The Halifax Real Estate Blog Weekly Market Report and Statistics Update by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of November 21th to November 28st 2013
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 300 (314, 326, 466, 323) *266
Sold: 87 (121, 68, 166, 96) *98
Sale To List Ratio: 29% (39%, 21%, 37%, 30%) *37%
Expired/Cancelled/Withdrawn: 128 (148, 138, 259, 188) *102
Total Active Halifax/Dartmouth Inventory: 4,974 (4,976, 5.032, 5,029, 5,161)
Active Single Family Home: 3,210 (3,239, 3,298, 3,319, 3,426) *2,788
Average Single Family Home List Price: $282,065 ($285,888, $244,829, $309,696, $288,708) *293k
Average Single Family Home Selling Price: $272,556 ($268,293, $235,710, $,293,573, $279,192) *281k
Average Days On Market Single Family Home: 107 (107, 96, 111, 103) *97
Active Condos: 431 (413, 412, 407, 398,) *265
Average Condo Listing Price: $277,485 ($235,185, $236.813, $216,268, $220,585) *271k
Average Condo Selling Price: $269,842 ($227,971, $228,750, $209,428, $213,892) *263k
Average Days On Market Condos: 74 (63, 110, 123, 64) *50
Halifax/Dartmouth Absorption Rate (weeks): 102 (48, 51, 48, 55) *48
Another slow week on the market it seems. Lack of sales in the past few weeks, coupled with an apparent never ending supply of inventory has set the absorption rate to record highs this week. To put into perspective, If inventory additions completely stopped today, it would take over 8 months to sell off the current stock at this sales rate. That being said, we are at the end of the season and typically see this type of performance. This week just happened to have a huge spike. Let's hope that trend doesn't continue. Doesn't really look like the inventory wants to reduce at all! Single family homes had a marginal reduction and condo inventory actually gained. Interested to see how the rest of the year plays out, so stay tuned to the blog for all the details!
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This fella is currently being cared for by NSPBRS, a non profit rescue association. Details about this beauty and others ready for a "furever" home, including how to adopt, other dogs for adoption, and ways to donate, can be found by clicking the picture :) Thank you for your consideration!
Are you familiar with ViewPoint Realty? How about the ViewPoint 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!
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.
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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