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 September 27th - October 4th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 272 (285, 280, 227, 208) *315
Sold: 138 (174, 167, 141, 126) *124
Sale To Listing Ratio: 51% (61%, 60%, 62%, 61%) *40%
Price Changes: 174 (172, 163, 161, 143) *190
Listings that went conditional/pending: 154 (164, 176, 165, 135) *162
Expired/Cancelled/Withdrawn: 274 (127, 111, 89, 201) *301
Total Active Halifax/Dartmouth Inventory: 3,894 (4,030, 4,026, 4,031, 4,027) +4,500
Absorption Rate in weeks: 25 (27, 28, 29, 27) *32
Single Family Home Stats
Active Single Family Home: 2,186 (2,258, 2,283, 2,288, 2,287) *2,750
Average Single Family Home List Price: $345,978 ($308k,$303k,$336k,$333k) *$289k
Average Single Family Home Selling Price: $337,508 ($299k,$295k,$323k,$323k) *$277k
Single Family Home Sale to List Ratio This Week: 98% (97%, 97%, 96%, 97%) *96%
Median Single Family Home List Price (6 mo): $289,900 ($290k,$290k,$290k,$289k)*$275k
Median Single Family Home Sold Price (6 mo):$282,900 ($282k,$283k,$283k,$282k)*$270k
Average Days on Market Single Family Home: 70 (53, 56, 67, 66) *94
Active Condos: 319 (329, 328, 330, 331) *407
Average Condo Listing Price: $244,400 ($213k, $323k, $254k, $256k) *$294kk
Average Condo Selling Price: $237,830 ($206k, $314k, $244k) *$281k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 96%, 97%) 96%
Median Condo List Price (6 mo): $229,900 ($230k, $230k, $230k, $230k) *$245k
Median Condo Sold Price (6 mo): $221,000 ($221k, $221k, $221k,$223k) *$236k
Average Days on Market Condos: 112 (79, 105, 122, 74) *115
Active Vacant Lots: 1,043 (1,071, 1,067, 1,069, 1,067) *1,106
Dropping like flies! It is a usual event for the inventory to start dropping off at an accelerated rate, but with the way the market has been this year, I was thinking things may have been different. Business as usual this week however, as the market falls into annual trend. Speaking of trend, there seems to be an activity falloff right before the Thanksgiving long weekend. After a couple weeks of sale surge, we fell a bit short this week, and if the trend holds true, then this lesser report should repeat next week. It appears that a number of properties decided to throw in the towel this week as well, which was contributing factor to the inventory reduction. It is the end of the month engagement/renewal time, and as we approach the end of the year, more and more sellers will want to reevaluate a property that has not sold and decide to keep in the game, or wait it out until the market can absorb their property. We still have quite the edge on last years market though, with much less inventory, an impressive absorption rate, increased values, and shorter time on market. I think the market still has a few surprises left this year, so stay tuned to find out if that is the case! Thanks for stopping by, and don't forget to hit the LIKE button at the end of the post!
The Weekly Adogtable!
Meet Shyla! Very petite terrier mix Name: Shyla Age: 14 months old Sex: female Needs a spay and chip shortly on us. Up to date on all vaccines Size: petite Color: black and white and some brindle Weight: 25-30 lbs Temp: sweet and very loving and mischievous. Housetrained Loves her kong and needs strong chew toys Cats :unknown Dogs:yes Kids: yes No fears
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
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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