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 October 4th - 11th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 227 (272, 285, 280, 227) *233
Sold: 108 (138, 174, 167, 141) *131
Sale To Listing Ratio: 48% (51%, 61%, 60%, 62%) *56%
Price Changes: 173 (174, 172, 163, 161) *166
Listings that went conditional/pending: 157 (154, 164, 176, 165) *109
Expired/Cancelled/Withdrawn: 88 (274, 127, 111, 89) *117
Total Active Halifax/Dartmouth Inventory: 3,881 (3,894, 4,030, 4,026, 4,031) +4,519
Absorption Rate in weeks: 26 (25, 27, 28, 29) *33
Single Family Home Stats
Active Single Family Home: 2,171 (2,186, 2,258, 2,283, 2,288) *2,753
Average Single Family Home List Price: $318,008 ($346k,$308k,$303k,$336k) *$354k
Average Single Family Home Selling Price: $306,450 ($338k,$299k,$295k,$323k) *$335k
Single Family Home Sale to List Ratio This Week: 96% (98%, 97%, 97%, 96%) *95%
Median Single Family Home List Price (6 mo): $289,900 ($290k,$290k,$290k,$290k)*$275k
Median Single Family Home Sold Price (6 mo):$283,000 ($283k,$282k,$283k,$283k)*$270k
Average Days on Market Single Family Home: 81 (70, 53, 56, 67) *78
Active Condos: 321 (319, 329, 328, 330) *413
Average Condo Listing Price: $224,950 ($244k, $213k, $323k, $254k) *$263k
Average Condo Selling Price: $221,482 ($238k, $206k, $314k) *$253k
Condo Sale to List Ratio This Week: 99% (97%, 97%, 97%, 96% 96%
Median Condo List Price (6 mo): $226,450 ($230k, $230k, $230k, $230k) *$245k
Median Condo Sold Price (6 mo): $220,000 ($221k, $221k, $221k, $221k) *$236k
Average Days on Market Condos: 149 (112, 79, 105, 122) *121
Active Vacant Lots: 1,045 (1,043, 1,071, 1,067, 1,069) *1,111
A few notes right off the top; definitely a lot less products pulling from the market, and many more listings that changed to conditional/pending this week compared to last year this time. Some of the other stats are reporting averagely, and some are actually reporting a little lacklustre, like sales and price changes. Overall inventory took a slight reduction this week, and is still a good step on the bulk of last year, but this was the time that a balanced market started to embrace several areas of the region. Since then, the market has improved little by little, and we are now experiencing areas that are seeing a sellers market. Beginning of September was almost the turning point in the red hot market up to that point, and although activity remains steady in the Fall so far, the first three quarters of the market year certainly had the accelerator pinned to the floor. Still lots of time left though, and as we approach the Winter (already), all eyes focus to the horizon in anticipation of the cresting market. The blog has you covered, so stay tuned and stay informed! Thanks for stopping by, and don't forget to hit the like bottom at the bottom of the post!
The Weekly Adogtable!
Schooner's personality is as big as he is! He's a happy-go-lucky dog that loves to play and be around people. He's one smart cookie too! He knows many commands but definitely needs a family that can teach him his manners and keep him active and busy. With the right leadership, he's sure to be a great walking or hiking buddy.
Schooner's ideal home:
- With children over the age of 12
- With no other animals
- Obedience training mandatory upon adoption
This "cuddly companion" is available through Homeward Bound City Pound, 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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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