The Halifax Real Estate Blog Weekly Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Statistic Update for the Week of July 5th - 12th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 359 (335, 306, 332, 348) *360
Sold: 182 (174, 217, 189, 182) *164
Sale To Listing Ratio: 51% (52%, 71%, 57%, 52%) *46%
Price Changes: 249 (206, 190, 189, 230) *229
Listings that went conditional/pending: 207 (175, 220, 222, 220) *186
Expired/Cancelled/Withdrawn: 112 (229, 80, 101, 90) *114
Total Active Halifax/Dartmouth Inventory: 4,233 (4,225, 4,273, 4,284, 4,273) +4,868
Absorption Rate in weeks: 22 (22, 21, 22, 22) *27
Single Family Home Stats
Active Single Family Home: 2,446 (2,457, 2,479, 2,489, 2,476) *2,998
Average Single Family Home List Price: $332,081 ($308k,$335k,$342k,$353k) *$307k
Average Single Family Home Selling Price: $323,257 ($299k,$323k,$330k,$343k) *$302k
Single Family Home Sale to List Ratio This Week: 97% (96%, 96%, 96%, 97%) *98%
Median Single Family Home List Price (6 mo): $289,000 ($290k,$290k,$290k,$290k)*$275k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 55 (69, 58, 57, 52) *77
Active Condos: 392 (408, 424, 430, 431) *485
Average Condo Listing Price: $235,866 ($212k, $239k, $296k, $273k) *$270k
Average Condo Selling Price: $226,323 ($204k, $229k, $290k, $264k) *$261k
Condo Sale to List Ratio This Week: 96% (96%, 96%, 98%, 97%) 97%
Median Condo List Price (6 mo): $234,950 ($235k, $238k, $239k, $238k) *$234k
Median Condo Sold Price (6 mo): $225,000 ($225k, $228k, $230k, $226k) *$223k
Average Days on Market Condos: 117 (69, 87, 40, 88) *114
Active Vacant Lots: 1,018 (994, 998, 995, 984) *1,156
Back at it again this week! Although the tempo and pace of the market seemed to be slowly winding down, it appears that the stats are reporting different than the "feel" of the market. This could be a result of the June remnants washing into July, but some of the more direct reflection stats, like the number of accepted offers this week, could argue that it's full steam ahead. New listing additions were pretty much on par to this week last year, but sales were up slightly in contrast. Inventory did see a slight increase this week, but both single family homes, and condo numbers decreased. The culprit for the inflation, it seems, is vacant land. Overall, values in both tracked products surged back this week, and the absorption rate held fast at the 22 week mark, which is a good indicator of a healthy market. We may be over the peak of the season, but there is still fight in the market yet. Stay tuned to stay on top of it! Thanks for stopping by!
The weekly Adogtable!
breed: am staff
Age : 2 yrs
neutered,utd on vaccines
healthy and fit ,gentle and loving as per the breeds character
fearful of men
no little kids as he is nervous
dogs unknown at this point but he was not reactive on leash
would make a great companion
He did warm up to his person's husband with bribery but always approached nervous with tail between his legs
He went to work dailey with his person and also hung out on the farm never wandering off
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him and other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE
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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