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 December 13th - December 20th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 133 (148, 146, 147, 167) *141
Sold: 91 (113, 114, 98, 104) *112
Sale To Listing Ratio: 68% (76%, 78%, 67%, 62%) *79%
Price Changes: 44 (107, 76, 73, 113) *53
Listings that went conditional/pending: 87 (84, 96, 109, 128) *94
Expired/Cancelled/Withdrawn: 112 (91, 208, 75, 96) *163
Total Active Halifax/Dartmouth Inventory: 3,411 (3,469, 3,493, 3,622, 3,645) +3,676
Absorption Rate in weeks: 33 (32, 34, 35, 34) *32
Single Family Home Stats
Active Single Family Home: 1,838 (1,878, 1,886, 1,975, 1,990) *1,988
Average Single Family Home List Price: $305,673 ($293k,$320k,$342k,$320k) *$330k
Average Single Family Home Selling Price: $296,604 ($286k,$310k,$335k,$310k) *$317k
Single Family Home Sale to List Ratio This Week: 97% (98%, 97%, 98%, 97%) *96%
Median Single Family Home List Price (6 mo): $283,900 ($284k,$285k,$287k,$285k)*$279k
Median Single Family Home Sold Price (6 mo):$278,700 ($279k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 53 (93, 70, 85, 101) *77
Active Condos: 275 (279, 289, 333, 338, 312) *355
Average Condo Listing Price: $205,661 ($288k, $277k, $240k, $221k) *$250k
Average Condo Selling Price: $199,582 ($279k, $262, $235k, $217k) *$240k
Condo Sale to List Ratio This Week: 97% (96%, 95%, 98%, 98%) 96%
Median Condo List Price (6 mo): $229,900 ($234k, $230k, $230k, $231k) *$244k
Median Condo Sold Price (6 mo): $225,000 ($225k, $225k, $225k, $225k) *$240k
Average Days on Market Condos: 96 (119, 84, 64, 57) *98
Active Vacant Lots: 1,022 (1,015, 1,011, 1,031, 1,034) *961
That inventory gap has almost closed! At the end of the market year we usually see this level dip to the annual low point, and this year is no different. With the biggest holiday's on the horizon, many take the opportunity to take a pause from their property needs and concentrate on other things. Just because the gap is narrowing, doesn't necessarily mean that we are headed in a backward direction, although, the market is unpredictable, so you never know what will be in store for the 2019 market year. I know many buyers would be happy if a few more options came to market, or to a lesser extent, fewer buyers to compete with. 2018 was a hard market year for some buyers, especially in peninsular Halifax, where multiple offers and quickly sold properties were very much a reality. This week is very reflective of last year at this time, and there are several stats reporting eerily alike. We're down in a few area's this week however, even if marginal, so the big question is how 2019 will respond. You will have to come back in the new year to find out, as the blog posts the 2018 market year summary! Thanks for stopping by!
I just wanted to wish all my clients, friends, family and readers of the blog a very Merry Christmas and Happy New Year! The weekly market rant will return in 2019, with the 2018 market year summary! Be sure to stop by!
The Weekly Adogtable
Meet Lilly! Look at that face! What a beauty with a personality to match! She came into our care through no fault of her own and is eager to find a new place to call home. She is a sweet girl who likes to spend her time with her humans. In her time with us, Lilly has let us know she would prefer to be an only child, meaning the only animal in the home. Her ideal living situation would be in a house as opposed to an apartment or condo.
Although she can come off quite aloof when you first meet her, she can become nervous - especially around small children. They're just too quick for her to keep up with! She would love to be in a home with older children, 12 and up.
This "cuddly companion" is available through the NSSPCA, 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
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.
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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