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 July 26th - August 2nd, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 309 (341, 359, 335, 306) *307
Sold: 176 (163, 182, 174, 217) *142
Sale To Listing Ratio: 57% (48%, 51%, 52%, 71%) *46%
Price Changes: 198 (201, 249, 206, 190) *196
Listings that went conditional/pending: 219 (199, 207, 175, 220) *191
Expired/Cancelled/Withdrawn: 183 (90, 112, 229, 80) *290
Total Active Halifax/Dartmouth Inventory: 4,195 (4,273, 4,233, 4,225, 4,273) +4,805
Absorption Rate in weeks: 24 (23, 22, 22, 21) *30
Single Family Home Stats
Active Single Family Home: 2,409 (2,452, 2,446, 2,457, 2,479) *2,968
Average Single Family Home List Price: $314,644 ($325k,$332k, $308k,$335k) *$325k
Average Single Family Home Selling Price: $305,260 ($316k,$323k, $299k,$323k) *$314k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 96%, 96%) *97%
Median Single Family Home List Price (6 mo): $289,000 ($289k,$289k,$290k,$290k)*$280k
Median Single Family Home Sold Price (6 mo):$280,900 ($280k,$280k,$280k,$280k)*$272k
Average Days on Market Single Family Home: 88 (61, 55, 69, 58) *81
Active Condos: 381 (384, 392, 408, 424) *451
Average Condo Listing Price: $210,950 ($227k, $236k, $212k, $239k) *$280k
Average Condo Selling Price: $207,500 ($220k, $226k, $204k, $229k) *$270k
Condo Sale to List Ratio This Week: 98% (97%, 96%, 96%, 96%) 97%
Median Condo List Price (6 mo): $229,900 ($230k, $235k, $235k, $238k) *$235k
Median Condo Sold Price (6 mo): $222,700 ($221k, $225k, $225k, $228k) *$225k
Average Days on Market Condos: 100 (81, 117, 69, 87) *68
Active Vacant Lots: 1,055 (1,068, 1,018, 994, 998) *1,158
Between the natural inventory reduction and the elevated sales stats as of late, products seem to be reducing at a faster rate than normal. This time of year usually sees the overall inventory decline and continue that trend to the lowest point of the year (December), but at this rate, we will be out of products by the time that happens! Maybe not quite that bad, but it is a significant difference from the last few market years. As mentioned, sales continue the solid reporting this week, and so is the buyer activity. Values remain steady and the average time on market is holding fast as well. Hot weather and a hot market make a great pairing, with lots of excitement on the horizon as we crest the halfway point of the year and start our decent into the winter market months. Let's not think of that quite yet though, especially heading into the long weekend! Have a great one everybody, and make it count! Thanks for stopping by!
The weekly Adogtable!
Passion may be 8 years old but you would never know it after spending some time with her! She is high energy and a very loveable AmStaff mix who is seeking her forever home.
The perfect place for her would have a big yard where she can run, play, or just hang out with her family. A home with children 16 and up would be best for Passion!
She was surrendered to the shelter when her previous owners were no longer able to care for her. She joined by her son-Fury. Passion would prefer a home with no other animals.
Passion loves everyone she meets!
This "cuddly companion" is available through the Nova Scotia SPCA, 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
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!
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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