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 January 17th - January 23rd, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 193 (220, 223) *263
Sold: 92 (72, 64) *78
Sale To Listing Ratio: 48% (33%, 29%) *30%
Price Changes: 61 (90, 86) *116
Listings that went conditional/pending: 120 (122, 105) *139
Expired/Cancelled/Withdrawn: 88 (87, 94) *75
Total Active Halifax/Dartmouth Inventory: 3,122 (3,139, 3,133) +3,534
Absorption Rate in weeks: X (X, X) *X
Single Family Home Stats
Active Single Family Home: 1,670 (1,692, 1,683) *1,937
Average Single Family Home List Price: $329,895 ($378k, $359k) *$297k
Average Single Family Home Selling Price: $296,825 ($366k, $350k) *$275k
Single Family Home Sale to List Ratio This Week: 90% (97%, 98%) *93%
Median Single Family Home List Price (6 mo): $284,900 ($285k, $285k)*$275k
Median Single Family Home Sold Price (6 mo):$279,00 ($280k, $279k)*$269k
Average Days on Market Single Family Home: 65 (76, 108) *108
Active Condos: 246 (249, 253) *349
Average Condo Listing Price: $254,900 ($285k, $236k) *$276k
Average Condo Selling Price: $240,750 ($284k, $229k) *$267k
Condo Sale to List Ratio This Week: 95% (99%, 97%) 97%
Median Condo List Price (6 mo): $239,450 ($239k, $235k) *$240k
Median Condo Sold Price (6 mo): $230,250 ($230k, $225k) *$239k
Average Days on Market Condos: 77 (114, 112) *139
Active Vacant Lots: 945 (936, 936) *918
Full steam ahead!! Definitely no indications that our market here in Halifax any intention of slowing, in fact, it looks like more coal is being tossed on the fire! In unusual fashion, inventory actually reduced this week, that's right...reduced! Usually, this is something we might see from time to time as an anomaly, or possibly the end/first of the month listing renew/expiry exchange, but we are 3/4 the way through the month, so its a bit odd. The contributing factors to this reduction was an above average sales week (for the time of year), coupled with a lower than average addition of new listings. With listings flying of the market at this time, it wasn't much of a surprise to see the average time from list to sale shrink to new lows as well. Not very good news for the buyers out there, or those just about to step into the ring. Good news for sellers in several key areas though, who still seem quite surprised by the markets current environment. Strap in your seatbelts and hold on tight, I think this year is going to be a wild ride! Make sure to stop in to the blog to stay on top of things, and don't hesitate to reach out if you have any questions about buying or selling in the current market by clicking HERE. Thanks for stopping by!
The Weekly Adogtable
Meet Cali! Cali is a ~5 year old spayed female amstaff/shepard mix.
She would prefer a home with children 12 years and older.
Obedience is an optional choice for her new owner(s).
Cali needs to go to an only animal home.
Are you looking for a high energy dog? Then Cali is the dog for you. She loves to play fetch and just about any other activity that keeps her busy. Cali would like to spend most of her time with someone around due to her separation anxiety.
She is a very sweet, intelligent girl looking for an active home which she can share with her new "parents" and just her.
If you want to take Cali for a walk, you will be surely making her day!
This "cuddly companion" is available through the NSSPCA, 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah