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 29th - September 5th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 246 (245, 286, 273, 270) *208
Sold: 147 (158, 209, 154, 198) *126
Sale To Listing Ratio: 60% (65%, 73%, 56%, 73%) *61%
Price Changes: 140 (115, 168, 123, 167) *143
Listings that went conditional/pending: 189 (194, 198, 198, 204) *135
Expired/Cancelled: 141 (67, 89, 128, 134) *201
Total Active Halifax/Dartmouth Inventory: 3,132 (3,194, 3,216, 3,257, 3,263) +4,027
Absorption Rate in weeks: 19 (18, 17, 18, 17) *27
Single Family Home Stats
Active Single Family Home: 1,744 (1,775, 1,816, 1,852, 1,858) *2,287
Average Single Family Home List Price: $333,395 ($327k,$332k,$362k,$338k) *$333k
Average Single Family Home Selling Price: $327,024 ($321k,$324k,$354k,$328k) *$323k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 97%) *97%
Median Single Family Home List Price (6 mo): $306,000 ($305k,$305k,$304k,$300k)*$289k
Median Single Family Home Sold Price (6 mo):$302,000($300k,$302k,$300k,$290k)*$282k
Average Days on Market Single Family Home: 60 (53, 58, 55, 51) *66
Active Condos: 205 (203, 196, 210, 213) *331
Average Condo Listing Price: $292,773 ($280k, $287k, $249k, $250k) *$256k
Average Condo Selling Price: $287,213 ($276k, $278k, $243k, $244k) *$249k
Condo Sale to List Ratio This Week: 98% (98%, 97%, 98%, 97%) 97%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k
Median Condo Sold Price (6 mo): $243,000 ($243k, $240k, $240k, $241k) *$223k
Average Days on Market Condos: 27 (114, 60, 50, 38) *74
Active Vacant Lots: 916 (946, 937, 939, 937) *1,067
It's getting closer to the 1000 unit gap spread by the week! We hit just shy of 900 less products on the market this week compared to last, which doesn't seem like a lot, but the overall inventory reported a mere 4k last year an even more measly 3k this year (respectively), so to have such a drastic reduction over a years time is quite significant. There's not one specific product you can point a direct finger at, as they are all taking reductions, well, maybe the vacant land stat hasn't changed that much haha. New and back to market listings turned it up a notch this week for the time of year, but they were also met with a just as healthy sales and buyer activity report. A few more listings tham normal that pulled from the market this week, but I would imagine that the new school year and end of Summer may have something to do with it. Something else that may skew the numbers this week is the pending storm. If you haven't heard, there is a possible category 1 hurricane set to graze Halifax and cross over the province on Saturday, so home shopping may be put on hold this weekend. Between the storm, and back to school, I anticipate a fairly slow week on the market this week, but you never know! Stay tuned to the blog to see if there is really any changes, and stay safe out there! Thanks for stopping by!
The Weekly Adogtable!!
Kelly was surrendered as her family did not have time for her between their busy schedules and her energy requirements. Kelly is relaxed with all physical manipulations, is affectionate and excitable with people she knows, but is fearful of strangers initially. This sweet girl needs someone who will go slow with her as she has learned life can be a pretty scary place.
She growls at other dogs (likely a lack of socialization), is playful with toys, hardly barks and is crate trained. No small animals for Kelly and she is presently terrified of children.
Kelly will need basic obedience training.
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.
LET ME HELP YOU OUT!
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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