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 December 6th - December 13th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 148 (146, 147, 167, 202) *160
Sold: 113 (114, 98, 104, 99) *96
Sale To Listing Ratio: 76% (78%, 67%, 62%, 49%) *43%
Price Changes: 107 (76, 73, 113, 101) *73
Listings that went conditional/pending: 84 (96, 109, 128, 134) *109
Expired/Cancelled/Withdrawn: 91 (208, 75, 96, 100) *116
Total Active Halifax/Dartmouth Inventory: 3,469 (3,493, 3,622, 3,645, 3,704) +3,781
Absorption Rate in weeks: 32 (34, 35, 34, 33) *33
Single Family Home Stats
Active Single Family Home: 1,878 (1,886, 1,975, 1,990, 2,042) *2,061
Average Single Family Home List Price: $292,893 ($320k,$342k,$320k,$329k) *$334k
Average Single Family Home Selling Price: $285,845 ($310k,$335k,$310k,$320k) *$321k
Single Family Home Sale to List Ratio This Week: 98% (97%, 98%, 97%, 97%) *96%
Median Single Family Home List Price (6 mo): $283,900 ($285k,$287k,$285k,$289k)*$279k
Median Single Family Home Sold Price (6 mo):$278,500 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 93 (70, 85, 101, 115) *69
Active Condos: 279 (289, 333, 338, 312, 318) *369
Average Condo Listing Price: $287,900 ($277k, $240k, $221k, $286k) *$250k
Average Condo Selling Price: $279,000 ($262, $235k, $217k, $281k) *$242k
Condo Sale to List Ratio This Week: 96% (95%, 98%, 98%, 98%) 97%
Median Condo List Price (6 mo): $233,800 ($230k, $230k, $231k, $235k) *$249k
Median Condo Sold Price (6 mo): $225,000 ($225k, $225k, $225k, $225k) *$240k
Average Days on Market Condos: 119 (84, 64, 57, 51) *97
Active Vacant Lots: 1,015 (1,011, 1,031, 1,034, 1,031) *964
If it seems like the sales to list ratio has been unusually high lately, it's because it has been! For the third week in a row we are well above the average StL report, and well above the 50% mark, which is also really high for this time of year. The general feeling out there is that there's still a bulge of buyers hunting the market, and with lack of product availability (in certain areas and type), the few listings that do come to market get snapped up. The absorption is in alignment with this time last year, and the inventory overall has taken another step towards closing the gap as well, however, buyer interest is still at an all time high and seemingly more active. Ultimately, things are bound to cool off, even for a short time over the holiday's, and it will be interesting to see what 2019 has in store for our fair city. Stay tuned to the blog to stay on top of it all! Thanks for stopping by!
The Weekly Adogtable
The Weekly Adogtable!
Meet Pipsqueak. Such a sweetheart! Her perfect day would be a few walks, lots of back scratches, lounging in her bed or sitting next to you on the coach. She is approaching her senior years so will not require much other than your affection.
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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