction things go. Stay tuned to stay up to date, and thanks for stopping by!
The Weekly Adogtable!
Yvor is a typical bull dog but with an adorable quirky neurological condition that makes his mannerisms seem uncoordinated. Weighing only 42 lbs, this boy is petite but makes up for it in personality. Good with cats and dogs with proper introductions. Has been around horses and kids. Suspected food allergy from being fed poor diet and needs a good teeth cleaning.
Loly is a female aged 6 years old with medium energy. She is spayed, microchipped , vaccinated and on parasite prevention. Loving temperament and thinks she is a lap dog. Pet free clicker and positive reinforcement trained. No pets or kids for Loly as she is anxious. Can be head strong but we figured out she will work for her food.
Yvor has a barely detectable heart murmur (2/6) like lots of bull dogs and boxers typically have. He is learning basic obedience and is happy-go-lucky pup that just wants to meet everyone he sees.
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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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