The Halifax Real Estate Blog Weekly Market Rant and Statistics Update by Jeremiah Wallace of ViewPoint Realty (Thursdays)
9Halifax (HRM) Residential Statistic Update for the Week of February 6th -13th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 262 (246, 204, 194, 229) *248
Sold: 130 (114, 125, 89, 76) *114
Sale To Listing Ratio: 50% (46%, 61%, 46%, 33%) *46%
Price Changes: 77 (67, 62, 47, 51) *80
Listings that went conditional/pending: 188 (167, 163, 148, 137) *153
Expired/Cancelled: 58 (88, 57, 51) *75
Total Active Halifax/Dartmouth Inventory: 2,156 (2,144, 2,127, 2,148, 2,156) +3,096
Absorption Rate in weeks: 19 (21, X, X, X) *30
Single Family Home Stats
Active Single Family Home: 1,105 (1,092, 1,068, 1,080, 1,088) *1,657
Average Single Family Home List Price: $333,049 ($352k,$341k,$368k,$365k) *$331k
Average Single Family Home Selling Price: $326,472 ($338k,$340k,$364k,$353k) *$324k
Single Family Home Sale to List Ratio This Week: 98% (96%, 99%, 99%, 97%) *98%
Median Single Family Home List Price (6 mo): $314,900 ($315k,$315k,$315k,$315k)*$290k
Median Single Family Home Sold Price (6 mo):$309,000 ($309k,$309k,$310k,$309k)*$280k
Average Days on Market Single Family Home: 57 (67, 70, 62, 65) *66
Active Condos: 141 (143, 140, 144, 142) *254
Average Condo Listing Price: $274,784 ($271k, $241k, $301k, $289k) *$293k
Average Condo Selling Price: $271,259 ($265k, $236k, $294k, $287k) *$285k
Condo Sale to List Ratio This Week: 98% (98%, 98%, 98%, 99%) 97%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$240k
Median Condo Sold Price (6 mo): $242,950 ($242k, $241k, $240k, $240k) *$232k
Average Days on Market Condos: 78 (60, 20, 64, 69) *60
Active Vacant Lots: 760 (764, 766, 768, 773) *918
Looks like a bit of a repeat week this week, as a repeating pattern in the stats presents itself as we approach the mid point of February. Average new listing additions, slightly elevated sales, and a slow increase to the overall inventory level seem to be the new norm, but the stat really making itself heard is the conditional/pending numbers that indicates buyer activity for the week, highlighting the sheer demand that we currently face in todays market. Didn't take too long to shave off a few weeks of the absorption rate, which tends to move rather slow in either direction throughout the year, except for this time of year where things are starting to balance themselves again. It seems to be happening much faster this year however, and is incredibly lower than this year at this time. The big driver is the amount of weekly sales we are still handling, coupled with the increased buyer activity snatching everything up as it hits the market. Last year had a bit of a slow start, but when it got going there was no stopping it. Looks like it has no intention of stopping anytime soon either! Stay tuned to the blog to stay on top of all things Halifax real estate, and thanks for stopping by!
The Weekly Adogtable!
Enzo has received basic vaccination + Bordetella + Advantage Multi 100. Double declaws on back legs, Calm in his kennel. Was a bit fearful/timid w/ staff at first but got better socialized and he is just fine now. Good w/ all physical manipulations, a bit more sensitive w/ rear end/hips/flanks. No resource guarding. Takes treats gently. Good w/ cats OK w/ kids Playful w/ dogs (big and small). Not interested in playing w/ toys at the moment. Knows basic commands: sit, paw, lie down. Pulls a lot on leash. High energy level. Separation anxiety but would do okay with a kid or doggy in home , daycare or someone who works from home.
This "cuddly companion" is available through Good Bones Dog Rescue, 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