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 - 30th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 204 (194, 229, 170) *175
Sold: 125 (89, 76, 90) *94
Sale To Listing Ratio: 61% (46%, 33%, 53%) *54%
Price Changes: 62 (47, 51, 75) *75
Listings that went conditional/pending: 163 (148, 137, 108) *133
Expired/Cancelled: 50 (57, 51, 70) *98
Total Active Halifax/Dartmouth Inventory: 2,127 (2,148, 2,156, 2,113) +3,091
Absorption Rate in weeks: X (X, X, X) *X
Single Family Home Stats
Active Single Family Home: 1,068 (1,080, 1,088, 1,059) *1,648
Average Single Family Home List Price: $341,367 ($368k, $365k, $359k) *$356k
Average Single Family Home Selling Price: $340,098 ($364k, $353k, $349k) *$349k
Single Family Home Sale to List Ratio This Week: 99% (99%, 97%, 97%) *98%
Median Single Family Home List Price (6 mo): $314,900 ($315k, $315k, $315k)*$289k
Median Single Family Home Sold Price (6 mo):$308,900 ($310k, $309k, $308k)*$280k
Average Days on Market Single Family Home: 70 (62, 65, 109) *77
Active Condos: 140 (144, 142, 138) *241
Average Condo Listing Price: $240,640 ($301k, $289k, $320k) *$232k
Average Condo Selling Price: $235,780 ($294k, $287k, $315k) *$227k
Condo Sale to List Ratio This Week: 98% (98%, 99%, 99%) 98%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $249k) *$240k
Median Condo Sold Price (6 mo): $241,000 ($240k, $240k, $240k) *$232k
Average Days on Market Condos: 20 (64, 69, 118) *120
Active Vacant Lots: 766 (768, 773, 764) *942
Looks like yet another week of inventory reductions! All tracked products across the board had reductions this week, chipping away at the little inventory we have left. A few more additions to the market than last year at this time, but they were met with an effect negating sales count. Speaking of high sales, it looks like we should see that number balloon in a couple weeks, once the properties that went pending this week make their way through the due diligence process and firm up (marked sold). That is a significantly larger number than last year at this time, which is likely helping keep the inventory low. Expired and cancelled listings reported low again this week, which isn't a huge surprise given that a lot of products are selling right out of the gate, so less listings that need tweaking as they sit on the market. Values remain steady and strong this week, with little change in either direction to mention. Likely, these values will steadily increase as the year goes on, but we may see a value surge like we did last year, seeing the 6 month median price jump over $10k in a few months in such a short timespan for single family homes... crazy. Interesting times ahead, so stay tuned to the blog to stay on top of the ever changing market! Thanks for stopping by!
The Weekly Adogtable!
Choco ( 4 yrs old) . Spay, utd on vaccines and flea protection. Lab mix kids 8 + ideal to know how to respect a dogs space. Loves dogs. No cats./ Choco is anxious when she is the only pet , panics if crated but fine uncrated with another dog , not destructive. She was living on a first nation community with many other dogs so well socialized with them. She needs to always be on a leash or in a fenced yard cause she can run after squirrels or small animals. She loves humans she's very playful. Loves chuck it
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about her 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah