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 19th - October 26th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 249 (227, 233, 315, 267) *237
Sold: 136 (126, 131, 124, 148) *102
Sale To Listing Ratio: 55% (56%, 56%, 40%, 55%) *43%
Price Changes: 195 (196, 166, 190, 219) *193
Listings that went conditional/pending: 158 (158, 109, 162, 149) *125
Expired/Cancelled/Withdrawn: 112 (133, 117, 301, 111) *130
Total Active Halifax/Dartmouth Inventory: 4,438 (4,450, 4,519, 4,500, 4,613) 5,085
Absorption Rate in weeks: 34 (34, 33, 32, 33) *43
Single Family Home Stats
Active Single Family Home: 2,687 (2,693, 2,753, 2,750, 2,837) *3,162
Average Single Family Home List Price: $291,627 ($282k, $354k.$289k,$299k) *$286k
Average Single Family Home Selling Price: $281,678 ($273k, $336k, $277k,$289k) *$274k
Single Family Home Sale to List Ratio This Week: 97% (97%, 95%, 96%, 97%) *96%
Median Single Family Home List Price (6 mo): $274,900 ($275k, $275k,$275k,$279k)*$275k
Median Single Family Home Sold Price (6 mo): $267,400 ($268k, $270k,$270k,%270k)*$267k
Average Days on Market Single Family Home: 99 (73, 78, 94, 70) *91
Active Condos: 402 (401, 413, 407, 416) *491
Average Condo Listing Price: $245,237 (%235k, $263k, $294k, $264k) *$216k
Average Condo Selling Price: $233,342 ($223k, $253k, $281k, $255k) *$205k
Condo Sale to List Ratio This Week: 95% (95%, 96%, 96%, 97%) 95%
Median Condo List Price (6 mo): $244,800 ($245k, $245k, $245k, $245k) *$236k
Median Condo Sold Price (6 mo): $239,500 ($235k, $236k, $236k, $235k) *$228k
Average Days on Market Condos: 125 (118, 121, 115, 146) *110
Active Vacant Lots: 1,093 (1,103, 1,111, 1,106, 1,123) *1,158
If there was any indication that the trending balanced market was just a passing fad, the stats have proven otherwise. As we approach the end of October, the solid market reports that we have seen all year continues its push. Average number of new additions this week, but the sales are still reporting strongly. Among other factors, the warmer weather may be contributing to Buyer activity, as we enjoy a rather balmy Autumn for now. Inventory is still reporting lower than this time last year, but that gap seems to be closing week to week. This event isn't really an anomaly however, as inventory across the board traditionally reduces until the lowest point, bottoming out at the end of December. The real test comes in the peak months from April to June, where inventory usually peaks.. Overall market values remain slightly down this week, but are still reporting higher than last year at this time. The big news is the continued strength of the absorption rate. Not surprising though, since our market year has seen a higher than normal low listing vs higher sales count. Nine weeks from last year is pretty impressive though. Stay tuned as we edge closer to the end of the market year to stay up to date. Have a Happy Halloween, and thanks for stopping by!
The Weekly Adogtable!
Maddox is a happy, rambunctious young dog with a lot of energy to burn! You'll need a strong set of lungs and good running legs to keep up with him, because he just wants to MOVE! He has yet to learn that sharing is caring, and will display guarding behaviour specifically over toys- for this reason, he would do best in a home with an adopter who is experienced and confident, and older children who understand when he needs his space. Maddox would be thrilled to explore all your favourite outdoor places (and the comfiest spot on your bed). He prefers to be spoiled with love instead of treats, but we're sure he's bound to have a favourite that we have yet to discover.
Maddox's ideal home environment would be:
-Without other animals (due to high reactivity)
-With children over the age of 12
-Experienced adopters who understand dog behaviours
-Proof of registration in obedience training mandatory upon adoption
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