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 13th-20th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 280 (227, 208, 294, 255) *272
Sold: 167 (141, 126, 147, 146) *143
Sale To Listing Ratio: 60% (62%, 61%, 50%, 57%) *53%
Price Changes: 163 (161, 143, 158, 153) *218
Listings that went conditional/pending: 176 (165, 135, 179, 158) *165
Expired/Cancelled/Withdrawn: 111 (89, 201, 142, 113) *130
Total Active Halifax/Dartmouth Inventory: 4,026 (4,031, 4,027, 4,194, 4,200) +4,602
Absorption Rate in weeks: 28 (29, 27, 26, 26) *33
Single Family Home Stats
Active Single Family Home: 2,283 (2,288, 2,287, 2,392, 2,410) *2,833
Average Single Family Home List Price: $303,463 ($336k,$333k,$318k,$314k) *$298k
Average Single Family Home Selling Price: $294,677 ($323k,$323k,$308k,$303k) *$290k
Single Family Home Sale to List Ratio This Week: 97% (96%, 97%, 97%, 96%) *97%
Median Single Family Home List Price (6 mo): $289,900 ($290k,$289k,$289k,$289k)*$279k
Median Single Family Home Sold Price (6 mo):$283,000 ($283k,$282k,$281k,$281k)*$270k
Average Days on Market Single Family Home: 56 (67, 66, 69, 71) *69
Active Condos: 328 (330, 331, 357, 379) *413
Average Condo Listing Price: $322,447 ($254k, $256k, $287k, $277k) *$244k
Average Condo Selling Price: $313,852 ($244k, $249k, $282k) *$231k
Condo Sale to List Ratio This Week: 97% (96%, 97%, 97%, 97%) 95%
Median Condo List Price (6 mo): $229,900 ($230k, $230k, $230k, $230k) *$240k
Median Condo Sold Price (6 mo): $221,000 ($221k,$223k, $221k, $221k) *$230k
Average Days on Market Condos: 105 (122, 74, 118, 132) *82
Active Vacant Lots: 1,067 (1,069, 1,067, 1,084, 1,060) *1,126
Well that was a quick change! A couple of days ago I was looking for ways to cool down, and this week I'm scrambling for a coat! I can't complain though, the Summer weather was awesome this year, just like our market! Even though the temps outside seem to be cooling off, that doesn't seem to be translating to the market here in Halifax. Yet again, numbers are up in key areas like sales, listings that received and accepted offers, and the sales to list ratio, but are also down in the other key areas of improvement like inventory, days on market, and funny enough, the absorption rate. Activity is still strong overall, and the 2018 Summer market is almost in the books. It appears that it wants to squeeze every last possible moment it can though, and I'm sure this will be a Summer for the books. Stay tuned to find out! Thanks for stopping by!
The Weekly Adogtable!
Lance (or Sir Lancelot, if you like) is a sweet boy ready steal your heart! Despite having a rough start to life, he knows how to bring a smile to your face with his goofy antics, and he aims to impress with the tricks he knows. This charmer is very affectionate with his people, though another established dog in the household could be just what Lance needs to learn how to be the best pup he can be. Registration in obedience classes is encouraged for his new family.
Lance would be best suited to a home:
-With or without other animals
-With children over the age of 12 years
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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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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah