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 11th - 18th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 322 (333, 333, 357, 340) *359
Sold: 181 (197, 208, 221, 205) *164
Sale To Listing Ratio: 56% (60%, 63%, 62%, 60%) *51%
Price Changes: 190 (161, 167, 167, 173) *249
Listings that went conditional/pending: 217 (242, 201, 272, 254) *207
Expired/Cancelled: 100 (103, 192, 66, 57) *112
Total Active Halifax/Dartmouth Inventory: 3,357 (3,341, 3,348, 3,387, 3,381) +4,233
Absorption Rate in weeks: 17 (16, 16, 16, 16) *22
Single Family Home Stats
Active Single Family Home: 1,903 (1,883, 1,877, 1,907, 1,904) *2,446
Average Single Family Home List Price: $325,513 ($321k,$334k,$344k,$349k) *$332k
Average Single Family Home Selling Price: $317,310 ($316k,$329k,$337k,$342k) *$323k
Single Family Home Sale to List Ratio This Week: 98% (99%, 99%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $298,800 ($300k,$300k,$300k,$300k)*$289k
Median Single Family Home Sold Price (6 mo):$290,000 ($298k,$299k,$298k,$296k)*$280k
Average Days on Market Single Family Home: 37 (51, 70, 58, 59) *55
Active Condos: 223 (225, 242, 248, 250) *392
Average Condo Listing Price: $242,585 ($279k, $308k, $295k, $287k) *$236k
Average Condo Selling Price: $241,440 ($271k, $301k, $286k, $277k) *$226k
Condo Sale to List Ratio This Week: 99.5% (97%, 98%, 97%, 97%) 96%
Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$235k
Median Condo Sold Price (6 mo): $240,000 ($221k, $241k, $240k, $240k) *$225k
Average Days on Market Condos: 31 (79, 56, 67, 66)*117
Active Vacant Lots: 953 (949, 947, 955, 948) *1,018
The 60%+ sales to list ratio streak has been snapped! The last time it dipped below the 60% mark was back at the beginning of May, with a report of 58%. Doesn't take much to send a stat up or down though, and this week the average sales and slightly lower sales were the factors here. Funny enough, the absorption rate streak also came to an end this week as well, which the last time reporting over 16 weeks was also at the beginning of May, which was likely the low point before things took off. At the peak, the lowest number the absorption rate hit was 15 weeks this year, which was in June, and only stayed that low for a couple weeks. So I guess you could say that the market is cooling off, but that is a seasonal trend anyways. Overall, sales values remained strong this week, and most other stats are reporting averagely as well! Nothing too out of the ordinary this week, so be sure to come back soon to check on additional updates as they happen! Thanks for stopping by!
The Weekly Adogtable!!
Champion is ready to take on the world with his handsome brown eyes and spunky persona! He'd make a great companion for a semi-active family who likes to get outside and enjoy the sun, but who also doesn't mind a little netflix & chill during those rainy days. He's a bit nervous around the kitties and hasn't had an opportunity to meet other dogs in our care, so we're recommending a pet-free home for this lad, but open to visitation from current household dogs!
Children in Champion's home should be 7+ as he lacks some manners - he's a jumpy, mouthy and excitable boy so kids should be comfortable with large dogs.
This "cuddly companion" is available through Homeward Bound City Pound, 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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Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
Newest Blog post HERE
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