The Halifax Real Estate Blog Weekly Market Rant and Stats Update by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of September 17th - September 24th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 326 (305, 302, 279, 282) *393
Sold: 128 (130, 109, 125, 140) *133
Sale To Listing Ratio: 39% (43%, 36%, 45%, 37%) *34%
Price Changes: 289 (337, 268, 266, 291)
Listings that went conditional/pending: 140 (141, 128, 141, 153) *117
Expired/Cancelled/Withdrawn: 172 (179, 137, 293, 129) *169
Total Active Halifax/Dartmouth Inventory: 5,841 (5,835, 5,857, 5,830, 6,006) *5,695
Absorption Rate in weeks: 48 (46, 45, 44, 48) *48
Single Family Home Stats
Active Single Family Home: 3,935 (3,933, 3,958, 3,938, 4,085) *3,803
Average Single Family Home List Price: $266,948 ($301k, $297k, $293k, $306k) *$274k
Average Single Family Home Selling Price: $256,122 ($290k, $285k, $278k, $296k) *$261k
Single Family Home Sale to List Ratio This Week: 96% (96%, 96%, 95%, 97%) *95%
Median Single Family Home List Price: $258,950 ($262k, $260k, $260k, $265k)
Median Single Family Home Sold Price: $251,500 ($250k, $250k, $248k, $263k)
Average Days on Market Single Family Home: 82 (118, 101, 104, 104) *125
Active Condos: 497 (494, 501, 484, 516) *526
Average Condo Listing Price: $360,194 ($244k, $241k, $246k, $234k) *$258k
Average Condo Selling Price: $348,546 ($238k, $233k, $238k, $225k) *$250k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 96%, 96%) *97%
Median Condo List Price: $236,000($234k, $225k, $230k, $228k)
Median Condo Sold Price: $226,000 ($225k, $215k, $223k, $219k)
Average Days on Market Condos: 145 (144, 97, 97, 77) *109
Active Vacant Lots: 1,087 (1,093, 1,086, 1,097, 1,089) *1,023
Things are still alive out there, but there is signs of slowing. Although activity should be starting to slow at this point in the season, it's all engines ahead into the fall market. A larger then average addition of new listings this week, coupled with a softer sales week has caused the inventory across the board to sneak back up. Sales values remain solid (despite their odd appearance this week), but it is a clear observation that value priced starter homes where the flavour of the week not too long ago. Still, we don't seem to be making a dent in the absorption rate, and of course, inventory is still way above all years previous. It would seem that sales are happening at pace, but I'm sure each one has a very unique story to tell. If I have learned anything during my career, it's that each and every transaction are like snowflakes, no two are the same. Thanks for stopping by and remember .CA!
THE WEEKLY ADOGTABLE
My name is Felix! I am a super fun young boy looking for an active home! I am around 2 years old and weigh 50lbs. I have lots on energy and love to play! I was dominant with the dogs I have met so far. I will need a home with a submissive dog or no dogs at all! I enjoy spending time with people and going for walks. Some men make me a little nervous so I will need a owner who can help me build my confidence around all people.
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about him, 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 property 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.
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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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah