 Halifax (HRM) Residential Market Statistic Update For Week of May 29th- June 5th 2014 (Previous weeks numbers in brackets) *Last year this week New Listings: 616 (542, 592, 553, 649) *593 Sold: 154 (172, 133, 143, 147) *184 Sale To Listing Ratio: 25% (32%, 22%, 26%, 23%,) *31% Listings that went conditional/pending: 174 (176, 158, 158, 170) Expired/Cancelled/Withdrawn: 227 (82, 79, 93, 124) *209 Total Active Halifax/Dartmouth Inventory: 5,569 (5,563, 5,483, 5,303, 5,187) *5,485 Active Single Family Home: 3,795 (3,761, 3,703, 3,624, 3,551) *3,659 Average Single Family Home List Price: $313,837 ($314,449, $299,131, $323,895, $311,592) *290k Average Single Family Home Selling Price: $302,548 ($303,919, $289,648, $313,500, $300,759) *283k Average Days On Market Single Family Home: 78 (122, 96, 103, 100) *86 Active Condos: 560 (554, 553, 535, 516) *436 Average Condo Listing Price: $254,377 ($240,353, $254,175, $266,094, $244,431) *264k Average Condo Selling Price: $244,455 ($243,386, $243,612, $259,006, $237,388) *257k Average Days On Market Condos: 70 (117, 90, 104, 118) *95 Active Vacant Lots: 897 (928) Halifax/Dartmouth Absorption Rate (weeks): 139 (137, 134, 132, 128) *34 MARKET RANT With my haste to get the weekly stats up last week, and because my rant went a little longer than usual, I forgot to welcome the new statistic to the blog, "active vacant lots". Although it's not that interesting to most, I was actually surprised at the bulk of this product for sale, and how seldom the movement is. Second largest number in the Halifax/Dartmouth area, yet the fewest number of sales or price reductions. I guess there's just not the same hoopla associated with land as there is with the dog and pony show that is residential sales. Numbers are reporting the same this week, inventory gains in all areas, fewer sales than last, and an absorption rate that seems to be unstoppable. So the question and topic seems to be when is enough enough? I touched last week on when sellers should draw the line with how to go with regards to selling their property, obviously, it's a case by case , motivation driven answer. The general market stance at this point seems to be one of "it doesn't seem to make a difference how much I list my home for, there is still no one looking so I'm just going to "wait it out"" type of mentality. This may work for some, but not others who are counting on the sale of their current home to relocate to their next job posting, or some other necessary reason. What magic can someone conjure to sell a property that simply is in the wrong location, at the wrong time? NOTABLE NEWS Continuing the acknowledgement, this article outlines another missing market ingredient here in Halifax, military relocation. As noted a while back, we already know that the Canadian government has severely reduced the number of postings from left to right of our country, now the soldiers are being restricted to rules such as selling the home they are in before getting the thumbs up to go. Not really great news in a market like ours, especially if you where posted here 3 years ago, which is the general posting span. Further news from the Chinese investor department. "A major Chinese real estate developer signed papers in Nova Scotia Tuesday showing it plans to make big investments in the province. Shanghai-based Dongdu International Group, known as DDI, is proposing a 1,200 hectare resort development at Indian Harbour Lake on the Eastern Shore." WEEKLY ADOGTABLE Adoptable Tank; an excellent cuddle buddy, house and kennel trained, dog friendly, loyal and obedient, knows an extensive amount of commands with hand signals. No kids. No cats. Experienced home only This "Cuddle Culprit" is available through Buddy's bully rescue 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.  VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! 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 leave a public comment or question below. 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. Thanks for stopping by! Newest Blog post HERE Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. 
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