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 Dec 5th - 12th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 141 (154, 151, 211, 221) *148
Sold: 114 (149, 141, 157, 174) *113
Sale To Listing Ratio: 81% (97%, 93%, 74%, 79%) *76%
Price Changes: 51 (103, 84, 95, 96) *107
Listings that went conditional/pending: 132 (138, 155, 158, 188) *84
Expired/Cancelled: 124 (62, 60, 69, 199) *91
Total Active Halifax/Dartmouth Inventory: 2,398 (2,601, 2,657, 2,721, 2,722) +3,469
Absorption Rate in weeks: 17 (17, 17, 17, 17) *32
Single Family Home Stats
Active Single Family Home: 1,202 (1,336, 1,372, 1,437, 1,444) *1,878
Average Single Family Home List Price: $357,528 ($373k,$381k,$389k,$347k) *$293k
Average Single Family Home Selling Price: $355,610 ($365k,$371k,$375k,$340k) *$286k
Single Family Home Sale to List Ratio This Week: 99% (98%, 97% 96%, 98%) *98%
Median Single Family Home List Price (6 mo): $314,900 ($310k,$310k,$310k,$310k)*$284k
Median Single Family Home Sold Price (6 mo):$307,900 ($305k,$305k,$304k,$305k)*$279k
Average Days on Market Single Family Home: 89 (66, 66, 83, 66) *93
Active Condos: 177 (187, 195, 194, 190) *279
Average Condo Listing Price: $285,204 ($292k, $240k, $239k, $225k) *$288k
Average Condo Selling Price: $280,459 ($290k, $234k, $232k, $224k) *$279k
Condo Sale to List Ratio This Week: 98% (99%, 98%, 97%, 99%) 96%
Median Condo List Price (6 mo): $242,900 ($245k, $249k, $248k, $250k$234k
Median Condo Sold Price (6 mo): $236,610 ($239k, $239k, $239k, $240k) *$225k
Average Days on Market Condos: 29 (35, 57, 57, 46) *119
Active Vacant Lots: 841 (874, 880, 878, 868) *1,015
What a drop! Over 200 units vacated the market in their respective ways this week, as the inventory woes continue. As mentioned in previous posts, this time of year usually trends to the lowest levels of inventory all year, but it just seems this year is being helped by the above average buyer activity and below average listing contributions, so it's lower faster. Sales were decent this week, but pretty much on par with last year at this time, keeping in mind the two markets are still quite different from each other. Things are selling faster, the values overall are substantially higher, and things like the days on market and expired/cancelled listings tend to be fewer (of course this week contradicts that statement, but in the last several weeks it has reported noticeably lower). This week and the coming week should be the final stamps on the 2019 market year, as the following days seem to fall into holiday mode. No doubt there will still be activity right down the end of the year, it has been a year of several firsts, so why not? I just wonder what will be in for us in the new year if things continue the way they did this year. With all time low vacancy rates and limited inventory for sale, buyers will certainly have their work cut out for them in 2020 if we have a repeat year. Only time will tell, so make sure to stay tuned to the blog to stay on top of the Halifax real estate market! Thanks for stopping by!
❗️EMERGENCY -- 35 dogs need your help ❗️
From the NSSPCA Facebook Page:
SPCA Enforcement Officers spent 4 hours rescuing 35 dogs from a puppy mill. One of the largest dog seizures in Nova Scotia -- ever. 💔
You can imagine life in a puppy mill. The animals are withdrawn and broken, dirty and scared.
Although our resources are stretched, we couldn’t leave the dogs for winter. We put up emergency infrastructure and are providing vet treatment, extensive care, and food for many hungry bellies. 🐾 Because of their emotional trauma and medical needs, we estimate it will cost $20 a day, per dog on their long road to recovery.
Will you be their hero?
Make a gift at https://www.canadahelps.org/en/dn/m/44936/donation ⬅️
You can change their story of heartbreak into one of hope by donating today. Thank you for your compassionate support!
P.S. If you donate to their care, you will receive personal updates as a thank you for your gift. 💙
*The dogs are very scared and require intense rehabilitation to assess their future needs. We will not be accepting visitors until the appeal window has elapsed. Adoptions are not being considered at this time.*
More info about these guys 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