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 23rd - 29th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 147 (167, 202, 268, 233) *191
Sold: 98 (104, 99, 111, 121) *134
Sale To Listing Ratio: 67% (62%, 49%, 41%, 50%) *70%
Price Changes: 73 (113, 101, 126, 165) *107
Listings that went conditional/pending: 109 (128, 134, 147, 140) *127
Expired/Cancelled/Withdrawn: 75 (96, 100, 203, 281) *105
Total Active Halifax/Dartmouth Inventory: 3,622 (3,645, 3,704, 3,732, 3,731) +4,057
Absorption Rate in weeks: 35 (34, 33, 31, 31) *32
Single Family Home Stats
Active Single Family Home: 1,975 (1,990, 2,042, 2,078, 2,089) *2,256
Average Single Family Home List Price: $342,100 ($320k,$329k,$336k,$292k) *$319k
Average Single Family Home Selling Price: $335,211 ($310k,$320k,$321k,$281k) *$311k
Single Family Home Sale to List Ratio This Week: 98% (97%, 97%, 96%, 96%) *97%
Median Single Family Home List Price (6 mo): $286,450 ($285k,$289k,$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: 82 (85, 101, 115, 63) *90
Active Condos: 333 (338, 312, 318, 313, 315) *399
Average Condo Listing Price: $240,950 ($221k, $286k, $253k, $287k) *$262k
Average Condo Selling Price: $234,975 ($217k, $281k, $246k, $277k) *$231k
Condo Sale to List Ratio This Week: 98% (98%, 98%, 97%, 96%) 88%
Median Condo List Price (6 mo): $230,000 ($231k, $235k, $233k, $230k) *$245k
Median Condo Sold Price (6 mo): $225,000 ($225k, $225k, $225k, $224k) *$236k
Average Days on Market Condos: 64 (57, 51, 87, 155) *83
Active Vacant Lots: 1,031 (1,034, 1,031, 1,023, 1,027) *1,016
The inventory reductions continue again this week, even if slightly, and new additions hit below average as we continue our trudge into the cold season. As a matter of fact, all activity is slightly lower than average again this week, including overall sales and properties that received and accepted offers. Could just be the adjustment to getting out in this unseasonably cold weather, or maybe the stats are trending in a different direction. Hard to tell right now, and using this Fall market history is a bit tuff since the reports have been so hot and cold. What else is down, however, are the usually high performing numbers if the market is taking a turn. Stats like the expired/cancelled pile and price changes are usually at a peak performance when inventory is stuck in a rut, but these are also reporting below average. With all the above considered, you could likely just pass it off as yet another soft week, but then you see the absorption rate, which climbed again this week and took a stride on this time last year, which makes you wonder. Hopefully the indication of trend or anomaly emerges soon, so stay tuned to the blog to see the conclusion! Thanks for stopping by!
The Weekly Adogtable!
Meet Chuck! Weight: 48 lbs. Up to date on vaccines, De wormed, On Flea / tick medications. Can touch him all over when crated: barks, excited greeting (barks), when given food eats immediately Good with dogs: excited, playful outgoing disposition outgoing with strangers protective in presence of food pulls a lot on leash knows commands: sit vocal No cats but wont hurt just torments them barking at them. He's very kind with people, but excited. Testing has proven no resource guarding with food nor toys.
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