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 June 20th - 27th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 357 (340, 343, 335, 336) *306
Sold: 221 (205, 206, 234, 225) *217
Sale To Listing Ratio: 62% (60%, 60%, 70%, 67%) *71%
Price Changes: 167 (173, 164, 161, 174) *190
Listings that went conditional/pending: 272 (254, 256, 231, 260) *220
Expired/Cancelled: 66 (57, 82, 137, 72) *80
Total Active Halifax/Dartmouth Inventory: 3,387 (3,381, 3,366, 3,363, 3,409) +4,273
Absorption Rate in weeks: 16 (16, 15, 15, 16) *21
Single Family Home Stats
Active Single Family Home: 1,907 (1,904, 1,905, 1,886, 1,894) *2,479
Average Single Family Home List Price: $344,203 ($349k,$350k,$346k,$350k) *$335k
Average Single Family Home Selling Price: $337,339 ($342k,$345k,$337k,$343k) *$323k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 98%) *96%
Median Single Family Home List Price (6 mo): $299,900 ($300k,$300k,$300k,$300k)*$290k
Median Single Family Home Sold Price (6 mo):$298,000 ($296k,$295k,$295k,$296k)*$280k
Average Days on Market Single Family Home: 58 (59, 44, 54, 51) *58
Active Condos: 248 (250, 246, 252, 261) *424
Average Condo Listing Price: $294,544 ($287k, $270k, $292k, $282k) *$239k
Average Condo Selling Price: $285,479 ($277k, $255k, $288k, $280k) *$229k
Condo Sale to List Ratio This Week: 97% (97%, 95%, 99%, 99%) 96%
Median Condo List Price (6 mo): $249,900 ($250k, $249k, $250k, $250k) *$238k
Median Condo Sold Price (6 mo): $240,000 ($240k, $240k, $240k, $241k) *$228k
Average Days on Market Condos: 67 (66, 45, 72, 50)*87
Active Vacant Lots: 955 (948, 943, 949, 965) *998
Small surge of properties made it to market this week, which I'm sure will be well received by shoppers on the market. If you are currently a Buyer in this market, you have probably noticed that the throttle has let off a bit, and you may even find yourself with a few options! Of course, there are still areas of the city that are highly competitive, but there does seem to be a bit of pressure relief at this current junction. Still, lots of buyer activity this week, with 272 listings that received and accepted offers, which is quite above average than last year at this time. It's still pretty early to call, but this years Spring compared to last had its surge a bit earlier than last year, and because of this, we could be seeing a rebound market with a second market push. That, or the weary Buyers of the early Spring inferno market have returned to kinder market conditions to try again. Inventory did take a slight bump this week, which is another good thing for buyers, since more selection usually means less competition and more selection. Normally, the early Summer market is hit or miss, but it is usually the calm before the coming Fall market, so the next few months will lay the groundwork for what is to come. With the numbers being reported, the foot is still on the pedal, but keeping the speed limit. Stay tuned to see how the Summer turns out! Will it be market be like our current weather, or will it turn to the weather we are all hoping for? Thanks for stopping by!
The Weekly Adogtable!
Cherry is a ~5 year old spayed female amstaff mix.
She would prefer a home with children 10 years and older.
Obedience is optional for her new owner(s).
This sweet lady is more then ready to find a new home to call her own. Cherry is a playful girl, happy to entertain herself with toys and enjoys the company of other dogs. She is super affectionate and will make an amazing family friend. Cherry would love to go for a walk and give you the opportunity to fall in love with her.
This "cuddly companion" is available through The Nova Scotia SPCA, 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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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