The Halifax Real Estate Blog Weekly Statistics Update and Market Rant by Jeremiah Wallace

Halifax (HRM) Residential Market Statistic Update For Week of January 30th-February 6th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 405 (341, 345, 389, 378) *325
Sold:  61 (76, 51, 51, 49) *120
Sale To List Ratio: 15% (22%, 16%, 13%, 13%) *37%
Listings that went conditional/pending: 129 (88)
Expired/Cancelled/Withdrawn:  168 (90, 89, 114, 113) *75
Total Active Halifax/Dartmouth Inventory:  4,440 (4,499, 4,411, 4,347, 4,238) *3,895
Active Single Family Home: 2,850 (2,869, 2,828, 2,800, 2,729) *2,547
Average Single Family Home List Price:  $306,392 ($304,586, $262,263, $286,360, $287,474) *253k
Average Single Family Home Selling Price:  $296,722 ($286,986, $245,527, $280,295, $267,447) *249k
Average Days On  Market Single Family Home: 98 (106, 125, 113, 179,) *90
Active Condos:  442 (438, 436, 415, 390) *297
Average Condo Listing Price:  $267,556 ($242,886, $269,900, $245,728, $248,400) *224k
Average Condo Selling Price:  $259,437 ($230,212, $262,450, $240,664, $237,100) *216k
Average Days On Market Condos:  107 (104, 126, 107, 135) *45
Halifax/Dartmouth Absorption Rate (weeks):  55 (52, 102, 75, 62) *44

MARKET RANT
As we put January in the books, it appears the same market conditions will follow us into February. Oddly, the total active inventory actually decreased this week with no help from sales or the addition of new inventory. As January listing contacts expire, they tend to drag the inventory stats down blurring the real activity behind the scenes. Listing additions are way up, sales are still down, and the sales to list ratio looks the same as it did at the beginning of January. Not the start of the year hopeful sellers have been waiting for, but the continued type of market conditions that have would be buyers sharpening their teeth. Is this the year of the recovery, or are we primed for another challenging year? As the ship building contract fades from memory, speculators and investors alike clammer to understand the complexity of the property woes being experienced here in the HRM. As far as I can tell, there is no indicators of an improvement and if this market keeps up in this fashion, it will make for a long year for some... Thanks for stopping by!

WEEKLY ADOGTABLE
Thor is a BEAUTIFUL block head looking for his forever home. He is less then a year old and already 83lbs. We don't know exactly what breed he is.. maybe a horse? Thor loves people and is very playful, at times he can be a bit rough so if his new family has dogs, they will have to be big and playful too. Thor needs a cat free home and obedience classes will be mandatory. No small children for Thor simply because he is SO big! Thor is neutered, vaccinated, and microchipped.

This handsome fella is available through Buddy's Bully Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about this and other adoptable's looking for their forever home, and ways to help or donate can be found by clicking HERE.

ViewPoint Realty
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! Not to mention is now more rewarding then ever to become a ViewPoint Client. Click HERE to find out more. More savings and more information, sign up today!

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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