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 April 4th-11th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 363 (408, 291, 260, 251) *378
Sold: 168 (147, 155, 139, 146) *121
Sale To Listing Ratio: 46% (36%, 53%, 55%, 58%) *32%
Price Changes: 141 (143, 105, 69, 101) *143
Listings that went conditional/pending: 246 (214, 190, 161, 169) *163
Expired/Cancelled: 54 (161, 67, 75, 61) *179
Total Active Halifax/Dartmouth Inventory: 3,221 (3,204, 3,181, 3,147, 3,160) +3,904
Absorption Rate in weeks: 21 (22, 23, 24, 25) *32
Single Family Home Stats
Active Single Family Home: 1,802 (1,780, 1,720, 1,688, 1,700) *2,211
Average Single Family Home List Price: $327,564 ($366k,$381k,$365k,$337k) *$342k
Average Single Family Home Selling Price: $336,831 ($356k,$370k,$258k,$330k) *$333k
Single Family Home Sale to List Ratio This Week: 103% (97%, 97%,98%, 98%) *97%
Median Single Family Home List Price (6 mo): $289,900 ($290k,$290k,$290k,$289k)*$280k
Median Single Family Home Sold Price (6 mo):$284,700 ($284k,$284k,$280k,$280k)*$272k
Average Days on Market Single Family Home: 54 (71, 62, 68, 55) *82
Active Condos: 251 (248, 255, 254, 260) *370
Average Condo Listing Price: $319,305 ($314k, $252k, $237k, $295k) *$290k
Average Condo Selling Price: $322,483 ($304k, $246k, $228k, $285k) *$281k
Condo Sale to List Ratio This Week: 101% (97%, 97%, 96%, 97%) 97%
Median Condo List Price (6 mo): $248,250 ($248k, $240k, $239k, $240k) *$239k
Median Condo Sold Price (6 mo): $241,000 ($241k, $232k, $230k, $232k) *$232k
Average Days on Market Condos: 76 (60, 82, 54, 51) *167
Active Vacant Lots: 918 (923, 948, 938, 939) *979
Bit of a strange one this week. Marginal inventory gain overall, but a couple products reduced this week scuffing the overall report. Not a huge dump of inventory to the market this week either, but buyer activity was in full force again with an above average showing of listings that turned from active to pending. Not a ton of expiries or cancelled listings this week either, and how you can blame them? I know that if I was selling in this market I would hold out too! Chances of selling are quite good right now anyways, and pretty much guaranteed in certain areas of the city, so it's no wonder that there wasn't too many listings dropping from the market in that fashion. I'm sure there's a few properties that made this an issue, but there is now statistics reflecting the above asking prices rampant in certain areas. Other factors, like additions to a new construction base price can sway this as well, but this is the first time I have seen the average sales prices flipped. The median value did the same this week (7 days back) at $290k and $294. So yeah, a bit of a mixed bag this week. Looks like it's going to be a Spring to remember! Stay tuned to stay on top of things, and thanks for stopping by!
The Weekly Adogtable!
Ginger is an ~8 year old spayed female amstaff , bull mastiff mix.
She would prefer a home with children 14 years and older.
Obedience is optional for her new owner(s).
I want you to provide me with lots of love and a new place to call my own and I will spice up yo life! Ginger is a sweet girl who loves to lay at your feet and get belly rubs. She has spent a bit too much time perfecting this trick and now needs to learn a new one that will help her loose some weight. If you would like to help Ginger shed a few pounds, please come take her 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!
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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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah