The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty
Halifax (HRM) Residential Market Statistic Update For Week of December 10 - December 17th, 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 247 (197, 232, 241, 248) *208
Sold: 82 (84, 116, 102, 125) *70
Sale To Listing Ratio: 43% (43%, 50%, 42%, 50%) *45%
Price Changes: 121 (118, 166, 214, 219)
Listings that went conditional/pending: 100 (99, 99, 109, 114) *67
Expired/Cancelled/Withdrawn: 311 (154, 525, 185, 199) *210
Total Active Halifax/Dartmouth Inventory: 4,850 (4,850, 4,893, 5,235, 5,278) *4,573
Absorption Rate in weeks: 45 (45, 44, 50, 49) 52
Single Family Home Stats
Active Single Family Home: 3,144 (3,144, 3,174, 3,427, 3,472, 3,533) *2,928
Average Single Family Home List Price: $303,300 ($362k, $344k, $291k, $323k) *$301k
Average Single Family Home Selling Price: $290,192 ($346k, $327k, $279k, $303k) *$292k
Single Family Home Sale to List Ratio This Week: 96% (96%, 95%, 96%, 94%) *97%
Median Single Family Home List Price: $256,000 ($278k, $290k, $275k, $255k)
Median Single Family Home Sold Price: $248,500 ($276k, $283k, $263k, $246k)
Average Days on Market Single Family Home: 110 (102, 105, 104, 143) *122
Active Condos: 408 (408, 418, 432, 441) *421
Average Condo Listing Price: $218,903 ($219k, $350k, $270k, $220k) *$241k
Average Condo Selling Price: $208,250 ($208k, $326k, $260k, $209k) *$232k
Condo Sale to List Ratio This Week: 95% (95%, 93%, 96%, 95%) *96%
Median Condo List Price: $247,000 ($247k, $245k, $209k, $235k)
Median Condo Sold Price: $236,750 ($237k, $232k, $200k, $228k)
Average Days on Market Condos: 91 (91, 150, 91, 115) *134
Active Vacant Lots: 941 (1,036, 1,035, 1,071, 1,067) *941
Time of the season is starting to impose the affect of annual trend as we approach the holiday season, but there is still some positive progress being made despite the approaching bottom. Although sales reported a typical "winter week", the lack of new additions to the market actually gave the overall sales to list ratio some weight. Compared to last year, there is a lot of positive changes that should be noted, even if marginal. Comparably, new listings are down, sales are up, offer activity is up, there's more expired/cancelled inventory pulling from the market, days spent on market are less, values for both tracked products are up, and the absorption rate markedly lower then that of last years report. The only pressing thorn is the inventory amounts.
With condo inventory finally hitting par and eventually reporting under previous reports earlier in the year, single family homes and the overall inventory are still showing record heights. The gap is closing however, and one could hope that with the final stat falling in line, that we could see the start to a refreshing new market year. Thanks for stopping by!
Victor is a sweet, shy yet energetic boy searching for a new home. Victor knows most of his basic commands, and he even does a cute little dance for treats! He can be nervous in new settings, so his new family will need to be patient and take things slow with him until he is fully comfortable. We are recommending children over the age of 12 in his new home where he can be shy, and having a doggy friend will be dependant on the temperament because he can be a little dominant.
If you're interested in meeting this handsome fella, come on by today!!
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.
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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. Thanks for stopping by!
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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