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 August 1st - August 8th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 273 (270, 302, 322, 333) *241
Sold: 154 (198, 205, 181, 197) *167
Sale To Listing Ratio: 56% (73%, 68%, 56%, 60%) *69%
Price Changes: 123 (167, 205, 190, 161) *165
Listings that went conditional/pending: 198 (204, 220, 217, 242) *130
Expired/Cancelled: 128 (134, 94, 100, 103) *68
Total Active Halifax/Dartmouth Inventory: 3,257 (3,263, 3,323, 3,357, 3,341) +4,213
Absorption Rate in weeks: 18 (17, 17, 17, 16) *25
Single Family Home Stats
Active Single Family Home: 1,852 (1,858, 1,888, 1,903, 1,883) *2,420
Average Single Family Home List Price: $362,333 ($338k,$355k, $326k,$321k) *$301k
Average Single Family Home Selling Price: $354,106 ($328k,$345k,$317k,$316k) *$292k
Single Family Home Sale to List Ratio This Week: 98% (97%, 97%, 98%, 99%) *97%
Median Single Family Home List Price (6 mo): $304,000 ($300k,$300k,$299k,$300k)*$287k
Median Single Family Home Sold Price (6 mo):$300,000 ($290k,$290k,$290k,$298k)*$280k
Average Days on Market Single Family Home: 55 (51, 51, 37, 51) *66
Active Condos: 210 (213, 213, 223, 225) *377
Average Condo Listing Price: $248,608 ($250k, $267k, $243k, $279k) *$247k
Average Condo Selling Price: $242,610 ($244k, $260k, $241k, $271k) *$243k
Condo Sale to List Ratio This Week: 98% (97%, 97%, 99.5%, 97%) 98%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k
Median Condo Sold Price (6 mo): $239,900 ($241k, $241k, $240k, $221k) *$223k
Average Days on Market Condos: 50 (38, 38, 31, 79)*56
Active Vacant Lots: 939 (937, 947, 953, 949) *1,071
If there was any question about the current market in Halifax breaking trend and keeping the surge going, have no fear, the stats are following the usual path with slight variations. Sales took a bit of a hit this week, but long weekends tend to adversely affect the numbers, so I don't think that should be a cause for concern. Although the sales were a bit lacking, buyers were still out in full force with a solid 198 accepted offer showing. Some long weekends actually assist with sales since there's that extra day to go through a few more properties. Single family home values hit a precedent this week, and reported over $300k in not only the 6 month median list price, but the 6 month median sold price for the first time since tracking this stat. The 6 month median list price has been hovering around the $300k mark for the last month or so, but has failed to completely break the ceiling, until this week that is. There was a significant jump to both those stats a few months ago, adding an unusual 5k to the top in the span of a couple of weeks. It appears this week has the same result, just with less time. We all knew that the Spring time had a major impact on the market here, now the affects seem to be coming home to roost. It will be interesting to see just how much the market past will influence the market future, and the numbers as we head down the stretch. Make sure to stop by and stay on top of things. Thanks for stopping by!
The Weekly Adogtable!!
Topaz was surrendered due to food allergies. Topaz has moderate energy, and is house trained! An easy dog in a calm environment, and would be a great candidate as a therapy dog or an emotional support dog. He is OK with calm, respectful female dogs but is reactive to male dogs. Topaz is cat friendly! Unsure about kids, but will try to test to better recommend.
This "cuddly companion" is available through Good Bones Dog Rescue, 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