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 10th - 17th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 212 (283, 243, 207, 265) *283
Sold: 142 (158, 164, 189, 192) *141
Sale To Listing Ratio: 67% (56%, 67%, 91%, 72%) *50%
Price Changes: 137 (157, 127, 124, 132) *124
Listings that went conditional/pending: 185 (183, 166, 187, 208) *140
Expired/Cancelled: 94 (85, 210,57, 66) *129
Total Active Halifax/Dartmouth Inventory: 2,934 (2,989, 2,981, 3,094, 3,139) +3,889
Absorption Rate in weeks: 18 (17, 17, 18, 19) *28
Single Family Home Stats
Active Single Family Home: 1,609 (1,625, 1,624, 1,685, 1,716) *2,163
Average Single Family Home List Price: $317,301 ($353k,$351k,$331k,$351k) *$327k
Average Single Family Home Selling Price: $313,688 ($346k,$336k,$324k,$342k) *$317k
Single Family Home Sale to List Ratio This Week: 99% (98%, 96%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $309,900 ($309k$308k,$309k,$309k)*$290k
Median Single Family Home Sold Price (6 mo):$304,000 ($302k,$301k,$302k,$303k)*$283k
Average Days on Market Single Family Home: 58 (60, 68, 52, 54) *71
Active Condos: 199 (207, 199, 220, 220) *317
Average Condo Listing Price: $228,056 ($258k, $300k, $256k, $275k) *$235k
Average Condo Selling Price: $225,993 ($243k, $270k, $249k, $267k) *$228k
Condo Sale to List Ratio This Week: 99% (94%, 90%, 98%, 98%) 97%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k$225k
Median Condo Sold Price (6 mo): $239,950 ($241k, $243k, $245k, $243k) *$220k
Average Days on Market Condos: 61 (38, 78, 34, 46) *125
Active Vacant Lots: 891 (906, 901, 936, 930) *1,080
We have some interesting trends in this years market. One of them is the lower than average weekly inventory additions, the other is the consistent surge of buyers putting homes under agreement (as tracked by the conditional/pending stat). Another interesting constant this year is the gap of overall inventory between this, and several years prior to this year. Just shy of 1000 property products is the current gap, which has widened or narrowed slightly over the year, but always reporting lower than last year at the same time. Values remain strong this week, but it did report a touch lower than what the norm has been as of late. The six month median price for single family homes edged a touch closer to breaking the $310k mark, which is a bit strange to report since it feels like just a few short weeks ago I was reporting that the six month average finally crested the $300k mark for the first time historically for Halifax. So, a few steady stats in an unpredictable market, and not the ones that I expected. Still, lots of exciting times ahead I feel, so stay tuned to the blog to keep a watch on the market! Thanks for stopping by!
The Weekly Adogtable
SKIPIE is an owner surrender. Spayed and microchipped. up to date on vaccines and flea and tick protection. Slight Heart murmur grade 2/6, sinus arrhythmia. Has an adorable under bite. Loves people. Comfortable with touching all over. Shows no resource guarding. Takes treats roughly. Good w/ cats and big and small dogs. Can be dominant. Knows basic command: sit. Pulls a bit on leash. Never in contact w/ children. Moderate energy. Was being kept loose in the house while owner was gone.
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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah