The Halifax Real Estate Blog Weekly Market Rant, Statistics Update and Notable News by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of June 5th - June 12th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 578 (616, 542, 592, 553) *520
Sold: 168 (154, 172, 133, 143) *166
Sale To Listing Ratio: 29% (25%, 32%, 22%, 26%) *32%
Listings that went conditional/pending: 162 (174, 176, 158, 158)
Expired/Cancelled/Withdrawn: 106 (227, 82, 79, 93) *83
Total Active Halifax/Dartmouth Inventory: 5,676 (5,569, 5,563, 5,483, 5,303) *5,550
Active Single Family Home: 3,861 (3,3795, 3,761, 3,703, 3,624) *3,689
Average Single Family Home List Price: $300,326 ($313,837, $314,449, $299,131, $323,895) *305k
Average Single Family Home Selling Price: $291,723 ($302,548, $303,919, $289,648, $313,500) *298k
Average Days on Market Single Family Home: 104 (78, 122, 96, 103) *98
Active Condos: 562 (560, 554, 553, 535) *449
Average Condo Listing Price: $252,998 ($254,277, $240,353, $254,175, $266,094) *236k
Average Condo Selling Price: $243,573 ($244,455, $243,386, $243,612, $259,006) *199k
Average Days on Market Condos: 69 (70, 117, 90, 104) *188
Active Vacant Lots: 928 (897, 928)
Halifax/Dartmouth Absorption Rate (weeks): 145 (139, 137, 134, 132) *35
Bring on the warm weather! I'm sure I'm not alone in saying that it was a particularly drawn out cold season this year, and have welcomed the delayed warmth with enthusiasm. Not saying that weather is a direct factor when it comes to buying and selling homes, but you know, it helps. I don't think that it's coincidental that with the rise in mercury that inquiries, showing appointments, and overall market buzz is up. I don't think there was one person I talked with this week that didn't mention the increase in overall activity, and this comes from several real estate, or related personnel. Either way you slice it, you may think it's a hoax or a coincidence, but I believe weather has some sort of affect on the market whether psychological or factual. To what extent is the question. Several more listings pilled onto the market this week, and even though the sales week wasn't terrible, it wasn't enough to break even or reduce the pile. This seems to be our direct link to the unstoppable absorption rate, which saw the addition of 6 weeks to the overall total.
The Nova Scotia Utility and Review Board is rapping Halifax Water for forcing property owners to prove whether they should be charged a so-called ditch tax, says this article. The provincial regulator said Wednesday it should be up to the water utility to prove if a property owner has been appropriately charged for stormwater services, rather than the other way around.
Halifax Regional Municipality is forging ahead with plans to pave gravel roads in Cow Bay despite property owners speaking out against the initiative, says this article. Wayne Bell said most residents in the rural area near Cole Harbour don’t want the roads paved, but the municipality has ignored them.
Hello everyone :) My name is Otis. I haven't had the best life so far but I am happy and looking for my new family so I can have a fresh start. I would be best in a home with no kitties and a dog that is laid back.
This "Handsome fella" 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.
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
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