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 May 23rd - May 30th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 336 (377, 351, 401, 378) *350
Sold: 225 (227, 203, 209, 197) *194
Sale To Listing Ratio: 67% (60%, 58%, 52%, 52%) *55%
Price Changes: 174 (145, 181, 177, 171) *264
Listings that went conditional/pending: 260 (266, 232, 261, 273) *247
Expired/Cancelled: 72 (61, 56, 62, 121) *81
Total Active Halifax/Dartmouth Inventory: 3,409 (3,410, 3,375, 3,300, 3,268) +4,235
Absorption Rate in weeks: 16 (16, 17, 16, 16) *22
Single Family Home Stats
Active Single Family Home: 1,894 (1,904, 1,897, 1,878, 1,828) *2,472
Average Single Family Home List Price: $349,569 ($348k,$367k,$350k,$356k) *$339k
Average Single Family Home Selling Price: $342,650 ($342k,$359k,$344k,$348k) *$333k
Single Family Home Sale to List Ratio This Week: 98% (98%, 98%, 98%, 98%) *98%
Median Single Family Home List Price (6 mo): $299,900 ($300k,$299k, $299k,$295k)*$286k
Median Single Family Home Sold Price (6 mo):$295,950 ($295k,$292k,$290k,$287k)*$280k
Average Days on Market Single Family Home: 51 (52, 44, 59, 53) *53
Active Condos: 261 (267, 260, 261, 258) *415
Average Condo Listing Price: $281,775 ($250k, $317k, $276k, $274k) *$307k
Average Condo Selling Price: $279,527 ($256k,$311k, $272k, $266k) *$297k
Condo Sale to List Ratio This Week: 99% (98%, 98%, 98%, 97%) 97%
Median Condo List Price (6 mo): $249,450 ($246k, $248k, $245k, $248k) *$236k
Median Condo Sold Price (6 mo): $240,450 ($240k, $241k, $239k, $241k) *$227k
Average Days on Market Condos: 50 (37, 43, 46, 60) *59
Active Vacant Lots: 965 (955, 943, 934, 931) *975
The Spring weather might be cold and dreary, but our Spring market here in Halifax anything but! Overall activity remains steady, with very few fluctuations causing the averages to wain at all. New listings were slightly lower than the current average, but sales remained steady causing one of the highest sales to list ratios of the year. Price changes are significantly down from this time last year, and so too is the absorption rate, which is not a surprise given how quickly the market transacting. The overall inventory stayed at parody this week, which was a bit of a curiosity because we are supposed to be rocketing to the peak of numbers at this point. With the way things have been moving its no wonder that we are reducing during peak performance times, it just never fails to surprise when it actually happens. Sales prices overall, again, reported stronger and higher than average. For the first time I can see, the 6 month median sales price for single family homes topped out in the $300's, which is a precedent for this market. It's been stated time and time again how much the average gain has increased, and now for the second straight week, we have hit that milestone (well, just shy of $100) Hopefully the weather in our fair city takes a page from the real estate market and heats up! I can't be the only one getting tired of all this rain. Stay tuned for the latest and greatest when it comes to the real estate market here in Halifax, and thanks for stopping by!
The Weekly Adogtable!
Loly is a female aged 6 years old with medium energy. She is spayed, microchipped , vaccinated and on parasite prevention. Loving temperament and thinks she is a lap dog. Pet free clicker and positive reinforcement trained. No pets or kids for Loly as she is anxious. Can be head strong but we figured out she will work for her food.
Kids yes but school aged ideal because she is used to that age and may forget not to jump up . Loving temperament. She knows basic commands, sit, down, refocuses on handler when unsure. Is crate trained but totally trustworthy un-crated. She loves camping and riding in a cart behind bicycle. She is a bit of a introvert but bonds to her couple
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