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 July 4th-11th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 333 (333, 357, 340, 343) *359
Sold: 197 (208, 221, 205, 206) *164
Sale To Listing Ratio: 60% (63%, 62%, 60%, 60%) *51%
Price Changes: 161 (167, 167, 173, 164) *249
Listings that went conditional/pending: 242 (201, 272, 254, 256) *207
Expired/Cancelled: 103 (192, 66, 57, 82) *112
Total Active Halifax/Dartmouth Inventory: 3,341 (3,348, 3,387, 3,381, 3,366) +4,233
Absorption Rate in weeks: 16 (16, 16, 16, 15) *22
Single Family Home Stats
Active Single Family Home: 1,883 (1,877, 1,907, 1,904, 1,905) *2,446
Average Single Family Home List Price: $320,789 ($334k,$344k,$349k,$350k) *$332k
Average Single Family Home Selling Price: $316,170 ($329k,$337k,$342k,$345k) *$323k
Single Family Home Sale to List Ratio This Week: 99% (99%, 98%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $299,900 ($300k,$300k,$300k,$300k)*$289k
Median Single Family Home Sold Price (6 mo):$298,261 ($299k,$298k,$296k,$295k)*$280k
Average Days on Market Single Family Home: 51 (70, 58, 59, 44) *55
Active Condos: 225 (242, 248, 250, 246) *392
Average Condo Listing Price: $278,622 ($308k, $295k, $287k, $270k) *$236k
Average Condo Selling Price: $270,473 ($301k, $286k, $277k, $255k) *$226k
Condo Sale to List Ratio This Week: 97% (98%, 97%, 97%, 95%) 96%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $249k) *$235k
Median Condo Sold Price (6 mo): $221,000 ($241k, $240k, $240k, $240k) *$225k
Average Days on Market Condos: 79 (56, 67, 66, 45)*117
Active Vacant Lots: 949 (947, 955, 948, 943) *1,018
Inventory overall took another dip this week, although just slightly, despite taking gains in both Single Family Home and Vacant Land products. Contributors to the reduction include condo's, who took the largest hit, a good surge of pending properties, and a decent amount of expiries and cancellations. Overall though, the inventory is reporting fairly average for the time year. Values remain strong for the week, although, Single Family home's took a bit of a hit. Not uncommon to see average sale prices dip as we slide into the slower months, but it does tend to start closer to the Fall. Could be the supply vs demand factor, although super competitive demand seems to be waining a touch. Still not much in the way of supply, and what supply we do have seems to be the scraps that outlived the late Spring/early Summer bonanza. New products do continue to grace the market week to week though, and those priced and presented well seem to be moving at a rapid pace. It's when that stops happening is when there may be a problem. Stay tuned to keep you finger on the pulse of the market, and thanks for stopping by!
The Weekly Adogtable!
Meet Diva! Are you looking for a sweet older gal with a zest for life? Diva is the ideal walking buddy and couch companion. She'll happily hit up the walking trails and explore all of your favourite outdoor spots (and maybe even help you discover some new ones)! Slowing down isn't on her to-do list, as Diva has lots of energy to spare. She'll keep you on your toes and challenge you to keep up with a goofy grin on her face!
Diva would be best suited to a home:
-Without other animals (this diva has a bit of an attitude and lacks her doggy manners)
-With children over 10
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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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