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 October 24th - 31st, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 195 (262, 212, 283, 243) *244
Sold: 153 (172, 142, 158, 164) *121
Sale To Listing Ratio: 79% (66%, 67%, 56%, 67%) *50%
Price Changes: 142 (137, 137, 157, 127) *165
Listings that went conditional/pending: 183 (204, 185, 183, 166) *140
Expired/Cancelled: 83 (75, 94, 85, 210) *281
Total Active Halifax/Dartmouth Inventory: 2,788 (2,902, 2,934, 2,989, 2,981) +3,731
Absorption Rate in weeks: 18 (18, 18, 17, 17) *31
Single Family Home Stats
Active Single Family Home: 1,484 (1,555, 1,609, 1,625, 1,624) *2,189
Average Single Family Home List Price: $351,660 ($339k,$317k,$353k,$351k) *$292k
Average Single Family Home Selling Price: $344,236 ($333k,$314k,$346k,$336k) *$281k
Single Family Home Sale to List Ratio This Week: 98% (98%, 99%, 98%, 96%) *96%
Median Single Family Home List Price (6 mo): $309,900 ($310k,$310k,$309k$308k)*$289k
Median Single Family Home Sold Price (6 mo):$305,000 ($305k,$304k,$302k,$301k)*$280k
Average Days on Market Single Family Home: 58 (65, 58, 60, 68) *63
Active Condos: 184 (193, 199, 207, 199) *313
Average Condo Listing Price: $265,685 ($273k, $228k, $258k, $300k) *$287k
Average Condo Selling Price: $259,150 ($276k, $226k, $243k, $270k) *$277k
Condo Sale to List Ratio This Week: 98% (98%, 99%, 94%, 90%) 96%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) $230k
Median Condo Sold Price (6 mo): $240,000 ($240k, $240k, $241k, $243k) *$224k
Average Days on Market Condos: 67 (72, 61, 38, 78) *155
Active Vacant Lots: 897 (918, 891, 906, 901) *1,027
Oh so close! Another solid week of inventory loss has caused the gap between this year and last to grow, and it is just that close to reaching a 1000 unit spread. That's a pretty significant inventory loss overall in a very short time. All tracked products did see reduction this week with single family homes taking the largest hit, continuing the void of this missing inventory that is still being felt across the region. Nothing is really coming to market either. It has been week after week of lower than average listing additions and higher than average sales numbers, so that minimal trickle to the market is being snapped up fairly quickly. Average home sales still sit around the two month mark for single family homes, and ten weeks (respectively) for condos. Both products are seeing their time on market durations shrink as well, which is in direct relation to the current market environment. Activity does seem to be waining on the front lines though, so I anticipate seeing that reflected in the coming reports in the weeks ahead. Make sure to stop by to see if my prediction is right, and thanks for stopping by!
The Weekly Adogtable
Trapper is a ~1 year old neutered male rottie/shepherd mix.
He would prefer a home with adults only.
Obedience is mandatory for his new owner(s) as he is still a puppy.
This puppies body is growing faster than his puppy brain but Trapper is eager to learn and please. Trapper needs a dog experienced, patient owner who can help him achieve his full potential which we believe could be a well mannered, loyal best friend. This guy is a big, bouncy boy but he settles well and enjoys interacting with his people. He will seek out your affection and have a toy ready for a good game of fetch. If you would like to meet Trapper and take him for a walk, please come prepared with appropriate footwear. Trapper is waiting to meet you!
This "cuddly companion" is available through the NS SPCA, 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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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