The Halifax Real Estate Blog Weekly Statistics Report and News Update by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of November 7th to November 14th 2013
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 326 (466, 323, 386, 330) *303
Sold: 68 (166, 96, 96, 97) *83
Sale To List Ratio: 21% (37%, 30%, 25%, 29%) *27%
Expired/Cancelled/Withdrawn: 138 (259, 188, 149, 148) *105
Total Active Halifax/Dartmouth Inventory: 5,032 (5,029, 5,161, 5,247, 5,246)
Active Single Family Home: 3,298 (3,319, 3,426, 3,478, 3,519) *2,808
Average Single Family Home List Price: $244,829 ($309,696, $288,708, $284,754, $263,775 *277k
Average Single Family Home Selling Price: $235,710 ($,293,573, $279,192, $275,216, $256,071) *267k
Average Days On Market Single Family Home: 96 (111, 103, 113, 101) *95
Active Condos: 412 (407, 398, 401, 399) *274
Average Condo Listing Price: $236,813 ($216,268, $220,585, $241,620, $268,519) *312k
Average Condo Selling Price: $228,750 ($209,428, $213,892, $234,480, $261,570) *300k
Average Days On Market Condos: 110 (123, 64, 48, 73) *69
Halifax/Dartmouth Absorption Rate (weeks): 51 (48, 55, 55, 52) *43
Well that will certainly do it for the worst sales week of the year. I imagine a few factors like the Remembrance Day long weekend, coupled with the end of year market decline where pretty impactive on the result. Although the overall inventory has started the annual decrease trend, this week made one last twitch at a come back. Although single family homes have decreased in numbers, the gutter-ball sales to list ratio failed to stop the overall gain. Days on market for both products is chugging along at an average pace (a little over three months), and values in the sold single family homes took a cut. So as we compare this year to the last, things are still a little out of balance with last year having the edge, albeit oh so slightly. Inventory wise however, it appears as though we are on pace to meet up with last years stats hopefully, by the end of the year. This should put us in better position to start the year on a positive note. 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah