The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of VIewPoint Realty.
Halifax (HRM) Residential Statistic Update for the Week of August 2nd - 9th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 241 (309, 341, 359, 335) *287
Sold: 167 (176, 163, 182, 174) *140
Sale To Listing Ratio: 69% (57%, 48%, 51%, 52%) *49%
Price Changes: 165 (198, 201, 249, 206) *196
Listings that went conditional/pending: 130 (219, 199, 207, 175) *151
Expired/Cancelled/Withdrawn: 68 (183, 90, 112, 229) *115
Total Active Halifax/Dartmouth Inventory: 4,213 (4,195, 4,273, 4,233, 4,225) +4,804
Absorption Rate in weeks: 25 (24, 23, 22, 22) *32
Single Family Home Stats
Active Single Family Home: 2,420 (2,409, 2,452, 2,446, 2,457) *2,974
Average Single Family Home List Price: $301,438 ($315k,$325k,$332k, $308k) *$310k
Average Single Family Home Selling Price: $292,384 ($305k,$316k,$323k,$299k) *$302k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 97%, 96%) *97%
Median Single Family Home List Price (6 mo): $286,999 ($289k,$289k,$289k,$290k)*$280k
Median Single Family Home Sold Price (6 mo):$280,000 ($281k,$280k,$280k,$280k)*$271k
Average Days on Market Single Family Home: 66 (88, 61, 55, 69) *70
Active Condos: 377 (381, 384, 392, 408) *440
Average Condo Listing Price: $246,950 ($211k, $227k, $236k, $212k) *$276k
Average Condo Selling Price: $243,000 ($208k, $220k, $226k, $204k) *$271k
Condo Sale to List Ratio This Week: 98% (98%, 97%, 96%, 96%) 98%
Median Condo List Price (6 mo): $229,900 ($230k, $230k, $235k, $235k) *$235k
Median Condo Sold Price (6 mo): $222,700 ($223k, $221k, $225k, $225k) *$225k
Average Days on Market Condos: 56 (100, 81, 117, 69) *82
Active Vacant Lots: 1,071 (1,055, 1,068, 1,018, 994) *1,158
I can tell you what most people weren't doing this holiday weekend...buying property! haha. Even listing activity was down, but that slash in buyer activity with an 89 point drop was significant. It was a perfect weekend for weather, and lots of great activities around the province to check out, so it's no doubt that a bump like this is likely to occur every once in awhile. Oddly enough, this week also witnessed a turn-around in the inventory department. Both vacant land and single family home amounts increased, which in turn sent the overall inventory level back up! Strange times indeed, since we are usually in a downward trend around this time of year. It is still a busy market, although the pace has seems to be trending downwards, but all that can change with a few weeks of activity in either direction. You'll have to stay tuned to the blog to find out how the rest of the Summer reports! Thanks for stopping by, and don't forget to hit the like button at the end of the post :)
The Weekly Adogtable
Paddy is a happy-go-lucky boy with a heart of gold and a sparkling personality. He prefers people to toys and would love to take you for a walk outdoors. He shows his affection through licks and grunts which just adds to the cuteness!
Paddy still needs to work on his manners so his future family should be committed to working with him or enrolling him in obedience classes.
Paddy's ideal home:
- With children over the age of 10
- With or without other animals
Paddy's adoption is by appointment only. To schedule an appointment, send us an email at firstname.lastname@example.org
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