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 February 7th - February 14th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 248 (250, 175, 193, 220) *276
Sold: 114 (119, 94, 92, 72) *99
Sale To Listing Ratio: 46% (48%, 54%, 48%, 33%) *36%
Price Changes: 80 (103, 75, 61, 90) *103
Listings that went conditional/pending: 153 (133, 133, 120, 122) *125
Expired/Cancelled/Withdrawn: 75 (168, 98, 88, 87) *88
Total Active Halifax/Dartmouth Inventory: 3,096 (3,074, 3,091, 3,122, 3,139) +3,605
Absorption Rate in weeks: 30 (33, 38, X, X) *34
Single Family Home Stats
Active Single Family Home: 1,657 (1,671, 1,648, 1,670, 1,692) *1,932
Average Single Family Home List Price: $330,852 ($324k,$237k,$330k,$378k) *$304k
Average Single Family Home Selling Price: $323,826 ($315k,$349k,$297k,$366k) *$297k
Single Family Home Sale to List Ratio This Week: 98% (97%, 98%, 90%, 97%) *98%
Median Single Family Home List Price (6 mo): $289,500 ($289k,$289k,$285k,$285k)*$275k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$270k,$280k)*$268k
Average Days on Market Single Family Home: 66 (76, 77, 65, 76) *110
Active Condos: 254 (242, 241, 246, 249) *365
Average Condo Listing Price: $293,018 ($307k, $231k, $255k, $285k) *$284k
Average Condo Selling Price: $285,118 ($295k, $227k, $241k, $284k) *$276k
Condo Sale to List Ratio This Week: 97% (96%, 98%, 95%, 99%) 97%
Median Condo List Price (6 mo): $239,900 ($240k, $240k, $240k, $239k) *$238k
Median Condo Sold Price (6 mo): $232,000 ($230k, $232k, $230k, $230k) *$230k
Average Days on Market Condos: 60 (102, 120, 77, 114) *58
Active Vacant Lots: 918 (900, 942, 945, 936) *982
Alright, we finally have inventory gain! Condo's had a good increase, so to did vacant lots, but the star of the show (single family homes) decreased yet again this week. Not the news current buyers of that product are likely wanting to read, but sellers on the other hand likely welcome it. Certainly slim pickings out there right now in many areas, and the peninsula is basically unavailable in certain areas and price points. The market is still buzzing too, which means it's unlikely that things will get any better for buyers in the near future. Just take a look at the number of properties that went pending this week and how quickly the absorption rate is dropping, all signs leading to a continued sellers market. Single family home average days on market continued to drop again this week, which isn't really a surprise given how quickly things are moving. Values overall are reporting strong as well, and much higher (around 10%) than last year at this time. Also reflective of the market, since multiple offers and quick sales are commanding buyers to pay close to, or at listing price. In some cases, well over the asking price, which is something unheard of in Halifax. Shaping up to be an interesting year already, so make sure to stay tuned to the blog to stay on top of things! Thanks for stopping by!
The Weekly Adogtable!
On the hunt for your perfect valentine? Hawking is sure to steal your heart! This young fella is a smart, driven and playful charmer who really has a way with the ladies. At first, he may come off a little indifferent, but with a hearty play sesh and some TLC, he'll be sliding his way into your dm's, and your home, in no time!
Hawking would thrive in a home with consistency and lots of love. He loves having a job to do and is quick to pick up new tricks - although, he knows quite a few already. He gets along great with other dogs and children over 5, but would prefer to have no kitties in the home. .
This "cuddly companion" is available through Homeward Bound City Pound, 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah