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 3rd -10th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 283 (243, 207, 265, 277) *227
Sold: 158 (164, 189, 192, 149) *131
Sale To Listing Ratio: 56% (67%, 91%, 72%, 54%) *48%
Price Changes: 157 (127, 124, 132, 121) *173
Listings that went conditional/pending: 183 (166, 187, 208, 168) *157
Expired/Cancelled: 85 (210,57, 66, 71) *88
Total Active Halifax/Dartmouth Inventory: 2,989 (2,981, 3,094, 3,139, 3,157) +3,881
Absorption Rate in weeks: 17 (17, 18, 19, 19) *26
Single Family Home Stats
Active Single Family Home: 1,625 (1,624, 1,685, 1,716, 1,751) *2,171
Average Single Family Home List Price: $353,194 ($351k,$331k,$351k,$318k) *$318k
Average Single Family Home Selling Price: $345,716 ($336k,$324k,$342k,$312k) *$307k
Single Family Home Sale to List Ratio This Week: 98% (96%, 98%, 98%, 98%) *96%
Median Single Family Home List Price (6 mo): $309,000($308k,$309k,$309k,$309k)*$290k
Median Single Family Home Sold Price (6 mo):$302,000($301k,$302k,$303k,$303k)*$283k
Average Days on Market Single Family Home: 60 (68, 52, 54, 86) *81
Active Condos: 207 (199, 220, 220, 213) *321
Average Condo Listing Price: $257,450 ($300k, $256k, $275k, $285k) *$225k
Average Condo Selling Price: $242,450 ($270k, $249k, $267k, $276k) *$222k
Condo Sale to List Ratio This Week: 94% (90%, 98%, 98%, 97%) 99%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$227k
Median Condo Sold Price (6 mo): $240,500 ($243k, $245k, $243k, $244k) *$220k
Average Days on Market Condos: 38 (78, 34, 46, 68) *149
Active Vacant Lots: 906 (901, 936, 930, 916) *1,045
Bit of a funny one this week, so the gauge is a little off with knowing if it was an up or down week. Let's just call this one a mulligan. In a time where activity should be tapering off, especially as we approach a festive long weekend, things seem to be ramping up. I guess that is the marker of the 2019 market year here in Halifax; expect the unexpected. New listing addition shot up this week in a strange turn of the tides, but we're matched yet again with a soiled sales week, so that had little impact. Buyer activity is still in full effect with above average pending sales, and the overall market inventory sinks ever lower to the basement. Values held strong again this week, with only slight variation to the tracked products. This includes the six month averages between both condo and single family homes, which both remained relatively equal this week. Only the first couple of weeks into the Fall months, and it is proving to be a carry over season so far, and time will tell if it too will pass the torch to the following season, or go cold, just like the approaching months. Stay tuned to the blog to find out! Thanks for stopping by!
The Weekly Adogtable!!
Buffy is an active and playful girl. She is skeptical of strangers, and of other dogs, but once she knows them she is very playful with them. No cats. She knows her basic commands and is bilingual! She currently pulls on leash and likes to jump up but we are working on this. Her family will need to take her to a positive reinforcement trainer to set her up for success. Not recommended for kids under 10.
This "cuddly companion" is available through Good Bones Dog Rescue, 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!
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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