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 November 1st - 8th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 268 (233, 225, 283, 227) *214
Sold: 111 (121, 117, 141, 108) *123
Sale To Listing Ratio: 41% (50%, 52%, 50%, 48%) *58%
Price Changes: 126 (165, 118, 124, 173) *179
Listings that went conditional/pending: 147 (140, 128, 140, 157) *138
Expired/Cancelled/Withdrawn: 203 (281, 101, 129, 88) *144
Total Active Halifax/Dartmouth Inventory: 3,732 (3,731, 3,884, 3,889, 3,881) +4,165
Absorption Rate in weeks: 31 (31, 31, 28, 26) *33
Single Family Home Stats
Active Single Family Home: 2,078 (2,089, 2,181, 2,163, 2,171) *2,511
Average Single Family Home List Price: $335,567 ($292k,$305k,$327k,$318k) *$286k
Average Single Family Home Selling Price: $321,341 ($281k,$295k,$317k,$307k) *$275k
Single Family Home Sale to List Ratio This Week: 96% (96%, 97%, 97%, 96%) *96%
Median Single Family Home List Price (6 mo): $288,900 ($289k,$290k,$290k,$280k)*$280k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$282k,$283k,$283k)*$270k
Average Days on Market Single Family Home: 115 (63, 49, 71, 81) *80
Active Condos: 318 (313, 315, 317, 321, 319) *403
Average Condo Listing Price: $253,236 ($287k, $262k, $235k, $225k) *$192k
Average Condo Selling Price: $245,771 ($277k, $253k, $228k, $222k) *$185k
Condo Sale to List Ratio This Week: 97% (96%, 96%, 97%, 99%) 96%
Median Condo List Price (6 mo): $233,150 ($230k, $230k, $225k, $227k) *$249k
Median Condo Sold Price (6 mo): $225,000 ($224k, $221k, $220k, $220k) *$240k
Average Days on Market Condos: 87 (155, 101, 125, 149) *88
Active Vacant Lots: 1,023 (1,027, 1,064, 1,080, 1,045) *1,008
Even with that inventory slide we saw last week, the levels pretty much balanced off, which is different from the usual week after bounce back. Just an indicator that annual trend is in full swing. Surprisingly, there was an above average amount of new listings this week, and not so surprising is that they were met with fewer buyers for the time of year. Still, buyer activity remains in full sprint mode, as many are still attempting to get into their new digs before the new year is out, and with only a few more weeks until Christmas, the game is on! Values overall remained steady this week, and so too is the absorption rate, which evened out after a drastic freewill a few weeks back. This weekend, the Remembrance Day weekend, is usually a low point for the years activity, second only to Christmas. Rightly so, since taking the time to remember the people directly involved with preserving our freedom, who paid the ultimate sacrifice for that freedom, should supersede most activities that day. Thanks for stopping by!
Sunday is Remembrance Day across Canada, and I would encourage every Canadian to get out and attend one of the many ceremonies across the city, which can be found HERE. Still not sure where to go and when to be there? Simply head to your closest Canadian Legion by 10:30am on the 11th to take in the day.
The Weekly Adogtable!
Meet Kane! A laid back boy, Kane is looking for a family with the perfect couch for him to lounge on. Put on the TV and take a seat beside him, he's sure to enjoy the time spent with his new family. Kane would prefer to be the king of the home - due to lack of socializing in his early years, he'd thrive in a setting where he doesn't need to share his space with other animals. He does well meeting dogs on walks, but doesn't quite understand how to play respectfully. Obedience classes would be a great idea for this guy, as it helps build a strong relationship and will teach him the ins and outs and being a good boy.
Kane would do best in a home:
With kids over the age of 5
Without other animals
Any activity level, keeping in mind he's not overly active
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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Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
Newest Blog post HERE
Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah