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 February 13th - 20th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 255 (262, 246, 204, 194) *248
Sold: 132 (130, 114, 125, 89) *114
Sale To Listing Ratio: 52% (50%, 46%, 61%, 46%) *46%
Price Changes: 59 (77, 67, 62, 47) *80
Listings that went conditional/pending: 206 (188, 167, 163, 148) *153
Expired/Cancelled: 49 (58, 88, 57) *75
Total Active Halifax/Dartmouth Inventory: 2,137 (2,156, 2,144, 2,127, 2,148) +3,096
Absorption Rate in weeks: 17 (19, 21, X, X) *30
Single Family Home Stats
Active Single Family Home: 1,102 (1,105, 1,092, 1,068, 1,080) *1,657
Average Single Family Home List Price: $345,327($333k,$352k,$341k,$368k) *$331k
Average Single Family Home Selling Price: $340,611 ($327k,$338k,$340k,$364k) *$324k
Single Family Home Sale to List Ratio This Week: 99% (98%, 96%, 99%, 99%) *98%
Median Single Family Home List Price (6 mo): $314,900 ($315k,$315k,$315k,$315k)*$290k
Median Single Family Home Sold Price (6 mo):$310,000 ($309k,$309k,$309k,$310k)*$280k
Average Days on Market Single Family Home: 75 (57, 67, 70, 62) *66
Active Condos: 135 (141, 143, 140, 144) *254
Average Condo Listing Price: $332,761 ($275k, $271k, $241k, $301k) *$293k
Average Condo Selling Price: $323,145 ($271k, $265k, $236k, $294k) *$285k
Condo Sale to List Ratio This Week: 97% (98%, 98%, 98%, 98%) 97%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$240k
Median Condo Sold Price (6 mo): $242,000 ($243k, $242k, $241k, $240k) *$232k
Average Days on Market Condos: 43 (78, 60, 20, 64) *60
Active Vacant Lots: 754 (760, 764, 766, 768) *918
Another drastic drop in the absorption rate this week, indicating that the market is still evaporating listings as they activate. Not too much of a surprise at this point, since the buyer activity seems to be relentless right now, just look at the listings that received and accepted offers this week, reflected in the conditional/pending stat! Those numbers are way up from this time last year, and they seems to be increasing as the month and season progresses. Overall, inventory took a bit of a haircut this week, more like a trim, which seems to be the battle this year. Just when you think numbers are finally starting to swell in this department, there's an anomaly week, or two, that go against the grain, like this week. Values are holding steady across the board, with little variation at this point, so the wonder is if these numbers will continue their upwards journey, or if we are setting our sites for an adjustment in the opposite direction. With all of the outside influences and positive growth news that we are experiencing in Nova Scotia (HRM specifically), I do believe we will be in for another banner year. Stay tuned to the blog to stay on top of our market here in Halifax, and don't forget, I'm here if you have any questions! Thanks for stopping by!
The Weekly Adogtable!
Owner surrender: personal problems. Needs a neuter and microchip on us shortly. 3 years old 34.5KG. Received basic vaccination + Rabies + Revolution Was living w/ adults + 2 kids + 5 cats. Was getting along w/ everyone in the home Amicable and vocal w/ strangers + unknown kids Curious, interested, amicable and playful w/ other dogs (big and small) Active, excited, affectionate, docile House trained. Crate trained but not needed Can whine/cry when left alone, but mostly he is calm No separation anxiety. No bite history.
Pulls on leash Medium tolerance to physical manipulations but cooperates – a bit fearful Playful w/ toys Knows basic commands: sit, paw No resource guarding noted at the shelter Recommended w/ kids 10 years old + Glutton w/ treats! Like to be brushed Talks
This "cuddly companion" is available through Good Bones Dog Rescue, 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
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Jeremiah Wallace, CD
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..
Photo's by Jeremiah