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 29th - December 6th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 146 (147, 167, 202, 268) *246
Sold: 114 (98, 104, 99, 111) *116
Sale To Listing Ratio: 78% (67%, 62%, 49%, 41%) *47%
Price Changes: 76 (73, 113, 101, 126) *116
Listings that went conditional/pending: 96 (109, 128, 134, 147) *103
Expired/Cancelled/Withdrawn: 208 (75, 96, 100, 203) *341
Total Active Halifax/Dartmouth Inventory: 3,493 (3,622, 3,645, 3,704, 3,732) +3,836
Absorption Rate in weeks: 34 (35, 34, 33, 31) *31
Single Family Home Stats
Active Single Family Home: 1,886 (1,975, 1,990, 2,042, 2,078) *2,119
Average Single Family Home List Price: $319,993 ($342k,$320k,$329k,$336k) *$306k
Average Single Family Home Selling Price: $309,539 ($335k,$310k,$320k,$321k) *$296k
Single Family Home Sale to List Ratio This Week: 97% (98%, 97%, 97%, 96%) *97%
Median Single Family Home List Price (6 mo): $284,900 ($287k,$285k,$289k,$289k)*$279k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 70 (85, 101, 115) *94
Active Condos: 289 (333, 338, 312, 318, 313) *374
Average Condo Listing Price: $276,900 ($240k, $221k, $286k, $253k) *$257k
Average Condo Selling Price: $262,252 ($235k, $217k, $281k, $246k) *$247k
Condo Sale to List Ratio This Week: 95% (98%, 98%, 98%, 97%) 96%
Median Condo List Price (6 mo): $229,900 ($230k, $231k, $235k, $233k) *$246k
Median Condo Sold Price (6 mo): $225,000 ($225k, $225k, $225k, $225k) *$239k
Average Days on Market Condos: 84 (64, 57, 51, 87) *65
Active Vacant Lots: 1,011 (1,031, 1,034, 1,031, 1,023) *958
For such an active market, there was certainly quite a few listings that had to expire or pull from the market this week, which is definitely not helping out those buyers still looking for their property. Most properties currently on the market are leftovers from the summer/fall market, and there’s usually a reason those get left behind for things like price and/or condition. Location also plays a part, but in the HRM, anything priced right is still moving. As we approach Christmas we will hit the lowest selection of inventory of the year. Things usually pick up right afterwards for a short surge in Jan/Feb, then dies off again for a couple months due to peak winter weather. Inventory has been an a bit finicky this year though. Lots of buyers, but the property additions to the market have been below average, creating the current balanced/seller’s market we are currently in. Anything remotely priced accordingly, and in good condition are being snapped up, so it’s important a constant watch on the areas of interest. Sellers to this market are likely being surprised by the amount of activity they are receiving for the time of year, but the question is; how will 2019 take this momentum? YOu'll have to stay tuned to the blog to find out! Thanks for stopping by!
The Weekly Adogtable!
Hi my name is Paris and I am a two year old American bully (bulldog) princess. I am an adoptable dog with the good bones dog rescue . I am completely deaf but my foster mom has taught me some sign commands and I have caught on fast but need practice outside with distractions. I am fully vetted and absolutely irresistible. I will need a human with patience because I am special and someone with bully experience would be best. No apts or condos for me because I use my cute little bark to communicate and gain your attention.
Kids are okay as long as 6+ only because she is very muscular and solid. A fenced yard would be perfect so I can play and run freely. I can run fast even with my short legs. I would absolutely love to be the only pet in my house because I am a princess. I will share my bed, toys, treats and food with dogs but in no way am I letting another dog steal my mom. I will chase you away. Right now I have dog friends (a lab and golden retriever) that I walk and play chase with . Dog friends outside my castle are fine but I don’t want you moving in. Deal? I rush to meet doggie friends, because I am so excitable outside, so that can be intimidating. No offleash for me as I chase leaves or anything that catches my eye and since I am deaf I won’t hear you calling me back. I am very short and muscular (quite the little tank) so I could inadvertently knock a little person over with my uncoordinated running style. I have quite a bit of energy to burn before spending time inside and I love the outdoors. I could walk all day . In the house I like training sessions and stimulating toys so I don’t get bored. Did I mention I absolutely love cuddling?
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