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Halifax (HRM) Residential Statistic Update for the Week of September 19th - 26th, 2019 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 207 (265, 277, 246, 245) *285 Sold: 189 (192, 149, 147, 158) *174 Sale To Listing Ratio: 91% (72%, 54%, 60%, 65%) *61% Price Changes: 124 (132, 121, 140, 115) *172 Listings that went conditional/pending: 187 (208, 168, 189, 194) *164 Expired/Cancelled: 57 (66, 71, 141, 67) *127 Total Active Halifax/Dartmouth Inventory: 3,094 (3,139, 3,157, 3,132, 3,194) +4,030 Absorption Rate in weeks: 18 (19, 19, 19, 18) *27 Single Family Home Stats Active Single Family Home: 1,685 (1,716, 1,751, 1,744, 1,775) *2,258 Average Single Family Home List Price: $330,615 ($351k,$318k,$333k,$327k) *$308k Average Single Family Home Selling Price: $323,449 ($342k,$312k,$327k,$321k) *$299k Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 98%) *97% Median Single Family Home List Price (6 mo): $308,500 ($309k,$309k,$306k,$305k)*$290k Median Single Family Home Sold Price (6 mo):$302,400($303k,$303k,$302k,$300k)*$282k Average Days on Market Single Family Home: 52 (54, 86, 60, 53) *53 Condo Stats Active Condos: 210 (220, 213, 205, 203) *329 Average Condo Listing Price: $255,849 ($275k, $285k, $293k, $280k) *$213k Average Condo Selling Price: $249,316 ($267k, $276k, $287k, $276k) *$206k Condo Sale to List Ratio This Week: 98% (98%, 97%, 98%, 98%) 97% Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$230k Median Condo Sold Price (6 mo): $244,450 ($243k, $244k, $243k, $243k) *$221k Average Days on Market Condos: 34 (46, 68, 27, 114) *79 Active Vacant Lots: 936 (930, 916, 946, 937) *1,071 Market Rant Another good week of inventory reduction this week that almost pushed the spread to a 1000 product unit difference from last year to now, pretty impressive. There was a time during the Summer that appeared as though the inventory gap would narrow, and possibly close between the two years, but as the year pressed on it is now more evident than ever that it's not going to happen. This reduction could have been helped a bit by the below average new listing additions, solid sales report and relentless buyer activity, although you would expect a bit of balance from the fewer listings that retreated from the market this week compared to last, but that is also not the case. Because of the lack of listings this week, the sales to list ratio smashed a record with and whopping 91% showing, and reduced the absorption rate to 18 weeks, something that isn't common around this time of year. Values stabilized this week, and we actually witnessed the reversal of the surging single family home 6 month median price reduce for the first time since the Spring. Now, it was a small reduction, but it was still a reduction none the less. Rewind to February and the median price for SFH's reported roughly $20k less across a six month spread, which is no small stat based on that large of a window. Condo's also felt the increase as well, with a $20k variance in value from last year at this time. There was a couple key weeks later in the Spring that contributed to the value surge, and I reported on the incredible amount increase in key times of the Summer, sometimes by $5k in a single week! This was also the first year that the SFH 6 month median list and sales reported over $300k historically, and for this length. Values tend to trend in the upwards direction, so it will be surprising to see Halifax dip below the $300k mark again, but stay tuned to see if the pending Fall and Winter months have anything to say about it. Thanks for stopping by! The Weekly Adogtable!! This big guy is looking for a new place to call home. He can be a bit nervous at first, especially with men. However, give him some time and he will be asking you for some affection and treats as he sits and gives you a paw! Vito enjoys toys, in particular ones with a good squeak! If you are interested in meeting Vito, he is waiting for you to take him for a walk. This "cuddly companion" is available through the Nova Scotia SPCA, 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! 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!  VIEWPOINT REALTY
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 Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. 
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