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 October 25th - November 1st, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 244 (225, 283, 227, 272) *237
Sold: 121 (117, 141, 108, 138) *121
Sale To Listing Ratio: 50% (52%, 50%, 48%, 51%) *51%
Price Changes: 165 (118, 124, 173, 174) *148
Listings that went conditional/pending: 140 (128, 140, 157, 154) *140
Expired/Cancelled/Withdrawn: 281 (101, 129, 88, 274) *337
Total Active Halifax/Dartmouth Inventory: 3,731 (3,884, 3,889, 3,881, 3,894) +4,227
Absorption Rate in weeks: 31 (31, 28, 26, 25) *33
Single Family Home Stats
Active Single Family Home: 2,089 (2,181, 2,163, 2,171, 2,186) *2,562
Average Single Family Home List Price: $292,331 ($305k,$327k,$318k,$346k) *$286k
Average Single Family Home Selling Price: $281,278 ($295k,$317k,$307k,$338k) *$274k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 96%, 98%) *96%
Median Single Family Home List Price (6 mo): $288,850 ($290k,$290k,$280k,$290k)*$275k
Median Single Family Home Sold Price (6 mo):$280,000 ($282k,$283k,$283k,$283k)*$265k
Average Days on Market Single Family Home: 63 (49, 71, 81, 70) *78
Active Condos: 313 (315, 317, 321, 319, 329) *394
Average Condo Listing Price: $286,800 ($262k, $235k, $225k, $244k) *$262k
Average Condo Selling Price: $276,487 ($253k, $228k, $222k, $238k) *$257k
Condo Sale to List Ratio This Week: 96% (96%, 97%, 99%, 97%) 98%
Median Condo List Price (6 mo): $229,900 ($230k, $225k, $227k, $230k) *$249k
Median Condo Sold Price (6 mo): $223,500 ($221k, $220k, $220k, $221k) *$240k
Average Days on Market Condos: 155 (101, 125, 149, 112) *107
Active Vacant Lots: 1,027 (1,064, 1,080, 1,045, 1,043) *1,023
From a fairly fast slip, the absorption rate has levelled out after quite the show, for this week anyways. It's still rather impressive that we have gained 6 additional weeks in such a short time, but the market, much like the weather, seems to have cooled rather quickly in the early Fall so it was almost expectant. The first half of November is usually a rather slow time, with a combination of expiring listings, lack of buyer interest, and a vacancy as we approach Remembrance Day. Not much of a pick-up after that usually either, as the approach to Christmas sees a further decline in activity. Have no fear though, things usually get right back on track and starts right back up again in the new year! I dare say, there are still segments of the market seeing significant activity levels, and until this buyer bulge has been fed it will continue. If these demands have not been met by the new year, and the demand is just as great, we can expect to see a market even hotter in areas than they were this year. Not good news for buyers in these areas, but it may leave some sellers licking their chops in anticipation. Interesting times indeed! Stay tuned to the blog to stay on top of all things Halifax real estate! Thanks for stopping by, and don't forget to hit the like button below!
The Weekly Adogtable!
Bellamy is looking for an active family that will help him in becoming the best dog ever. He's charming, playful, eager to please and would benefit from leadership and structure in his forever home. In no time, he'll be a great walking buddy, a cuddler and he will be begging you to go outside to toss the ball around with him.
Bellamy's ideal home:
- With children over the age of 12
- With or without other dogs
- Registration in obedience classes required upon adoption - he needs to learn manners with playing, walking and greeting people.
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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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