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 October 17th - 24th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 262 (212, 283, 243, 207) *225
Sold: 172 (142, 158, 164, 189) *117
Sale To Listing Ratio: 66% (67%, 56%, 67%, 91%) *52%
Price Changes: 137 (137, 157, 127, 124) *118
Listings that went conditional/pending: 204 (185, 183, 166, 187) *128
Expired/Cancelled: 75 (94, 85, 210,57) *101
Total Active Halifax/Dartmouth Inventory: 2,902 (2,934, 2,989, 2,981, 3,094) +3,884
Absorption Rate in weeks: 18 (18, 17, 17, 18) *31
Single Family Home Stats
Active Single Family Home: 1,555 (1,609, 1,625, 1,624, 1,685) *2,181
Average Single Family Home List Price: $338,634 ($317k,$353k,$351k,$331k) *$305k
Average Single Family Home Selling Price: $332,882 ($314k,$346k,$336k,$324k) *$295k
Single Family Home Sale to List Ratio This Week: 98% (99%, 98%, 96%, 98%) *97%
Median Single Family Home List Price (6 mo): $309,900 ($310k,$309k$308k,$309k)*$290k
Median Single Family Home Sold Price (6 mo):$305,000 ($304k,$302k,$301k,$302k)*$282k
Average Days on Market Single Family Home: 65 (58, 60, 68, 52) *49
Active Condos: 193 (199, 207, 199, 220) *315
Average Condo Listing Price: $273,130 ($228k, $258k, $300k, $256k) *$262k
Average Condo Selling Price: $266,520 ($226k, $243k, $270k, $249k) *$253k
Condo Sale to List Ratio This Week: 98% (99%, 94%, 90%, 98%) 96%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) $230k
Median Condo Sold Price (6 mo): $240,000 ($240k, $241k, $243k, $245k) *$221k
Average Days on Market Condos: 72 (61, 38, 78, 34) *101
Active Vacant Lots: 918 (891, 906, 901, 936) *1,064
Despite seeing a decent increase in the vacant land inventory, overall, the market supply kept the reduction trend going this week. Single family homes are the main contributor to this decline, which also helped spread the overall annual gap to almost 1000 units! There was an above average addition to the market that seemed like it would help, but it was also met with an above average sale week, so they ended up cancelling each other out. Buyer activity reported quite high this week, with over 200 properties coming under contract, showing that buyers in the market aren't quite done just yet! That is the first time we crested the 200 market in several weeks, which is a bit surprising for the time of year.
The final push of the 2019 market year is on, so we should still see a good amount of activity transpire over the following weeks, but nothing is ever completely certain, so stay tuned to the blog to stay on top of things! Thanks for stopping by!
The Weekly Adogtable
Princess is very smart and learns quickly. She is house trained, knows basic commands, has moderate energy, walks well on leash with a freedom harness (although she is strong), and is very food driven. Princess is affectionate, but shy with men. No cats for this girl and not recommended with kids under 12.
.Princess gets excitable when she sees another dog and excitement barks and jumps up with new people.
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.
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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