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 14th - 21st, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 151 (211, 221, 195, 262) *167
Sold: 141 (157, 174, 153, 172) *104
Sale To Listing Ratio: 93% (74%, 79%, 79%, 66%) *62%
Price Changes: 84 (95, 96, 142, 137) *113
Listings that went conditional/pending: 155 (158, 188, 183, 204) *128
Expired/Cancelled: 60 (69, 199, 83, 75) *96
Total Active Halifax/Dartmouth Inventory: 2,657 (2,721, 2,722, 2,788, 2,902) +3,645
Absorption Rate in weeks: 17 (17, 17, 18, 18) *34
Single Family Home Stats
Active Single Family Home: 1,372 (1,437, 1,444, 1,484, 1,555) *1,990
Average Single Family Home List Price: $380,996 ($389k,$347k,$352k,$339k) *$320k
Average Single Family Home Selling Price: $371,238 ($375k,$340k,$344k,$333k) *$310k
Single Family Home Sale to List Ratio This Week: 97% (96%, 98%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $309,900 ($310k,$310k,$310k,$310k)*$285k
Median Single Family Home Sold Price (6 mo):$304,950 ($304k,$305k,$305k,$305k)*$280k
Average Days on Market Single Family Home: 66 (83, 66, 58, 65) *85
Active Condos: 195 (194, 190, 184, 193) *338
Average Condo Listing Price: $239,900 ($239k, $225k, $266k, $273k) *$221k
Average Condo Selling Price: $234,000 ($232k, $224k, $259k, $276k) *$216k
Condo Sale to List Ratio This Week: 98% (97%, 99%, 98%, 98%) 98%
Median Condo List Price (6 mo): $248,500 ($248k, $250k, $250k, $250k) $231k
Median Condo Sold Price (6 mo): $239,000 ($239k, $240k, $240k, $240k) *$225k
Average Days on Market Condos: 57 (57, 46, 67, 72) *57
Active Vacant Lots: 880 (878, 868, 897, 918) *1,034
Another week of below average new listing additions, which is doing wonders for the sales to list ratio since sales are still putting up solid numbers. This activity has also kept the absorption rate holding fast to 17 weeks, which is a stat that is usually considerably higher this time of year. Just look at the difference from this time last year to now, pretty impressive. Inventory continues to plummet, and buyers activity is showing no sign of slowing down either, so the expectation is that this activity will continue to push right up until the holiday season. Sale values continues to surprise as well, and reports remarkably above average from week to week of late. The six month median home prices, the real gauge of value increase/decline, is also reporting well above last years margins and is likely one of the most significant increases in such a short amount of time that Halifax has seen in a very long time. Days on market are fewer, prices changes less, and so too the listings that cancelled or expired. All signs that things are still favouring Sellers, so it makes you wonder when the turn will happen for Buyers. For now, though, we will wait out the current Sellers market in anticipation. Make sure to stay tuned to the blog to stay informed and up to date will all things Halifax Real Estate!
The Weekly Adogtable
Meet Tasca! Staffy X Female 8-12 months old spay + microchip Vaccinated (Rabies + Bordetella) + Advantage Multi 100. Barks in her kennel when she sees people, she’s excited and happy. Well socialized with people. A wiggle butt. Sensitive to her rear area. No food aggression. Takes treats roughly. Playful with dogs. Excited, hard to calm down, jumps on people, nibbles a little bit, learns fast. Shares her toys.
Sudden movements: Thinks it’s a game. Nibbles when you grab her Knows basic command: sit Pulls on leash Unknown with kids High energy level Playful during vet exam Very motivated with treats. Healthy.
This "cuddly companion" is available through Good Bones Dog Rescue, 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!
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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