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 February 6th-February 13th 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 333 (405, 341, 345, 389) *361
Sold: 107 (61, 76, 51, 51) *87
Sale To List Ratio: 32% (15%, 22%, 16%, 13%) *24%
Listings that went conditional/pending: 88 (129, 88)
Expired/Cancelled/Withdrawn: 78 (168, 90, 89, 114) *123
Total Active Halifax/Dartmouth Inventory: 4,277 (4,440, 4,499, 4,411, 4,347) *3,876
Active Single Family Home: 2,741 (2,850, 2,869, 2,828, 2,800) *2,519
Average Single Family Home List Price: $313,026 ($306,392, $304,586, $262,263, $286,360) *286k
Average Single Family Home Selling Price: $305,798 ($296,392, $286,986, $245,527, $280,295) *272k
Average Days On Market Single Family Home: 108 (98, 106, 125, 113) *97
Active Condos: 449 (442, 438, 436, 415) *301
Average Condo Listing Price: $272,556 ($267,556, $242,886, $269,900, $245,728) *246k
Average Condo Selling Price: $268,300 ($259,437, $230,212, $262,450, $240,664) *242k
Average Days On Market Condos: 127 (107, 104, 126, 107) *44
Halifax/Dartmouth Absorption Rate (weeks): 63 (55, 52, 102, 75) *49
Not a bad week on the market at all! One of the fewest gains in a week so far this year and the most amount of sales so far as well, by a lot. Sales to list ratio was able to take a step in the right direction, and single family homes had average sales over 300k for the first time this year. Still, days on market remain over three months for both products, and although inventory actually reduced for single family homes this week, it still remains high. Nothing like an update from Irving on the status of the shipbuilding contract to get the water cooler water bubbling and the tongues wagging. Mind you, with a down market over the last few years, the confirmation of commencement may be just the news that some buyers have been waiting on wether it be for a first time purchase, or upgrade. Activity is quite heavy for this time of year, and It has been noticed by many people I come into contact with. Guess we will have to wait and see if this week was just "due" or if it's the start of new direction, Guess you'll have to come back to find out! Thanks for stopping by and please don't forget to scroll down and check out January's stats update.
Cubby is a sweet, loving 2 year old AmStaff looking for his forever home. This boy has been through a lot in his short life span; he was picked up running at large and it was clear he had been living outside for quite some time. Despite all of this, Cubby is a very affectionate, trusting boy who does great with all people, children, and even dogs! Cubby was actually used as the test-dog while he was at the pound, and has since moved into a foster home with 3 other dogs without any issues. With a little training to help him lkearn not to jump up, Cubby will be an amazing job for just about anyone, especially because he is not a barker! No cats for Cubby though! Cubby does have a mild case of Pulmonic Stenosis which affects his heart, but his case is so mild that he should live a long, healthy life without medication and no physical symptoms. Cubby is neutered, vaccinated, parasite treated, microchipped, and finally ready to meet his family.
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.
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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