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 23rd - January 31st, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 175 (193, 220, 223) *199
Sold: 94 (92, 72, 64) *123
Sale To Listing Ratio: 54% (48%, 33%, 29%) *62%
Price Changes: 75 (61, 90, 86) *84
Listings that went conditional/pending: 133 (120, 122, 105) *131
Expired/Cancelled/Withdrawn: 98 (88, 87, 94) *148
Total Active Halifax/Dartmouth Inventory: 3,091 (3,122, 3,139, 3,133) +3,521
Absorption Rate in weeks: 38 (X, X, X) *X
Single Family Home Stats
Active Single Family Home: 1,648 (1,670, 1,692, 1,683) *1,891
Average Single Family Home List Price: $356,742 ($330k, $378k, $359k) *$308k
Average Single Family Home Selling Price: $349,353 ($297k, $366k, $350k) *$298k
Single Family Home Sale to List Ratio This Week: 98% (90%, 97%, 98%) *97%
Median Single Family Home List Price (6 mo): $288,500 ($285k, $285k, $285k)*$275k
Median Single Family Home Sold Price (6 mo):$280,000 ($270k, $280k, $279k)*$268k
Average Days on Market Single Family Home: 77 (65, 76, 108) *91
Active Condos: 241 (246, 249, 253) *348
Average Condo Listing Price: $231,522 ($255k, $285k, $236k) *$266k
Average Condo Selling Price: $227,822 ($241k, $284k, $229k) *$263k
Condo Sale to List Ratio This Week: 98% (95%, 99%, 97%) 99%
Median Condo List Price (6 mo): $239,900 ($240k, $239k, $235k) *$239k
Median Condo Sold Price (6 mo): $232,000 ($230k, $230k, $225k) *$235k
Average Days on Market Condos: 120 (77, 114, 112) *83
Active Vacant Lots: 942 (945, 936, 936) *954
Yet another reduction week, this time it's even more! Now, we aren't taking huge chunks of inventory, but even seeing 31 less products on the market after a week in January is a bit of a surprise. It appears as though single family homes were mostly responsible with the reduction, which is no surprise as things continue to fly off the shelves. Even though weather conditions continue to degrade, it doesn't appear as if it's bad enough to stop sellers from getting on the market, or buyers from getting out there to have a look. That being said, we haven't had the annual snow smash (yet), which may or may not slow the momentum of the market. It just seems that when the snow dump does finally come around, sellers get a bit more hesitant to show their home, and buyers get less interested in trudging around it. It also makes it harder to gauge exterior condition of a property, and for inspectors to take a really detailed look. Snow covers things like shingles, foundations, garbage, and hides other possible issues that may have been discovered without it. It does however help discover possible water intrusion issues, but a good rain storm in the middle of the Summer could accomplish the same thing. In any case, it hasn't arrive yet, and I know personally, I wouldn't mind if it just stayed away! Stay tuned to keep up to date with our ever changing market, and thanks for stopping by!
The Weekly Adogtable
Meet Prince Charming. This big boy is a giant sweetheart and will melt your heart.
He does like his toys a little too much and will need to work on his sharing and because of this he will need a family with children 10yrs and older.
Due to his "extra" sized body, he does need to work on his figure and get ready for spring.
Prince is a ~6 year old neutered male Rottweiler/Shepard mix.
He would prefer a home with children 10 years and older.
Obedience is an optional choice for his new owner(s).
Prince needs to live in a home with no cats.
This "cuddly companion" is available through the NSSPCA, 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