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 October 11th - 18th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 283 (227, 272, 285, 280) *227
Sold: 141 (108, 138, 174, 167) *126
Sale To Listing Ratio: 50% (48%, 51%, 61%, 60%) *56%
Price Changes: 124 (173, 174, 172, 163) *196
Listings that went conditional/pending: 140 (157, 154, 164, 176) *158
Expired/Cancelled/Withdrawn: 129 (88, 274, 127, 111) *133
Total Active Halifax/Dartmouth Inventory: 3,889 (3,881, 3,894, 4,030, 4,026) +4,450
Absorption Rate in weeks: 28 (26, 25, 27, 28) *34
Single Family Home Stats
Active Single Family Home: 2,163 (2,171, 2,186, 2,258, 2,283) *2,693
Average Single Family Home List Price: $326,863 ($318k,$346k,$308k,$303k) *$282k
Average Single Family Home Selling Price: $316,608 ($307k,$338k,$299k,$295k) *$283k
Single Family Home Sale to List Ratio This Week: 97% (96%, 98%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $289,900 ($280k,$290k,$290k,$290k)*$275k
Median Single Family Home Sold Price (6 mo):$283,000 ($283k,$283k,$282k,$283k)*$268k
Average Days on Market Single Family Home: 71 (81, 70, 53, 56) *73
Active Condos: 317 (321, 319, 329, 328, 330) *401
Average Condo Listing Price: $234,775 ($225k, $244k, $213k, $323k) *$235k
Average Condo Selling Price: $227,847 ($222k, $238k, $206k, $314k) *$223k
Condo Sale to List Ratio This Week: 97% (99%, 97%, 97%, 97%) 95%
Median Condo List Price (6 mo): $225,000 ($227k, $230k, $230k, $230k) *$245k
Median Condo Sold Price (6 mo): $220,000 ($220k, $221k, $221k, $221k) *$235k
Average Days on Market Condos: 125 (149, 112, 79, 105) *118
Active Vacant Lots: 1,080 (1,045, 1,043, 1,071, 1,067) *1,103
Is there finally a crack in the veneer, or are we in full swing of the Fall market decline? I would lean towards the latter since its been a great market year so far, but I can acknowledge that there does seem to be an activity wane from the last few weeks. Still, we are reporting better than last year at this time, which was reporting better than several years up to that point, so we are still in good shape. Inventory gained a touch this week, but that can be attributed to a bulk of vacant land that hit the market, as the other tracked products both took reductions. Not surprising that the absorption rate edged up a couple weeks, with average-low sales and consistent listing additions, but again, it is well off last years mark, and that's a good thing. So, it might be an average week, and things might be slowing down, but this is the trend for this time of year so there is no cause for alarm. Usually, this time of year is even sleepier than this, but there are still pockets of communities and price points that have yet to feel it. Interesting times indeed. Make sure to check in and stay on top of our ever changing market landscape! Thanks for stopping by, and don't forget to hit the LIKE button at the bottom of the post!
The Weekly Adogtable!
Meet Sam. He needs a neuter and chip on us) Age: 1-2 years old Vaccinated Crate trained. Well socialized w/ humans Loves attention and you can touch him all over. No resource guarding. Takes treats gently. Playful w/ female dogs and prefers them over males. Cats unknown. Energetic, Knows basic command: sit Pulls a bit on leash. Not recommended w/ small children as he is strong and may accidentally knock them over.
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
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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