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 June 6th - 13th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 343 (335, 336, 377, 351) *348
Sold: 206 (234, 225, 227, 203) *182
Sale To Listing Ratio: 60% (70%, 67%, 60%, 58%) *52%
Price Changes: 164 (161, 174, 145, 181) *230
Listings that went conditional/pending: 256 (231, 260, 266, 232) *220
Expired/Cancelled: 82 (137, 72, 61, 56) *90
Total Active Halifax/Dartmouth Inventory: 3,366 (3,363, 3,409, 3,410, 3,375) +4,273
Absorption Rate in weeks: 15 (15, 16, 16, 17) *22
Single Family Home Stats
Active Single Family Home: 1,905 (1,886, 1,894, 1,904, 1,897) *2,476
Average Single Family Home List Price: $350,148 ($346k, $350k,$348k,$367k) *$353k
Average Single Family Home Selling Price: $344,594 ($337k,$343k,$342k,$359k) *$343k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $299,900 ($300k,$300k,$300k,$299k)*$290k
Median Single Family Home Sold Price (6 mo):$295,000 ($295k,$296k,$295k,$292k)*$280k
Average Days on Market Single Family Home: 44 (54, 51, 52, 44) *52
Active Condos: 246 (252, 261, 267, 260) *431
Average Condo Listing Price: $269,700 ($292k, $282k, $250k, $317k) *$273k
Average Condo Selling Price: $255,270 ($288k, $280k, $256k,$311k) *$264k
Condo Sale to List Ratio This Week: 95% (99%, 99%, 98%, 98%) 97%
Median Condo List Price (6 mo): $248,500 ($250k, $250k, $246k, $248k) *$238k
Median Condo Sold Price (6 mo): $239,450 ($240k, $241k, $240k, $241k) *$226k
Average Days on Market Condos: 45 (72, 50, 37, 43) *88
Active Vacant Lots: 943 (949, 965, 955, 943) *984
Well, it looks like it was a couple week blip after all. This week saw the inventory increase after two anomaly weeks of decline, although, the gain is hardly worth mentioning since it's so small. Sales took a bit of a kick down this week, but still performed well, and will be returning to its full strength shortly given the amount of properties that reported an accepted offer this week (conditional/pending stat). Not a lot of listings that fell off the market this week by an expiry or cancellation, which is fairly typical given the time of year. Not as many price changes this week compared to last year at this time though, which might speak to the health of the market as well. Absorption rate held steady at 15 weeks again this week, and is still smoking last years report by a whopping 7 weeks. Overall values remain strong, and the median values for both tracked products are holding at a plus of $10k increased from last year at this time. It seems like a lot the spillage from the 2018 market year is being tended to as properties get snapped up, but there still seems to be that heavy demand in certain areas. The end of Spring has brought a bit of a different market, it seems, and we are sure to see overall activity start it's downward trend anytime now. Things are still moving at a rapid pace though, but there does seem to be a few more options for buyers around HRM. Still a couple weeks left until the Summer market takes hold, so stay tuned to the blog to see how the Spring finishes! Thanks for stopping by!
The Weekly Adogtable!
Sweet Annie is a bit timid at first but it only takes her a minute to warm up and she becomes a silly, playful goofball. When left alone Annie has been known to eat things that upset her belly. To be specific, socks! Annie required surgery to remove a sock she had ingested so her new home would need to be mindful of what they leave lying around. Poor Annie was quite sick but would likely make the same mistake again if given the opportunity. Crate training would be recommended to keep her and your belongings safe. Annie would love to go to a home with children no younger than 12 years of age and no other dogs.
This "cuddly companion" is available through The Nova Scotia SPCA, 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah