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 August 16th - 23rd, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 294 (255, 241, 309, 341) *298
Sold: 147 (146, 167, 176, 163) *151
Sale To Listing Ratio: 50% (57%, 69%, 57%, 48%) *51%
Price Changes: 158 (153, 165, 198, 201) *189
Listings that went conditional/pending: 179 (158, 130, 219, 199) *149
Expired/Cancelled/Withdrawn: 142 (113, 68, 183, 90) *94
Total Active Halifax/Dartmouth Inventory: 4,194 (4,200, 4,213, 4,195, 4,273) +4,817
Absorption Rate in weeks: 26 (26, 25, 24, 23) *33
Single Family Home Stats
Active Single Family Home: 2,392 (2,410, 2,420, 2,409, 2,452) *2,974
Average Single Family Home List Price: $317,972 ($314k,$301k,$315k,$325k) *$268k
Average Single Family Home Selling Price: $307,806 ($303k,$292k,$305k,$316k) *$259k
Single Family Home Sale to List Ratio This Week: 97% (96%,97%, 97%, 97%) *97%
Median Single Family Home List Price (6 mo): $289,000 ($289k,$287k,$289k,$289k)*$280k
Median Single Family Home Sold Price (6 mo):$280,900 ($281k,$280k,$281k,$280k)*$270k
Average Days on Market Single Family Home: 69 (71, 66, 88, 61) *75
Active Condos: 357 (379, 377, 381, 384) *420
Average Condo Listing Price: $287,000 ($277k, $247k, $211k, $227k) *$259k
Average Condo Selling Price: $282,000 ($267k, $208k, $220k) *$250k
Condo Sale to List Ratio This Week: 97% (97%, 98%, 98%, 97%) 97%
Median Condo List Price (6 mo): $229,900 ($230k, $230k, $230k, $230k) *$245k
Median Condo Sold Price (6 mo): $221,000 ($221k, $223k, $223k, $221k) *$232k
Average Days on Market Condos: 118 (132, 56, 100, 81) *101
Active Vacant Lots: 1,084 (1,060, 1,071, 1,055, 1,068) *1,196
Has momentum shifted again? As we approach the end of the Summer market, there are several things that might be influencing some of the stats. Leftover products from the late Spring months might finally be in retreat, buyers and sellers are out to enjoy the last minutes of their holiday time before getting back to the grind, or simply, it may be time to relax on the hammock. The thing is, activity has actually ramped up once again, and you can feel the wind in the sails of the Halifax real estate market yet again! Although most of the stats may take a little time to catch up, one of the biggest indicators is the amount of properties that received and accepted offers, reflected in the conditional/pending stat. This too can be confirmed by myself, and peers, who have seen the inquiries and showing numbers inflate in quick fashion. Still lots of time left in the Summer market, and I know I will be interested to see how things settle out. Make sure to stay tuned to the blog to find out how things shape up! Thanks for stopping by, and don't forget to hit the like button at the end of the blog!
The Weekly Adogtable
Meet Dixie! Needs a spay. Vaccinated. Needs to lose weight. Ok with touching all over. Nervous in her kennel, barks but a cage is new to her and she is settling. Friendly with everyone. Doesn’t show interest in cats. Will go meet other dogs, she will be playful or independent depending on the other dog. Pulls on leash( don't they all)?
Nervous with loud noises or fast movements in a shelter environment respectful of dogs and highly adoptable.
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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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