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 March 10th - March 17th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 356 (345, 366, 266, 254) *344
Sold: 140 (100, 116, 100, 95) *97
Sale To Listing Ratio: 39% (29%, 32%, 38%, 37%) *29%
Price Changes: 133 (140, 141, 139, 121)
Listings that went conditional/pending: 149 (141, 172, 142, 117) *108
Expired/Cancelled/Withdrawn: 73 (163, 77, 104, 115) *64
Total Active Halifax/Dartmouth Inventory: 4,593 (4,466, 4,347, 4,303, 4,261) *4,493
Absorption Rate in weeks: 40 (44, 44, 45, 44) *48
Single Family Home Stats
Active Single Family Home: 3,032 (2,914, 2,829, 2,777, 2,739) *2,885
Average Single Family Home List Price: $286,443 ($283k, $281k, $281k, $274k) *$298k
Average Single Family Home Selling Price: $275,711 ($274k, $272k, $269k, $260k) *$288k
Single Family Home Sale to List Ratio This Week: 96% (97%, 97%, 96%, 95%) *97%
Median Single Family Home List Price: $266,950($245k, $260k, $272k, $250k)
Median Single Family Home Sold Price: $258,000 ($235k, $257k, $265k, $237k)
Average Days on Market Single Family Home: 94 (93, 100, 90, 105) *115
Active Condos: 421 (416, 402, 400, 394) *488
Average Condo Listing Price: $225,190 ($256k, $305k, $277k, $260k) *$256k
Average Condo Selling Price: $215,727 ($247k, $295k, $268k, $252k) *$247k
Condo Sale to List Ratio This Week: 96% (96%, 97%, 96%, 97%) *97%
Median Condo List Price: $159,900 ($250k, $301k, $191k, $220k)
Median Condo Sold Price: $152,000 ($238k, $295k, $186k, $215k)
Average Days on Market Condos: 119 (109, 80, 121, 126) *75
Active Vacant Lots: 928 (922, 901, 903, 900) *860
Well that was short lived. As you can see, we have successfully surpassed the inventory levels of last year at this time this week. I think it was bound to happen eventually, and I'm actually surprised it hasn't happened sooner. I was looking at pictures the other day that were taken today last year, and it was of my fella's playing in about 3-4 feet of fresh snow. So if it was a crusher of a winter last year, and a dandy of one this year, then you would expect activity to be somewhat affected by the difference. I'm just surprised it took so long. That being said, I still think there was some solid ground work early this year, and the true reflection of activity up to this point will be reflected early this summer. Buyer activity is still up and sales are still much better than the last couple of years, and even with the uncontrollable variable of the weather in play, the market is showing critical signs of improvement so far this year.
Stay tuned to keep track of all the ups and downs of the Halifax real estate market, and be sure to check back soon for the February wrap up! Thanks for stopping by!
Hemlock is estimated at 5 years old. His lovely haircut can be attributed to the state in which he came into our care, very matted and dirty. Now with his stylish new look he is on the search for a family to call his own.
Hemlock is looking to find a home with adults only that are willing to help teach him house manners.
This "cuddly companion" is available through the the Dartmouth SPCA, 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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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