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 March 14th - March 21st, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 260 (251, 330, 189, 218) *295
Sold: 139 (146, 126, 111, 129) *114
Sale To Listing Ratio: 55% (58%, 38%, 59%, 59%) *39%
Price Changes: 69 (101, 100, 82, 81) *137
Listings that went conditional/pending: 161 (169, 165, 167, 135) *142
Expired/Cancelled/Withdrawn: 75 (61, 102, 54, 69) *67
Total Active Halifax/Dartmouth Inventory: 3,147 (3,160, 3,150, 3,075, 3,117) +3,801
Absorption Rate in weeks: 24 (25, 26, 26, 27) *30
Single Family Home Stats
Active Single Family Home: 1,688 (1,700, 1,674, 1,629, 1,656) *2,103
Average Single Family Home List Price: $365,272 ($337k,$344k,$334k,$313k) *$325k
Average Single Family Home Selling Price: $357,888 ($330k,$337k,$326k,$303k) *$314k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 97%) *97%
Median Single Family Home List Price (6 mo): $289,500 ($289k,$290k,$290k,$286k)*$278k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 68 (55, 78, 69, 79) *69
Active Condos: 254 (260, 298, 259, 261) *367
Average Condo Listing Price: $237,400 ($295k, $226k, $229k, $266k) *$252k
Average Condo Selling Price: $227,500 ($285k, $215k, $221k, $256k) *$242k
Condo Sale to List Ratio This Week: 96% (97%, 95%, 95%, 96%) 96%
Median Condo List Price (6 mo): $239,000 ($240k, $240k, $240k, $240k) *$239k
Median Condo Sold Price (6 mo): $229,900 ($232k, $230k, $231k, $232k) *$234k
Average Days on Market Condos: 54 (51, 108, 93, 71) *127
Active Vacant Lots: 938 (939, 932, 911, 920) *1,003
Here we go again! After two consecutive weeks of inventory gain, we are back on the decline with all tracked products reducing in numbers this week. It has been an odd statistic to track this year, since we usually trend in the upwards direction around this time, but since the beginning of the year, inventory has been leaning in a new direction...downwards. Lots of good activity this week as well, but mostly activity that we are starting to get acclimatized to here in Halifax, like solid sales number, buzzing buyer activity, and less time on market for sellers. Still lots of buyer frustration out there in areas though (especially on the peninsula), but it is starting to seep into other zones and communities as well. Due to this market environment, the absorption rate has been shedding weeks at a rapid pace, and we have found ourselves a full six weeks off the rate of last year at this time. Values are still reporting strong overall, especially single family homes, that are really reporting better in all areas from this year at this time. The Spring market is upon us and it looks to heat up even more, so stay tuned to the blog to keep your finger on the pulse of the real estate market here in Halifax! Thanks for stopping by!
The Weekly Adogtable!
Meet Lou. He is Comfortable w/ all physical manipulations. Very treat motivated. No bite history. Has had mild resource guarding of toys/ food with male dogs only. Dog friendly and very social. OK w/ cats – but cats ignored him so.. We are thinking this could be iffy depending on the cat. Kids 12+. No fear of men. Very human friendly. Strong. Jumps up if super excited but this has been worked on .
Has mouthed the odd time when playing but has been worked on and improved. Medium energy
Very affectionate. non-destructive and can be left uncrated (prefers this or he gets anxious locked up too long). Pulls on leash – don't they all? lol. We suggest using a freedom harness. Knows basic commands but proof of enrollment in obedience training is a requirement to adopt.
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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah