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 September 5th - 12th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 277 (246, 245, 286, 273) *227
Sold: 149 (147, 158, 209, 154) *141
Sale To Listing Ratio: 54% (60%, 65%, 73%, 56%) *62%
Price Changes: 121 (140, 115, 168, 123) *161
Listings that went conditional/pending: 168 (189, 194, 198, 198) *165
Expired/Cancelled: 71 (141, 67, 89, 128) *89
Total Active Halifax/Dartmouth Inventory: 3,157 (3,132, 3,194, 3,216, 3,257) +4,031
Absorption Rate in weeks: 19 (19, 18, 17, 18) *29
Single Family Home Stats
Active Single Family Home: 1,751 (1,744, 1,775, 1,816, 1,852) *2,288
Average Single Family Home List Price: $317,793 ($333k,$327k,$332k,$362k) *$336k
Average Single Family Home Selling Price: $312,181 ($327k,$321k,$324k,$354k) *$323k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 98%) *96%
Median Single Family Home List Price (6 mo): $308,500 ($306k,$305k,$305k,$304k)*$290k
Median Single Family Home Sold Price (6 mo):$302,500($302k,$300k,$302k,$300k)*$283k
Average Days on Market Single Family Home: 86 (60, 53, 58, 55) *67
Active Condos: 213 (205, 203, 196, 210) *330
Average Condo Listing Price: $285,229 ($293k, $280k, $287k, $249k) *$254k
Average Condo Selling Price: $275,670 ($287k, $276k, $278k, $243k) *$244k
Condo Sale to List Ratio This Week: 97% (98%, 98%, 97%, 98%) 96%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k
Median Condo Sold Price (6 mo): $243,450 ($243k, $243k, $240k, $240k) *$221k
Average Days on Market Condos: 68 (27, 114, 60, 50) *122
Active Vacant Lots: 930 (916, 946, 937, 939) *1,069
Well that's a bit peculiar. The usual trend around this time of year has the inventory declining week to week, until it hits the lowest point of the year, which is usually around the last week of the year. However, this week decided to buck that trend by increasing in volume across all tracked products! Certainly interesting, especially with a hurricane that should have halted most activity for the week, when in fact, the market activity hardly skipped a beat! With sellers listing, buyers buying, and other buzzing activity going on, it goes to show that there doesn't seem to be much that is going to stop this market anytime soon, or is there? There are cracks in the veneer starting to show, with a slight reduction in the current week values, and days on market took a bump as well, but could those be regular attributes of the annual trend, or are they indicators that a bit more is happening? The market reports like a snake on the move; you may see the head of it right away, but you really don't get to see the overall size of it until the rest of the body catches up. So too is the market, where historical data can be marched to current reports to compare change, but the impact of the current report isn't measured until time has passed to solidify the change. So make sure you keep tuned to the Halifax Real Estate Blog to stay on top of things! Thanks for stopping by!
The Weekly Adogtable!!
Myers is a pretty friendly, happy-go-lucky dude. He was surrendered because of his skin allergies, but with a good quality food - his skin is coming around nicely! Myers just LOVES to play with other dogs, ignores cats and really enjoys going for walks. He is a vocal, happy boy that is energetic, and loves to chew on his chew toys and bones. Myers understands french commands, so will need help learning the english ones.
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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Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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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