The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty
Halifax (HRM) Residential Market Statistic Update for the Week of July 7th - July 14th 2016
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 302 (332, 403, 356, 397) *374
Sold: 139 (128, 165, 168, 171) *120
Sale To Listing Ratio: 46% (37%, 41%, 47%, 43%) *32%
Price Changes: 290 (227, 287, 302, 329) *281
Listings that went conditional/pending: 171 (138, 170, 172, 203) *139
Expired/Cancelled/Withdrawn: 105 (306, 161, 114, 148) *111
Total Active Halifax/Dartmouth Inventory: 5,494 (5,470, 5,518, 5,455, 5,377) *5,893
Absorption Rate in weeks: 37 (35, 33, 33, 33) *41
Single Family Home Stats
Active Single Family Home: 3,665 (3,633, 3,652, 3,653, 3,605) *4,026
Average Single Family Home List Price: $291,773 ($298k, $296k, $311k, $307k) *$284k
Average Single Family Home Selling Price: $282,136 ($287k, $287k, $302k, $299k) *$275k
Single Family Home Sale to List Ratio This Week: 97% (96%, 97%, 97%, 97%) *97%
Median Single Family Home List Price: $274,900 ($270k, $260k, $279k, $285k) *$272k
Median Single Family Home Sold Price: $267,500 ($265, $252k, $272k, $277k) *$262k
Average Days on Market Single Family Home: 87 (80, 73, 78, 80) *68
Active Condos: 483 (492, 504, 494, 486) *526
Average Condo Listing Price: $278,261 ($263k, $235k, $224k, $232k) *$258k
Average Condo Selling Price: $269,693 ($255k, $226k, $216k, $224k) *$250k
Condo Sale to List Ratio This Week: 97% (97%, 96%, 97%, 96%) *97%
Median Condo List Price: $229,950 ($255k, $218k, $210k, $232k) *230k
Median Condo Sold Price: $225,300 ($237k, $205k, $204k, $220k) *224k
Average Days on Market Condos: 72 (84, 176, 85, 75) *96
Active Vacant Lots: 1,073 (1,074, 1,094, 1,043, 1,030) *1,035
With the weather being so kind to us in our fair city, it looks like more people are out enjoying the heat and getting out there to check out properties. New listing additions remain lower week over week compared to this time last year, but sales are up in the same regard. Although sales remain tepid, the overall inventory level and sales rate has actually caused a two week gain to the absorption rate. Odd, beings the stats are pointing in the opposite direction, but we did see a bit of a lag in the last few weeks. Values remain steady and we have seen a marginal gain over this year last time, which is a normal trend year over year. There has been peaks and valleys with sales value, but overall, prices trend in the upwards direction annually, however marginal. Many were holding their breath waiting for the price peaks to correct in the face of our inflated market, and some areas have, however Nova Scotians held steady to their listed prices causing what has been noted as a minor correction. This is still a new event however and still developing, so make sure to stay tuned to get the summary and overall impact as we get heated in the Summer months. Thanks for stopping by!
Tila is a sweet and energetic older amstaff mix in need of a home to spend the rest of her days. Tila came in to the pound full of lumps and bumps, so the poor gal has already gone through two major surgeries to remove some mammary tumors that hopefully won't be returning. Tila should go to a home with no other animals, as she does get pretty protective over her toys and sometimes food. She's a very relaxed girl with spurts of energy at times so a fairly laid back home would be just fine :)
This "cuddly companion" is available through the Homeward Bound City Pound, a non profit rescue organization from Dartmouth, 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