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 May 30th - June 6th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 335 (336, 377, 351, 401) *378
Sold: 234 (225, 227, 203, 209) *218
Sale To Listing Ratio: 70% (67%, 60%, 58%, 52%) *58%
Price Changes: 161 (174, 145, 181, 177) *246
Listings that went conditional/pending: 231 (260, 266, 232, 261) *198
Expired/Cancelled: 137 (72, 61, 56, 62) *173
Total Active Halifax/Dartmouth Inventory: 3,363 (3,409, 3,410, 3,375, 3,300) +4,249
Absorption Rate in weeks: 15 (16, 16, 17, 16) *21
Single Family Home Stats
Active Single Family Home: 1,886 (1,894, 1,904, 1,897, 1,878) *2,478
Average Single Family Home List Price: $345,604 ($350k,$348k,$367k,$350k) *$333k
Average Single Family Home Selling Price: $338,620 ($343k,$342k,$359k,$344k) *$325k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 98%) *98%
Median Single Family Home List Price (6 mo): $299,900 ($300k,$300k,$299k, $299k)*$289k
Median Single Family Home Sold Price (6 mo):$295,000 ($296k,$295k,$292k,$290k)*$280k
Average Days on Market Single Family Home: 54 (51, 52, 44, 59) *50
Active Condos: 252 (261, 267, 260, 261) *422
Average Condo Listing Price: $292,004 ($282k, $250k, $317k, $276k) *$321k
Average Condo Selling Price: $288,325 ($280k, $256k,$311k, $272k) *$310k
Condo Sale to List Ratio This Week: 99% (99%, 98%, 98%, 98%) 97%
Median Condo List Price (6 mo): $249,450 ($250k, $246k, $248k, $245k) *$238k
Median Condo Sold Price (6 mo): $239,450 ($241k, $240k, $241k, $239k) *$226k
Average Days on Market Condos: 72 (50, 37, 43, 46) *60
Active Vacant Lots: 949 (965, 955, 943, 934) *978
Have we peaked so soon? For the second straight week, inventory took a nosedive, which is a bit sooner than normal if this trend holds. This weeks reduction had a significantly larger drop than that of the previous week, and contributed to the widening of the inventory gap from this time last year to now. Looks like there was a good amount of listings that expired this week, which certainly helped, but the strong sales and lack of new products also helped things along. With the lack of new inventory and strong sales week, the sales to list ratio hit a high of 70%! Sometimes you see anomaly weeks throughout the year on a holiday week, or unexplained occurrence, but hardly ever does the Spring market have such factors to call it a fluke. Speaking of the lacking inventory impact, the already basement numbers of the sales to list ratio bottomed out another week to 15. The Spring has been holding somewhat steady to 16 weeks over the full ramp up, but the continued evaporation of products from the market is really having an impact, leaving no statistic untouched. Interesting times so far this year, so make sure you stay tuned to the blog to keep up to date with the lates and greatest regarding our real estate market! Thanks for stopping by!
The Weekly Adogtable!
Lucky was anxious, shaking and put his tail between his legs while at the pound. He is initially fearful of strangers, cats, and sudden noises but is very sweet and affectionate once he knows you are safe. Lucky can be fun, playful, and excitable but only if he feels safe.
Lucky can get excited on walks, so will need leash work and general obedience training to help him overcome his insecurities and build his confidence in what is expected of him and generally how to be a dog. No resource guarding and takes treats gently. Lucky is learning that people are not all bad and his family will need to be sensitive to his past. We suspect he was abused.
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