3Halifax (HRM) Residential Statistic Update for the Week of March 5th-12th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 336 (275, 234, 255, 262) *251
Sold: 158 (170, 180, 132, 130) *146
Sale To Listing Ratio: 47% (62%, 77%, 52%, 50%) *58%
Price Changes: 55 (55, 71, 59, 77) *100
Listings that went conditional/pending: 224 (193, 194, 206, 188) *169
Expired/Cancelled: 73 (72, 45, 49, 58) *61
Total Active Halifax/Dartmouth Inventory: 2,169 (2,148, 2,135, 2,137, 2,156) +3,160
Absorption Rate in weeks: 14 (14, 15, 17, 19) *25
Single Family Home Stats
Active Single Family Home: 1,147 (1,102, 1,105, 1,102, 1,105) *1,700
Average Single Family Home List Price: $392,563 ($323k,$342k,$345k,$333k) *$337k
Average Single Family Home Selling Price: $389,994 ($316k,$337k,$341k,$327k) *$330k
Single Family Home Sale to List Ratio This Week: 99% (98%, 98%, 99%, 98%) *98%
Median Single Family Home List Price (6 mo): $314,900 ($313k,$315k,$315k,$315k)*$289k
Median Single Family Home Sold Price (6 mo):$310,000 ($309k,$310k,$310k,$309k)*$280k
Average Days on Market Single Family Home: 59 (66, 62, 75, 57) *55
Active Condos: 137 (131, 128, 135, 141) *260
Average Condo Listing Price: $369,974 ($323k, $300k, $333k, $275k) *$295k
Average Condo Selling Price: $375,489 ($316k, $289k, $323k, $271k) *$285k
Condo Sale to List Ratio This Week: 101% (98%, 96%, 97%, 98%) 97%
Median Condo List Price (6 mo): $251,200 ($250k, $250k, $250k, $250k) *$240k
Median Condo Sold Price (6 mo): $248,000 ($242k, $241k, $242k, $243k) *$232k
Average Days on Market Condos: 78 (44, 30, 43, 78) *51
Active Vacant Lots: 743 (762, 754, 754, 760) *939
Alright! We have some inventory adding up finally. Large jumps in product inventory this week, with single family homes seeing the most significant gain. I imagine the weekly gain helped pad the numbers this week, but I don't see it lasting too long with the amount of pending sales that we seem to be taking on the regular. Both of those stats reported the highest of the season so far. I'm sure there was a few sales this week that took the single family home values over the top, but I think this is the first week that I have ever seen these numbers so close to the $500k mark. Taking a quick look, I didn't see any stand out, "over the top" listings to skew the average, so maybe there was just a few more listings that reported above the value norm this week. Still trekking along quite nicely, but the general question is how the Coronavirus will affect the national and local real estate markets. With mortgage rates dropping and Spring upon us, the local market will surly keep buzzing with activity. Some may argue that we will dive deeper into a Sellers market with the potential that sellers keep their homes off the market "just in case" causing even less to choose from, but people will need to move, so the demand will remain. It will certainly be a challenge, but with a few tweaks to the process, for now, we will certainly persevere. Stay tuned to the blog for your real estate updates, and thanks for stopping by!
The Weekly Adogtable!
Currently weighing 60 pounds Blue doesn't realize just how big he has gotten. He will run into you in his haste for attention. He LOVES to meet people and was living with children (although he was quite rough with them).
Good with cats
Selective but playful with dogs
Pulls on leash (no leash skills, but we're working on this). He jumps up and is mouthy (typical puppy behavior) but he does not resource guard. Blue is crate trained and has slight separation anxiety (is improving).
Blue loves to play ball and tug and is vocal when he sees someone or another dog.
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
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!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
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.
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