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 22nd - 29th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 245 (286, 273, 270, 302) *294
Sold: 158 (209, 154, 198, 205) *147
Sale To Listing Ratio: 65% (73%, 56%, 73%, 68%) *50%
Price Changes: 115 (168, 123, 167, 205) *158
Listings that went conditional/pending: 194 (198, 198, 204, 220) *179
Expired/Cancelled: 67 (89, 128, 134, 94) *142
Total Active Halifax/Dartmouth Inventory: 3,194 (3,216, 3,257, 3,263, 3,323) +4,194
Absorption Rate in weeks: 18 (17, 18, 17, 17) *26
Single Family Home Stats
Active Single Family Home: 1,775 (1,816, 1,852, 1,858, 1,888) *2,392
Average Single Family Home List Price: $327,214 ($332k,$362k,$338k,$355k) *$318k
Average Single Family Home Selling Price: $320,540 ($324k,$354k,$328k,$345k) *$308k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $304,900 ($305k,$304k,$300k,$300k)*$289k
Median Single Family Home Sold Price (6 mo):$300,000($302k,$300k,$290k,$290k)*$281k
Average Days on Market Single Family Home: 53 (58, 55, 51, 51) *69
Active Condos: 203 (196, 210, 213, 213) *357
Average Condo Listing Price: $280,027 ($287k, $249k, $250k, $267k) *$287k
Average Condo Selling Price: $275,566 ($278k, $243k, $244k, $260k) *$282k
Condo Sale to List Ratio This Week: 98% (97%, 98%, 97%, 97%) 97%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k
Median Condo Sold Price (6 mo): $242,750 ($240k, $240k, $241k, $241k) *$221k
Average Days on Market Condos: 114 (60, 50, 38, 38)*118
Active Vacant Lots: 946 (937, 939, 937, 947) *1,084
Although is was a sleepy week for sales and new listings, back to school supplies weren't the only thing being shopped for as almost 200 properties received and accepted offers. Not a lot of expired or cancelled listing this week either, which is likely because listing contracts are usually set to expire at the very end/beginning of the month. I anticipate that to change next week when we see a good chunk of inventory retreat from the market as school ramps up and some sellers focus changes. Still a good market for sellers in most areas of the HRM though, so we might see what little inventory is left wait it out. Values overall are holding steady, and the only real change this week is that the six month median sale prices on single family homes dipped slightly. The absorption rate gained a week, but I have a feeling that's a temporary thing. There should be another sale push mid September once things cool off a bit, then it's the slow taper to minimum activity months of the Fall. You never know though, this year has been anything but predictable, so stay tuned to the blog to stay on top of things! Thanks for stopping by!
The Weekly Adogtable!!
Are you looking for a sweet older gal with a zest for life? Diva is the ideal walking buddy and couch companion. She'll happily hit up the walking trails and explore all of your favourite outdoor spots (and maybe even help you discover some new ones)! Slowing down isn't on her to-do list, as Diva has lots of energy to spare. She'll keep you on your toes and challenge you to keep up with a goofy grin on her face!
Diva would be best suited to a home:
-Without other animals (this diva has a bit of an attitude and lacks her doggy manners)
-With children over 10
This "cuddly companion" is available through Homeward Bound City Pound 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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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