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 November 2nd - November 9th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 214 (237, 249, 227, 233) *276
Sold: 123 (121, 136, 126, 131) *119
Sale To Listing Ratio: 58% (51%, 55%, 56%, 56%) *43%
Price Changes: 179 (148, 195, 196, 166) *161
Listings that went conditional/pending: 138 (140, 158, 158, 109) *123
Expired/Cancelled/Withdrawn: 144 (337, 112, 133, 117) *181
Total Active Halifax/Dartmouth Inventory: 4,165 (4,227, 4,438, 4,450, 4,519) 4,875
Absorption Rate in weeks: 33 (33. 34, 34, 33) *40
Single Family Home Stats
Active Single Family Home: 2,511 (2,562, 2,687, 2,693, 2,753) *2,994
Average Single Family Home List Price: $285,954 ($286k, $292k, $282k, $354k) *$318k
Average Single Family Home Selling Price: $275,184 ($274k, $282k, $273k, $336k) *$306k
Single Family Home Sale to List Ratio This Week: 96% (96%, 97%, 97%, 95%) *96%
Median Single Family Home List Price (6 mo): $279,900 ($275k, $275k, $275k, $275k)*$280k
Median Single Family Home Sold Price (6 mo): $270,000 ($265k,$267k,$268k,$270k)*$268k
Average Days on Market Single Family Home: 80 (78, 99, 73, 78) *116
Active Condos: 403 (394, 402, 401, 413) *482
Average Condo Listing Price: $192,920 ($262k, $245k, $235k, $263k) *$243k
Average Condo Selling Price: $185,100 ($257k, $233k, $223k, $253k) *$231k
Condo Sale to List Ratio This Week: 96% (98%, 95%, 95%, 96%) 95%
Median Condo List Price (6 mo): $249,000 ($249k, $245k, $245k, $245k) *$235k
Median Condo Sold Price (6 mo): $239,950 ($240k, $240k, $235k, $236k) *$225k
Average Days on Market Condos: 88 (107, 125, 118, 121) *160
Active Vacant Lots: 1,008 (1,023, 1,093, 1,103, 1,111) *1,128
Is it almost halfway through November already? Although the weather may be reflective of the season (somewhat), the stats are trending warmer month reports. New listing additions are way down this week, and sales remained steady, which kept the sales to list ratio at parity with last week. Single family home and vacant land inventory continued to decline this week, where condo's actually increased its ranks. Odd for the time of year, but because of the small market share condo's hold, their numbers are easily influenced by any drastic fluctuation really. Overall values remain steady, but down from last year for the fourth week in a row. Not sure if this is a seasonal factor, or if there is something larger at play here, like the changes in mortgage rules, increased rates etc, making budgets for home buyers shrink. Or, have we seen a small market adjustment? As always, the first time home buyer price point is the most active, so active in fact, there are areas of the city still producing multiple offer situations. With the above mentioned budget shrinking for the second tier buyer, I can't help but think that some of this group has had to move down into the entry level bracket, increasing the completion there. In any case, it's been an interesting market year, and I'm looking forward to seeing what the overall impact has been at the end. Stay tuned to find out how the market year turns out! Thanks for stopping by!
Last week I posted a survey, which I will keep going until next week to gather more data. If you have not filled it in, and would like to, simply scroll down to last weeks post and select your choice!
Saturday is Remembrance Day across Canada, and I would encourage every Canadian to get out and attend one of the many ceremonies across the city, which can be found HERE. Still not sure where to go and when to be there? Simply head to your closest Canadian Legion by 10:30am on the 11th to take in the day.
The Weekly Adogtable!
Ladies, if you've been looking for a dependant, good looking, and intelligent man, we've got the guy for you! Abel is handsome and if you look at his pictures, he even helps with yard work! Does it get any better than that?
Gentlemen, if you've been feeling a bit of a slump in your dating life, there's nothing that draws the ladies in more than this awesome wingman!
Do you already have that special someone in your life? Nothing keeps a relationship feeling fresh and alive like a new addition to the family.
Abel has been seeking his forever family since late September. This sweet 3 year old AmStaff Mix is seeking a home with the love and attention he deserves. As soon as you get the chance to sit down with this guy he's all snuggles and cuddles. We think he believes he's a lap dog but that description doesn't quite fit his 26kg body.
Abel would thrive in a home with no children and no other animals. He wants all your attention to himself!
If Abel is the guy your heart has been searching for, come take him for a walk and fill out an application for him today!
This "cuddly companion" is available through Homeward Bound City Pound, 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!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
Newest Blog post HERE
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