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 25th - May 2nd, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 378 (329, 359, 363, 408) *376
Sold: 197 (206, 232, 168, 147) *169
Sale To Listing Ratio: 52% (63%, 64%, 46%, 36%) *45%
Price Changes: 171 (139, 135, 141, 143) *204
Listings that went conditional/pending: 273 (186, 250, 246, 214) *189
Expired/Cancelled: 121 (69, 73, 54, 161, 67) *87
Total Active Halifax/Dartmouth Inventory: 3,268 (3,312, 3,233, 3,221, 3,204) +3,989
Absorption Rate in weeks: 16 (18, 18, 21, 22) *23
Single Family Home Stats
Active Single Family Home: 1,828 (1,860, 1,798, 1,802, 1,780) *2,309
Average Single Family Home List Price: $355,938 ($336k,$323k,$328k,$366k) *$340k
Average Single Family Home Selling Price: $347,606 ($329k,$315k,$337k,$356k) *$330k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 103%, 97%) *97%
Median Single Family Home List Price (6 mo): $294,900 ($290k,$290k,$290k)*$285k
Median Single Family Home Sold Price (6 mo):$287,000 ($283k,$284k,$285k)*$278k
Average Days on Market Single Family Home: 53 (65, 60, 54, 71) *64
Active Condos: 258 (257, 252, 251, 248) *379
Average Condo Listing Price: $274,239 ($243k, $251k, $319k, $314k) *$225k
Average Condo Selling Price: $266,200 ($236k, $241k, $323k, $304k) *$217k
Condo Sale to List Ratio This Week: 97% (97%, 96%, 101%, 97%) 96%
Median Condo List Price (6 mo): $247,500 ($246k, $250k, $248k, $248k) *$235k
Median Condo Sold Price (6 mo): $241,000 ($241k, $245k, $241k, $241k) *$225k
Average Days on Market Condos: 60 (65, 69, 76, 60) *54
Active Vacant Lots: 931 (936, 926, 927, 923) *966
And just like that, we are back to reducing inventory levels...again. After a a few slow trickle weeks of products causing a slight increase in the inventory, this weeks activity slipped the overall count back under the 3,300 mark. There is the end/beginning of the month listing churn factor, but the slight addition of this weeks products didn't seem to stand a chance against the factors clipping the inventory from the market this week. Sales reported decently, but the amount of properties that changed to conditional was the star of the show this week. No doubt, that was one of the largest contributing components of the reduction, amongst others, and without hitting the peak of the Spring market I can only wonder where we go from here. It almost felt like there was a calm over the market in the last couple of weeks, but just like that it ramped back up again, double time! Values across the board reported higher than average, and the surge of buyers has caused another reduction of 2 weeks from the absorption rate, so things are rapidly changing. I talked about how the market landscape was a challenge for buyers, and that was months ago. It has changed that much more at this point, which I cannot say it's any better for buyers, in fact, it's even more challenging. The peak is on its way, so stay tuned to the blog to keep tabs on the ever changing landscape of the market here in Halifax. Thanks for stopping by!
The Weekly Adogtable!
Kirby is a sweet love bug looking for a furver home
He was roaming and may have been used in the past as a guard dog. He likes to barks to warn you when someone is near but has been friendly with everybody that he's met.
Kirby is is searching for love all the time and wants to be close to you. He enjoys showing off his tricks sit, lie down, paw x2 and speak, spin and is eager to learn more. He also loves catching treats and is fantastic at catching just about anything thrown his way, or any flies that come too close. His other favorite pastime is to join you in the car for a drive. He loves it!
He would be wonderful for someone who loves to hike or walk as he walks nicely on leash with a halti or gentle leader. He also loves to play fetch and will bring it back every time and drop it without you having to ask. Another favourite game is playing ball with his paws, like soccer. He also doesn't mind getting a bath and has been to the spa (Pet Valu) to get all nice for his future family.
Kirby would like to be the only pet in the home and live with children 12+. If you think you'd be a good fit for this fella, apply today at www.marleyshope.com.
This "cuddly companion" is available through the Marleys Hope, 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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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