The Halifax Real Estate Blog Weekly Market Rant, Notable News And Statistics Update (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of June 26th - July 3rd 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 478 (477, 490, 578, 616) *554
Sold: 128 (163, 168, 168, 154) *127
Sale To Listing Ratio: 27% (35%, 34%, 29%, 25%) *23%
Listings that went conditional/pending: 147 (157, 159, 162, 176)
Expired/Cancelled/Withdrawn: 300 (81, 96, 106, 227) *260
Total Active Halifax/Dartmouth Inventory: 5,660 (5,777, 5,717, 5,676, 5,569) *5,526
Active Single Family Home: 3,856 (3,941, 3,897, 3,861, 3795) *3,635
Average Single Family Home List Price: $290,741 ($307,957, $303,555, $300,326, $313,837) *297k
Average Single Family Home Selling Price: $282,092 ($296,001, $293,003, $291,173, $302,548) *288k
Average Days on Market Single Family Home: 86 (93, 84, 104, 78) *80
Active Condos: 555 (549, 545, 562, 560) *445
Average Condo Listing Price: $255,377 ($249,333, $250,893, $252,998, $254,277) *280k
Average Condo Selling Price: $248,588 ($232,150, $241,033, $243,573, $244,455) *272k
Average Days on Market Condos: 80 (98, 77, 69, 70) *85
Active Vacant Lots: 903 (938, 934, 928, 897)
Guess everyone was out there enjoying Canada Day celebrations this week, and who could blame them with the gorgeous weather we have been enjoying! Usually, there is a pretty big turn around at the beginning of the month with expired listings coming off, than back on the market. This week, it would appear that quite a few property owners decided not to come back to market...for now at least. For a month that is normally trends growth, the first week of July has actually shed some of that "winter weight", and looks to start an early decline into the annual trend. Specifically, there was 234 listings that expired this week, but new listings remained average (for the past couple of years anyways), which leads me to believe that the annual decline has started early, or record numbers of sellers are "taking a break" from the market and we will see them back in a couple of weeks. Prices still remain solid, regardless of demand, which is an odd anomaly and addressed in the article below.
Not to be fooled by the title "Halifax Market Picks Up Steam", this article outlines some of the factors that are contributing to our market. Long time readers of the Blog may find this news stale, but at least it outlines some of the issues. The CEO of ViewPoint Realty, and my boss, Bill McMullin weighed in as well with a perfect description of the "stand off" market we are currently in. Highly recommend a read!
Dex is around 2 years old and will be fully vetted soon , we think he is an American Bulldog mix and is a big boy , likely around 75-80lb. He is an amazing dog , get's along very well with other dogs and great with people too. He does need some leash work as he likes to pull , this will be worked on by his fosters. At this time we do not know how he is with cats , and once we get to know him better we will know what age group of kids would be most suitable.
This "Brooding Boy" is available through Nova Scotia Pit Bull Society, a non profit rescue organization from Halifax, Nova Scotia. More info about her, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.
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!
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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!
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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