The Halifax Real Estate Blog Weekly Statistics Update and Market Rant by Jeremiah Wallace (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of January 2nd to January 9th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 378 (101, 119, 303, 300) *331
Sold: 49 (26, 51, 90, 87) *58
Sale To List Ratio: 13% (26%, 43%, 30%, 29%) *18%
Expired/Cancelled/Withdrawn: 113 (502, 95, 353, 128) *82
Total Active Halifax/Dartmouth Inventory: 4,238 (4,087, 4,483, 4,727, 4,974)
Active Single Family Home: 2,729 (2,632, 2,852, 3,031, 3,210) *2,342
Average Single Family Home List Price: $287,474 ($299,508, $310,477, $302,000, $282.065) *270k
Average Single Family Home Selling Price: $267,447 ($288,888, $298,157, $290,985, $272,556) *265k
Average Days On Market Single Family Home: 179 (125, 142, 127, 107) *100
Active Condos: 390 (371, 407, 417, 431) *239
Average Condo Listing Price: $248,400 ($253,233, $283,655, $300,515, $277,485) *367k
Average Condo Selling Price: $237,100 ($243,722, $279,561, $290,515, $269,842) *356k
Average Days On Market Condos: 135 (110, 70, 110, 74) *192
Halifax/Dartmouth Absorption Rate (weeks): 62 (57, 48, 56, 102) *65
Not a great start to the year, but I guess that is to be expected after the last few years performance. Lots of properties flood back onto the market this week, and it's a race back to active for most of the sellers that weren't able to sell last year. Still, if there was any stat to eye it was the single family home price spread from list to sell. The winter does hold a challenge for sellers, and a soft market does't help either, but the average spread for reduction this week was $20,000!! Thats a lot given we usually see a 8-11k fluctuation in that area. It is however, the start of the year. Deuces are wild and anything goes, so strap in and enjoy the ride. Lets just see if this week is an indicator of things to come, or just another speed bump on the road to recovery? And of course, I will be here to report the ever changing landscape of our market here in Halifax, so stay tuned! Thanks for stopping by!
Blade is around 3 years old , neutered and fully vaccinated. He is a very loving boy and enjoys a good snuggle and lot's of human company , he does have some separation anxiety so a home where he will not be left all day is needed for him , he also requires a dog free home.
This beauty is available through Nova Scotia Pit Bull Society, and more info about this and other adoptable's looking for their forever home, and ways to help or donate can be found by clicking the picture.
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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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah