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 September 28th - October 5th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 315 (267, 272, 322, 275) *321
Sold: 124 (148, 143, 156, 117) *139
Sale To Listing Ratio: 40% (55%, 53%, 48%, 43%) *43%
Price Changes: 190 (219, 218, 222, 188) *226
Listings that went conditional/pending: 162 (149, 165, 180, 152) *139
Expired/Cancelled/Withdrawn: 301 (111, 130, 121, 324) *420
Total Active Halifax/Dartmouth Inventory: 4,500 (4,613, 4,602, 4,637, 4,615) *5,161
Absorption Rate in weeks: 32 (33, 33, 33, 33) *37
Single Family Home Stats
Active Single Family Home: 2,750 (2,837, 2,833, 2,874, 2,861) *3,267
Average Single Family Home List Price: $288,609 ($299k,$298k,$284k,$290k) *$336k
Average Single Family Home Selling Price: $276,997 ($289k,$290k,$276k,$278k) *$323k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 97%, 96%) *96%
Median Single Family Home List Price (6 mo): $275,000 ($279k,$279k,$279k,$279k)*$287k
Median Single Family Home Sold Price (6 mo): $269,900 (%270k,$270k,$270k,$270k)*$270k
Average Days on Market Single Family Home: 94 (70, 69, 78, 86) *87
Active Condos: 407 (416, 413, 412, 408) *471
Average Condo Listing Price: $294,191 ($264k, $244k, $220k, $241k) *$315k
Average Condo Selling Price: $280,916 ($255k, $231k, $209k, $233k) *$299k
Condo Sale to List Ratio This Week: 96% (97%, 95%, 95%, 97%) 97%
Median Condo List Price (6 mo): $244,900 ($245k, $240k, $240k, $240k) *$320k
Median Condo Sold Price (6 mo): $235,500 ($235k, $230k, $230k, $230k) *$308k
Average Days on Market Condos: 115 (146, 82, 117, 74) *177
Active Vacant Lots: 1,106 (1,123, 1,126, 1,133, 1,141) *1,102
Is it October already? This year seems to have flown by! With the approach to the Thanksgiving weekend, activity overall might have been stunted a bit with Buyers and Sellers focusing on turkey day. Both new listings and sales were down this week, sending the sales to list ration tumbling as well. Buyer activity remained strong with 162 properties receiving and accepting offers, indicating that this years Buyer momentum hasn't throttled back that much. Accurate though, being on the front lines of property purchase and sales, I can attest to just how much the market has changed for both Buyer and Seller this year. For some it's a welcomed change (mostly Sellers), but others are met with frustration (mostly Buyers). Properties in certain areas are still accepting offers within days of listing, and some have what used to be a rare event happen to them...multiple offers. Inventory overall is in steady decline, which was certainly helped out by the bulk of listings that expired or cancelled from the market this week (most likely on the 1st), but the natural annual trend would have likely contributed as well. Still lots of action out there, so be sure to check in to stay up to date with the market! Happy Thanksgiving, and thanks for stopping by!
The Weekly Adogtable!
Might be a little bias to this weeks adogtable, he looks exactly like my Bruin! (also a rescue) I can tell you this breed is so kind and loving, just give him a chance!
1 broken canine, elbows worn
Will be vaccinated, dewormed and sterilized if a rescue accepts to take him. Normal stools. Tolerant with manipulations. When crated: barely vocal, calm when first approached, eats immediately (off the floor)
Submissive/polite/calm/playful with other dogs. Friendly with cats, horses & even chickens. Shy disposition with strangers.
Glutton with food. Uninterested in toys. Polite on leash. Hardly vocal. Pete is a calm dog, very independent, he does not play much. Loves car rides!
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about her 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 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..