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 September 20th-27th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 285 (280, 227, 208, 294) *267
Sold: 174 (167, 141, 126, 147) *148
Sale To Listing Ratio: 61% (60%, 62%, 61%, 50%) *55%
Price Changes: 172 (163, 161, 143, 158) *219
Listings that went conditional/pending: 164 (176, 165, 135, 179) *149
Expired/Cancelled/Withdrawn: 127 (111, 89, 201, 142) *149
Total Active Halifax/Dartmouth Inventory: 4,030 (4,026, 4,031, 4,027, 4,194) +4,613
Absorption Rate in weeks: 27 (28, 29, 27, 26) *33
Single Family Home Stats
Active Single Family Home: 2,258 (2,283, 2,288, 2,287, 2,392) *2,837
Average Single Family Home List Price: $308,418 ($303k,$336k,$333k,$318k) *$299k
Average Single Family Home Selling Price: $298,932 ($295k,$323k,$323k,$308k) *$289k
Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $289,900 (%290k,$290k,$289k,$289k)*$279k
Median Single Family Home Sold Price (6 mo):$282,000 ($283k,$283k,$282k,$281k)*$270k
Average Days on Market Single Family Home: 53 (56, 67, 66, 69) *70
Active Condos: 329 (328, 330, 331, 357) *416
Average Condo Listing Price: $212,757 ($323k, $254k, $256k, $287k) *$264k
Average Condo Selling Price: $205,968 ($314k, $244k, $249k) *$255k
Condo Sale to List Ratio This Week: 97% (97%, 96%, 97%, 97%) 97%
Median Condo List Price (6 mo): $229,900 ($230k, $230k, $230k, $230k) *$245k
Median Condo Sold Price (6 mo): $221,000 ($221k, $221k,$223k, $221k) *$235k
Average Days on Market Condos: 79 (105, 122, 74, 118) *146
Active Vacant Lots: 1,071 (1,067, 1,069, 1,067, 1,084) *1,123
Welcome to the first week of Fall! I don't know if it's me, but didn't Summer seemed to come and go too quickly. September hit, and it was like a switch! What is usually the sleeper time in general, turned out to be one of the hottest Summers for both market and weather! Momentum is certainly carrying forward so far, and there doesn't seem to be any end in sight. Lots of buyer backup still in play, and there remains a lack of selection out there for the wary buyers. Usually, buyers have a "must have" list when looking for their next home. It used to be, If you are getting 80-90% of that list you were doing good, now its more like 60-70%. It's definitely interesting to watch the different market types, trends, and how the players react when push comes to shove. Definitely feels like the market of 2010/11 out there right now, but if you recall, it wasn't too far after that the market had a change of direction for several years. For sellers, it's critical that you ride the wave while it still surges, and for buyers, it's important not to but too high in case of a market turnaround. Will that happen anytime soon? Unlikely, but you will have to stay tuned to the blog to stay on top of things! Thanks for stopping by, and don't forget to hit the like button below!
The Weekly Adogtable!
Meet Tony! He's a fella who Needs a neuter and microchip on us. He is up to date on vaccines but needs rabies shot. Crate trained but not a fan of being caged. Well socialized with people, happy to see them. Likes to sniff a lot on walks. Ok with touching all over but, a little sensitive when touching his tail, will attempt to avoid your hand or walk away. No resource guarding, takes treats nicely. Playful with dogs, hackles on his back at first from nerves but , he will relax very quickly. Cats unknown. Jumps when playing, nibbles and plays like a bully breed.
This "cuddly companion" is available through Good Bones Dog Rescue, 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!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
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.
Newest Blog post HERE
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