The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, Jeremiah Wallace of ViewPoint Realty
Halifax (HRM) Residential Statistic Update for the Week of November 9th - November 16th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 223 (214, 237, 249, 227) *227
Sold: 135 (123, 121, 136, 126) *117
Sale To Listing Ratio: 61% (58%, 51%, 55%, 56%) *52%
Price Changes: 136 (179, 148, 195, 196) *126
Listings that went conditional/pending: 130 (138, 140, 158, 158) *102
Expired/Cancelled/Withdrawn: 130 (144, 337, 112, 133) *181
Total Active Halifax/Dartmouth Inventory: 4,142 (4,165, 4,227, 4,438, 4,450) 4,859
Absorption Rate in weeks: 32 (33, 33. 34, 34) *43
Single Family Home Stats
Active Single Family Home: 2,492 (2,511, 2,562, 2,687, 2,693) *2,964
Average Single Family Home List Price: $302,233 ($286k,$286k,$292k,$282k) *$296k
Average Single Family Home Selling Price: $289,550 ($275k,$274k,$282k,$273k) *$282k
Single Family Home Sale to List Ratio This Week: 96% (96%, 96%, 97%, 97%) *95%
Median Single Family Home List Price (6 mo): $279,900 ($280k,$275k,$275k,$275k)*$280k
Median Single Family Home Sold Price (6 mo): $270,000 ($270k,$265k,$267k,$268k)*$274k
Average Days on Market Single Family Home: 73 (80, 78, 99, 73) *93
Active Condos: 397 (403, 394, 402, 401) *483
Average Condo Listing Price: $212,500 ($193k, $262k, $245k, $235k) *$305k
Average Condo Selling Price: $208,487 ($185k, $257k, $233k, $223k) *$289k
Condo Sale to List Ratio This Week: 98% (96%, 98%, 95%, 95%) 95%
Median Condo List Price (6 mo): $248,900 ($249k, $249k, $245k, $245k) *$230k
Median Condo Sold Price (6 mo): $239,900 ($240k, $240k, $240k, $235k) *$225k
Average Days on Market Condos: 76 (88, 107, 125, 118) *61
Active Vacant Lots: 1,003 (1,008, 1,023, 1,093, 1,103) *1,138
The market is in a really good place at the moment. What is usually a sleepy time of the market year has turned into quite the opposite, with many of the activity indicators reporting on the plus side of things. One of the big surprises of the week is the absorption rate which actually declined by a week, down 11 (weeks) from last year and something seldom seen during this time of year. Certainly, the continued solid sales reports coupled with constant buyer activity has helped this along, with an honourable mention to the lower overall inventory as well. All of these factors have helped along our market this year, slowly chipping away at the pile of inventory that accumulated from 2013-15. Still a ways to go however, but things are definitely looking up. Values across the board remain steady with no drastic gains or losses to report this week, which is a usual trend for the Halifax market, and the buyer activity remain steady with 130 properties receiving and accepting offers this week. It'll be interesting to see how the rest of the year goes, and how the overall impact will affect the coming market year. Stay tuned to the blog to find out! Thanks for stopping by!
The results are in! In a surprising conclusion, just over 70% of the survey participants would rather see the current trend of modern buildings continue to be constructed. Just 22% would like to se the traditional skyline remain intact, with the remainder were indifferent. Thanks to everyone that took the time to offer an opinion!
The Weekly Adogtable!
Warren is a happy go lucky fella who had an unfortunate run-in with a car earlier in October. With a little help from our wonderful vet team and some TLC from staff and volunteers, Warren's easygoing personality has been apparent from day one! He's quite mellow and laidback, but his inner puppy comes through when it's time to go for walks, which is when Warren gets his wiggle on! This gentle soul will touch your heart and steal your blankets, but with a sweet face like his, who's complaining?
Warren would be best suited to a home:
-Without other dogs (he can greet and socialize with calm, friendly dogs, but he tends to be awkward and easily stressed- the single life seems to be his preference)
-Without cats and small critters (due to high reactivity)
-With children of any age
This "cuddly companion" is available through Homeward Bound City Pound, 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
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. 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