The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Thursdays)
tHalifax (HRM) Residential Statistic Update for the Week of July 25th - August 1st, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 270 (302, 322, 333, 333) *309
Sold: 198 (205, 181, 197, 208) *176
Sale To Listing Ratio: 73% (68%, 56%, 60%, 63%) *57%
Price Changes: 167 (205, 190, 161, 167) *198
Listings that went conditional/pending: 204 (220, 217, 242, 201) *219
Expired/Cancelled: 134 (94, 100, 103, 192) *183
Total Active Halifax/Dartmouth Inventory: 3,263 (3,323, 3,357, 3,341, 3,348) +4,195
Absorption Rate in weeks: 17 (17, 17, 16, 16) *24
Single Family Home Stats
Active Single Family Home: 1,858 (1,888, 1,903, 1,883, 1,877) *2,409
Average Single Family Home List Price: $337,756 ($355k, $326k,$321k,$334k) *$315k
Average Single Family Home Selling Price: $328,238 ($345k,$317k,$316k,$329k) *$305k
Single Family Home Sale to List Ratio This Week: 97% (97%, 98%, 99%, 99%) *97%
Median Single Family Home List Price (6 mo): $299,950 ($300k,$299k,$300k,$300k)*$289k
Median Single Family Home Sold Price (6 mo):$290,000 ($290k,$290k,$298k,$299k)*$281k
Average Days on Market Single Family Home: 51 (51, 37, 51, 70) *88
Active Condos: 213 (213, 223, 225, 242) *381
Average Condo Listing Price: $249,952 ($267k, $243k, $279k, $308k) *$211k
Average Condo Selling Price: $244,310 ($260k, $241k, $271k, $301k) *$208k
Condo Sale to List Ratio This Week: 97% (97%, 99.5%, 97%, 98%) 98%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k
Median Condo Sold Price (6 mo): $241,000 ($241k, $240k, $221k, $241k) *$223k
Average Days on Market Condos: 38 (38, 31, 79, 56)*100
Active Vacant Lots: 937 (947, 953, 949, 947) *1,055
Inventory is on the decline! By the time August hits, we are usually in a consistent inventory decline trend, and this year is really no different despite the sizzling market. It was a higher than average reduction this week, but Summer months are notoriously sluggish, so the season is just following the norm. Some of the contributing factors include a streak busting sub 300 new listing addition, slightly lower buyer activity, elevated expired/cancelled listings (higher cancelled listings than normal, which I found interesting), and the overall trend of the season. Although the 6 month value averages had a very small increase, the weekly value rates reported a bit lower than last week as well. Bit of a sleepy time of year, but I suppose it's good to catch your breath at some point. When I say sleepy, the activity is still higher than previous years, by a lot, and just take a look at that a sales to list ratio. So the foots off the gas slightly, but no one seems to be pumping the breaks anytime soon. Thanks for stopping by!
The Weekly Adogtable!!
Oliver was found as a stray that is initially reserved of strangers. His personality is so incredibly sweet and curious, and his vocal side is enough to make you laugh. He can be destructive (puppy behavior) but not to worry, he is kennel trained. He is playful with toys, and seems OK with dogs, but will test more to be sure. He exhibits typical puppy behavior such as jumping on people and pulling on leash but with a little love and guidance these behaviors are easily curbed. It helps that he is so treat motivated!
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