The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty
1Halifax (HRM) Residential Market Statistic Update For Week of November 19th - November 27th, 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 241 (248, 234, 291, 257) *252
Sold: 102 (125, 94, 98, 118) *110
Sale To Listing Ratio: 42% (50%, 40%, 34%, 46%) *44%
Price Changes: 214 (219, 184, 250, 274)
Listings that went conditional/pending: 109 (114, 108, 126, 107) *85
Expired/Cancelled/Withdrawn: 185 (199, 221, 729, 428) *133
Total Active Halifax/Dartmouth Inventory: 5,235 (5,278, 5,339, 5,4075,667) *5,074
Absorption Rate in weeks: 50 (49, 51, 53, 53) 51
Single Family Home Stats
Active Single Family Home: 3,427 (3,472, 3,533, 3,593, 3,792, 3,817) *3,292
Average Single Family Home List Price: $291,363 ($323k, $316k, $295k, $274k) *$294k
Average Single Family Home Selling Price: $278,641 ($303k, $298k, $292k, $263k) *$283k
Single Family Home Sale to List Ratio This Week: 96% (94%, 94%, 99%, 96%) *96%
Median Single Family Home List Price: $274,950 ($255k, $240k, $280k, $255k)
Median Single Family Home Sold Price: $263,000 ($246k, $230k, $270k, $261k)
Average Days on Market Single Family Home: 104 (143, 82, 115, 85) *116
Active Condos: 432 (441, 450, 445, 466) *458
Average Condo Listing Price: $270,223 ($220k, $222k, $440k, $286k) *$250k
Average Condo Selling Price: $260,234 ($209k, $213k, $430k, $279k) *$241k
Condo Sale to List Ratio This Week: 96% (95%, 94%, 98%, 97%) *96%
Median Condo List Price: $209,000 ($235k, $228k, 285k, $240k)
Median Condo Sold Price: $200,000 ($228k, $213k, $280k, $229k)
Average Days on Market Condos: 91 (115, 77, 76, 115) *175
Active Vacant Lots: 1,071 (1,067, 1,073, 1,073, 1,101) *1,007
Fairly average market performance this week, with marginal decline in the majority of key areas. Sales, although decent, did not have the strength this week to carry forward the outstanding showing of last week, but still showed solid enough for this time of year. Not enough transactions and listings pulling from the market to make a real impact this week, and although it continues, the gap close between this year and last year was minimal. Values remain strong, and days on market proved normal this week, with just over three months of exposure time on average before selling. So an average week for the market here in Halifax, and I would imagine as the market year comes to an end we will see more weeks like this. Stay tuned to find out!
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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