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 February 21st - February 28th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 189 (218, 248, 250, 175) *325
Sold: 111 (129, 114, 119, 94) *129
Sale To Listing Ratio: 59% (59%, 46%, 48%, 54%) *40%
Price Changes: 82 (81, 80, 103, 75) *125
Listings that went conditional/pending: 167 (135, 153, 133, 133) *164
Expired/Cancelled/Withdrawn: 54 (69, 75, 168, 98) *139
Total Active Halifax/Dartmouth Inventory: 3,075 (3,117, 3,096, 3,074, 3,091) +3,620
Absorption Rate in weeks: 26 (27, 30, 33, 38) *33
Single Family Home Stats
Active Single Family Home: 1,629 (1,656, 1,657, 1,671, 1,648) *1,961
Average Single Family Home List Price: $334,205 ($313k,$331k,$324k,$237k) *$336k
Average Single Family Home Selling Price: $325,928 ($303k,$324k,$315k,$349k) *$322k
Single Family Home Sale to List Ratio This Week: 98% (97%, 98%, 97%, 98%) *96%
Median Single Family Home List Price (6 mo): $289,900 ($286k,$290k,$289k,$289k)*$279k
Median Single Family Home Sold Price (6 mo):$280,250 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 69 (79, 66, 76, 77) *73
Active Condos: 259 (261, 254, 242, 241) *366
Average Condo Listing Price: $229,009 ($266k, $293k, $307k, $231k) *$227k
Average Condo Selling Price: $220,627 ($256k, $285k, $295k, $227k) *$221k
Condo Sale to List Ratio This Week: 96% (96%, 97%, 96%, 98%) 97%
Median Condo List Price (6 mo): $239,900 ($240k, $240k, $240k, $240k) *$239k
Median Condo Sold Price (6 mo): $231,250 ($232k, $232k, $230k, $232k) *$232k
Average Days on Market Condos: 93 (71, 60, 102, 120) *47
Active Vacant Lots: 911 (920, 918, 900, 942) *973
Looks like we are heading in the opposite direction again. After two short weeks of marginal inventory gain, this weeks reduction pretty much erased what little increase there was. All tracked products reduced this week, with single family homes being the most significant. Could it be the lack of new products added this week, the relentless sales, the weather? Whatever it is, 2019 has started off on a very unusual note, with no clear indication that things are about to change back anytime soon. Speaking of unrelenting sales, it looks like another chunk of products are about to switch over to the sale pile according to the listings that went conditional/pending this week. So, despite the frosty blast of winter this week, the market here in Halifax remains red hot. Expired listings are down quite significantly this week compared to last year at this time as well, which comes as no surprise since things are flying off the shelves. Not even the Spring market and it has basically been performing like it since the beginning of the year. It will be interesting to see what the Spring market actually brings! Stay tuned to find out! Thanks for stopping by!
The Weekly Adogtable!
Dobby was found as a stray. He is tolerant with touching all over, is crate trained, and barks to greet you. He is excited with other dogs, but has a fearful disposition of strangers. Dobby is playful and affectionate once he gets to know you, but is anxious and fearful of new things.
We often see this with dogs who need confidence boosts, which will be worked on while he is in our care. His new family will need to build his trust and confidence as well. Dobby pulls on his leash (a freedom harness will help with this) and is selective with toys.
This "cuddly companion" is available through Marleys Hope, 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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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