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 April 11th-18th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 359 (363, 408, 291, 260) *378
Sold: 232 (168, 147, 155, 139) *121
Sale To Listing Ratio: 64% (46%, 36%, 53%, 55%) *32%
Price Changes: 135 (141, 143, 105, 69) *143
Listings that went conditional/pending: 250 (246, 214, 190, 161) *163
Expired/Cancelled: 73 (54, 161, 67, 75, 61) *179
Total Active Halifax/Dartmouth Inventory: 3,233 (3,221, 3,204, 3,181, 3,147) +3,904
Absorption Rate in weeks: 18 (21, 22, 23, 24) *32
Single Family Home Stats
Active Single Family Home: 1,798 (1,802, 1,780, 1,720, 1,688) *2,211
Average Single Family Home List Price: $322,508 ($328k,$366k,$381k,$365k) *$342k
Average Single Family Home Selling Price: $315,547 ($337k,$356k,$370k,$258k) *$333k
Single Family Home Sale to List Ratio This Week: 98% (103%, 97%,98%) *97%
Median Single Family Home List Price (6 mo): $289,900 ($290k,$290k,$290k)*$280k
Median Single Family Home Sold Price (6 mo):$283,650 ($285k,$284k,$280k)*$272k
Average Days on Market Single Family Home: 60 (54, 71, 62, 68) *82
Active Condos: 252 (251, 248, 255, 254) *370
Average Condo Listing Price: $250,781 ($319k, $314k, $252k, $237k) *$290k
Average Condo Selling Price: $241,631 ($323k, $304k, $246k, $228k) *$281k
Condo Sale to List Ratio This Week: 96% (101%, 97%, 97%, 96%) 97%
Median Condo List Price (6 mo): $249,900 ($248k, $248k, $240k, $239k) *$239k
Median Condo Sold Price (6 mo): $245,000 ($241k, $241k, $232k, $230k) *$232k
Average Days on Market Condos: 69 (76, 60, 82, 54) *167
Active Vacant Lots: 926 (927, 923, 948, 938) *979
Just look at all that inventory.... if only there was font for sarcasm haha. We should be shooting straight up as we ascend the inventory ladder right now, but it seems the market has a different idea. Now, there was a marginal gain this week, but definitely not the increases that we are used to seeing week to week around this time of year. It is also certainly against the grain for single family home numbers to take a slide around this time, but here we are. What we are used to seeing, however, is strong sales. This week was no exception and has the strongest performance of the year so far with a whopping 232 sales, which also crested the April norm as well. Looks like we have more of that on way though, with a solid 250 properties that received and accepted offers this week. All of that, and we aren't even in the peak of the season yet! The incredible thing this week is the absorption rate, which dropped another 3 weeks off the top. Coming close to half of what it was at this time last year, which is an incredible event for the Halifax market. Exciting times indeed! Stay tuned to the blog to stay up to date, and thank for stopping by!
The Weekly Adogtable!
Sweet Annie is a bit timid at first but it only takes her a minute to warm up and she becomes a silly, playful goofball. When left alone Annie has been known to eat things that upset her belly. To be specific, socks! Annie required surgery to remove a sock she had ingested so her new home would need to be mindful of what they leave lying around. Poor Annie was quite sick but would likely make the same mistake again if given the opportunity. Crate training would be recommended to keep her and your belongings safe. Annie would love to go to a home with children no younger than 12 years of age and no other dogs.
This "cuddly companion" is available through the Nova Scotia SPCA, 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah