The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Statistic Update for the Week of August 3rd - August 10th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 287 (307, 305, 322, 360) *316
Sold: 140 (142, 167, 162, 164) *148
Sale To Listing Ratio: 49% (46%, 55%, 50%, 46%) *47%
Price Changes: 196 (196, 197, 233, 229) *259
Listings that went conditional/pending: 151 (191, 194, 160, 186) *164
Expired/Cancelled/Withdrawn: 115 (290, 115, 119, 114) *115
Total Active Halifax/Dartmouth Inventory: 4,804 (4,805, 4,884, 4,894, 4,868) *5,421
Absorption Rate in weeks: 32 (30, 30, 30, 27) *38
Single Family Home Stats
Active Single Family Home: 2,974 (2,968, 2,999, 3,010, 2,998) *3,570
Average Single Family Home List Price: $310,152 ($325k,$300k,$324k,$310k) *$275k
Average Single Family Home Selling Price: $301,631 ($314k,$287k,$314k,$302k) *$262k
Single Family Home Sale to List Ratio This Week: 97% (97%, 96%, 97%, 98%) *95%
Median Single Family Home List Price (6 mo): $279,900 ($280k,$279k,$279k,$275k)*$240k
Median Single Family Home Sold Price (6 mo): $271,000 ($272k,$270k$279k,$270k)*$230k
Average Days on Market Single Family Home: 70 (81, 74, 68, 77) *98
Active Condos: 440 (451, 473, 479, 485) *507
Average Condo Listing Price: $276,174 ($279k, $237k, $261k, $270k) *$242k
Average Condo Selling Price: $271,348 ($277k, $227k, $257k, $261k) *$234k
Condo Sale to List Ratio This Week: 98% (97%, 96%, 98%, 97%) 97%
Median Condo List Price (6 mo): $234,900 ($235k, $235k, $235k, $234k) *$210k
Median Condo Sold Price (6 mo): $225,000 ($225k, $225k, $225k, $223k) *$205k
Average Days on Market Condos: 82 (68, 66, 65, 114) *65
Active Vacant Lots: 1,158 (1,158, 1,176, 1,156, 1,156) *1,072
Average report on the market this week. No real highs, and no real lows... just average, or similar stat showings as the previous few weeks. New listing additions reported a touch lower than usual, and this is the first week in awhile that there was less than 300 properties that hit the market in a single week. Sales are a touch down this week as well, in match with last week, which was also down roughly 20 units from the previous weeks on average. Buyer activity seems to be down as well this week, with a lower than usual (what we have been used to this year) 151 properties that received and accepted offers. This was a fairly sharp drop in activity since we were getting used to seeing close to 200 properties under contract each week during this year, but much like I mentioned last week, Summer usually signals the slow decline across the board for activity. So this is a normal, or trend event, and no need to panic! Still lots of activity out there, but you can feel it, the winds are changing. Could just be a bump in the road, or it could be the normal market trend, you will have to check in to the blog to find out! Thanks for stopping by!
Bolt is ready for a new home!
The Weekly Adogtable!
Bolt is a lovely little beagle/amstaff mix who is searching for a home to call his own. This spunky guy LOVES to play and gets along great with doggy-friends, although doesn't particularly like sharing his food with others. Given his high prey drive, a home without cats is recommended for this fella. Bolt is a very social boy who enjoys making new people friends, of any age. He working hard on his manners and could use some more training to ensure he keeps them up.
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. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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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