The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of VIewPoint Realty (Thursdays)
tHalifax (HRM) Residential Statistic Update for the Week of July 18th - 25th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 302 (322, 333, 333, 357) *341
Sold: 205 (181, 197, 208, 221) *163
Sale To Listing Ratio: 68% (56%, 60%, 63%, 62%) *48%
Price Changes: 205 (190, 161, 167, 167) *201
Listings that went conditional/pending: 220 (217, 242, 201, 272) *199
Expired/Cancelled: 94 (100, 103, 192, 66) *90
Total Active Halifax/Dartmouth Inventory: 3,323 (3,357, 3,341, 3,348, 3,387) +4,273
Absorption Rate in weeks: 17 (17, 16, 16, 16) *23
Single Family Home Stats
Active Single Family Home: 1,888 (1,903, 1,883, 1,877, 1,907) *2,452
Average Single Family Home List Price: $355,116 ($326k,$321k,$334k,$344k) *$325k
Average Single Family Home Selling Price: $345,010 ($317k,$316k,$329k,$337k) *$316k
Single Family Home Sale to List Ratio This Week: 97% (98%, 99%, 99%, 98%) *97%
Median Single Family Home List Price (6 mo): $299,900 ($299k,$300k,$300k,$300k)*$289k
Median Single Family Home Sold Price (6 mo):$290,000 ($290k,$298k,$299k,$298k)*$280k
Average Days on Market Single Family Home: 51 (37, 51, 70, 58) *61
Active Condos: 213 (223, 225, 242, 248) *384
Average Condo Listing Price: $266,845 ($243k, $279k, $308k, $295k) *$227k
Average Condo Selling Price: $259,968 ($241k, $271k, $301k, $286k) *$218k
Condo Sale to List Ratio This Week: 97% (99.5%, 97%, 98%, 97%) 97%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k
Median Condo Sold Price (6 mo): $240,500 ($240k, $221k, $241k, $240k) *$221k
Average Days on Market Condos: 38 (31, 79, 56, 67)*81
Active Vacant Lots: 947 (953, 949, 947, 955) *1,068
As fast as they came, they went even faster. The small inventory increase last week created a bit of unease in the market, with some scratching their heads in wonder; what would happen next?. Fear not, it appears last week was a simple anomaly, and one that should be pretty standard from time to time if you are checking in with blog on the regular. This week witnessed a fairly sizeable chunk of inventory reduce in quick fashion, which was felt by all tracked products. Not only did sales report above average this week, the values overall also had a good week, with sales numbers reporting over the last few weeks and increasing in a season that usually sees them slip a bit. Seems to be a bit of a resurgence in the market in the last week or so, which was a big question mark, especially coming off the insanely hot Spring market. This weeks report certainly shows signs of life in the market yet, so it will be interesting to ride the wave to its conclusion. Stay tuned to the blog to keep on top of the market, and don't be afraid to reach out if you are looking for assistance wading through the current market environment. Thanks for stopping by!
The Weekly Adogtable!!
Buffy is an active and playful girl. She is skeptical of other dogs, but once she knows them she is very playful with them. No cats. She knows her basic commands and is bilingual! She currently pulls on leash likes to jump up but we are working on this and her family will need to take her to a positive reinforcement trainer to set her up for success. Not recommended for kids under 10
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.
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