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 April 18th-25th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 329 (359, 363, 408, 291) *350
Sold: 206 (232, 168, 147, 155) *185
Sale To Listing Ratio: 63% (64%, 46%, 36%, 53%) *53%
Price Changes: 139 (135, 141, 143, 105) *202
Listings that went conditional/pending: 186 (250, 246, 214, 190) *246
Expired/Cancelled: 69 (73, 54, 161, 67, 75) *87
Total Active Halifax/Dartmouth Inventory: 3,312 (3,233, 3,221, 3,204, 3,181) +4,034
Absorption Rate in weeks: 18 (18, 21, 22, 23) *25
Single Family Home Stats
Active Single Family Home: 1,860 (1,798, 1,802, 1,780, 1,720) *2,311
Average Single Family Home List Price: $335,469 ($323k,$328k,$366k,$381k) *$366k
Average Single Family Home Selling Price: $329,415 ($315k,$337k,$356k,$370k) *$356k
Single Family Home Sale to List Ratio This Week: 98% (98%, 103%, 97%,98%) *97%
Median Single Family Home List Price (6 mo): $289,949 ($290k,$290k,$290k)*$283k
Median Single Family Home Sold Price (6 mo):$283,112 ($284k,$285k,$284k)*$276k
Average Days on Market Single Family Home: 65 (60, 54, 71, 62) *71
Active Condos: 257 (252, 251, 248, 255) *384
Average Condo Listing Price: $242,610 ($251k, $319k, $314k, $252k) *$226k
Average Condo Selling Price: $236,409 ($241k, $323k, $304k, $246k) *$226k
Condo Sale to List Ratio This Week: 97% (96%, 101%, 97%, 97%) 97%
Median Condo List Price (6 mo): $246,250 ($250k, $248k, $248k, $240k) *$237k
Median Condo Sold Price (6 mo): $241,000 ($245k, $241k, $241k, $232k) *$227k
Average Days on Market Condos: 65 (69, 76, 60, 82) *59
Active Vacant Lots: 936 (926, 927, 923, 948) *988
Now that's a bit more like it! There was a pretty decent addition to the overall inventory this week, and the gap is starting to close between this year and last, but I'm still wondering how it got there. New listings were somewhat average for this time of year, and so too were sales. Buyers activity cooled off a bit this week, which reported below the 200 mark for the first time in almost a week, but nothing was too far out of whack to cause major fluctuations. With this small inventory gain, the absorption rate remained on par, which is probably a good thing given the highly competitive sellers market that we find ourselves in. Still seeing hot areas in multiple offer situations and essentially vaporizing from the market, which has caused a build-up of would be buyers, leaving them frustrated and wondering when things will cool off. Average values are holding strong across the board, and there is the average annual gain ongoing, but if this market keeps up, we should see a higher than average annual gain this year due to the overages being paid during these multiple offer situations. In the peak of the market and things are not slowing down anytime soon it would appear, so make sure to stop by to stay on top of the market and get informed. Thanks for stopping by!
The Weekly Adogtable!
Roxy is a beautiful and kind soul. She is about 2-3 years old and looking for a home of her own.
She loves spending a lot of time in a comfy rocking recliner looking out the window soaking up the sun.
She was amazingly patient with her babies, and now looking for a home to show her love and dedication to her humans. She loves cuddles, and flops over pretty fast for belly rubs the minute she is shown attention.
She is a playful girl, and her favorite toy is a bone. It will keep her occupied for ages.
She has been known not to love being along and so will need a family who is around more will be better for her.
She knows "give paw" "down" and "around" only in the counterclockwise direction. For some reason as hard as she tries she cannot complete a clockwise turn. On walks she doesn't like to get her feet wet or muddy and will only go out in the rain if you go with her. She figures if she's getting wet, so are you 😊
Roxy likes to bark to warn you that people are coming. She used to bark at everything she saw but she is gaining confidence and now barks far less. This is something the adopter will have to keep working on.
She is excellent on leash, and even an excellent running partner. She needs to be exercised daily or she gets excitable. A family that can meet her exercise needs is essential, a large fenced in yard where she can run around freely will be a bonus for her as she is not a fan of other dogs.
Kids 16+ for Roxy,
This "cuddly companion" is available through the Marleys Hope, 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 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