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 15h - 22nd, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 286 (273, 270, 302, 322) *294
Sold: 209 (154, 198, 205, 181) *147
Sale To Listing Ratio: 73% (56%, 73%, 68%, 56%) *50%
Price Changes: 168 (123, 167, 205, 190) *158
Listings that went conditional/pending: 198 (198, 204, 220, 217) *179
Expired/Cancelled: 89 (128, 134, 94, 100) *142
Total Active Halifax/Dartmouth Inventory: 3,216 (3,257, 3,263, 3,323, 3,357) +4,194
Absorption Rate in weeks: 17 (18, 17, 17, 17) *26
Single Family Home Stats
Active Single Family Home: 1,816 (1,852, 1,858, 1,888, 1,903) *2,392
Average Single Family Home List Price: $331,944 ($362k,$338k,$355k, $326k) *$318k
Average Single Family Home Selling Price: $323,740 ($354k,$328k,$345k,$317k) *$308k
Single Family Home Sale to List Ratio This Week: 98% (98%, 97%, 97%, 98%) *97%
Median Single Family Home List Price (6 mo): $305,000 ($304k,$300k,$300k,$299k)*$289k
Median Single Family Home Sold Price (6 mo):$302,000($300k,$290k,$290k,$290k)*$281k
Average Days on Market Single Family Home: 58 (55, 51, 51, 37) *69
Active Condos: 196 (210, 213, 213, 223) *357
Average Condo Listing Price: $286,822 ($249k, $250k, $267k, $243k) *$287k
Average Condo Selling Price: $277,616 ($243k, $244k, $260k, $241k) *$282k
Condo Sale to List Ratio This Week: 97% (98%, 97%, 97%, 99.5%) 97%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k
Median Condo Sold Price (6 mo): $240,000 ($240k, $241k, $241k, $240k) *$221k
Average Days on Market Condos: 60 (50, 38, 38, 31)*118
Active Vacant Lots: 937 (939, 937, 947, 953) *1,084
Seems the Summer market has no plans on slowing down anytime soon! After a sleepy few weeks of market activity, things around here have certainly got interesting this month. As previously mentioned, Summer tends to slow down a bit and ignite the beginning of the annual reduction trend. Where we are seeing some of that trend in motion, there are variables that have caused a few raised eyebrows. For instance, sales (again) are significantly higher than last year at this time, and fell back in line with the previous weeks of reporting, and all this with a significantly lower inventory. Buyer activity is still solid as well, with a higher report than last year at this time, and eclipsing the absorption rate stats of last year. Overall, the market is just in a better place than last year, and last year was a good year (for Sellers). There has been a few communities easing up on elusive entry, but the main hub (Peninsular Halifax and select areas of Bedford and Dartmouth) are still quite hot. Not really a surprise, but there seems to be a few more vacation, recreational properties, and anything fronting a body of water as well. I call this the "summertime effect", which is basically the thought that people want to relax on vacation and cool off when sun is shining, for the Summer, or maybe even year round. Hopefully, you are having a nice Summer as well, and I thank you for stopping by! Stay tuned to the blog to keep up with all things real estate, and don't hesitate to reach out if you have a question, or need help buying or selling a property!
The Weekly Adogtable!!
Sweet Keana was surrendered as her family had no more time for her. She is very gentle and affectionate with those she knows won't hurt her, and is shy around strangers and loud noises, although she adapts quite quickly. Keana is fearful of other dogs as she was attacked in the past. Sweet Keana is not vocal and is great in the house. Her family will need to be sensitive to her delicate nature to help her overcome her insecurities. Keana has never tried to snap or growl at anyone, but gives lots of calming signals when uncertain.
This "cuddly companion" is available through Good Bones Dog Rescue, 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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Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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