The Halifax Real Estate Blog's First Weekly Market Rant and Statistics Update of 2014 by Jeremiah Wallace
Halifax (HRM) Residential Market Statistic Update For Week of December 26th to January 2nd 2014
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 101 (119, 303, 300, 314) *206
Sold: 26 (51, 90, 87, 121) *49
Sale To List Ratio: 26% (43%, 30%, 29%, 39%) *24%
Expired/Cancelled/Withdrawn: 502 (95, 353, 128, 148) *453
Total Active Halifax/Dartmouth Inventory: 4,087 (4,483, 4,727, 4,974, 4,976)
Active Single Family Home: 2,632 (2,852, 3,031, 3,210, 3,239) *2,264
Average Single Family Home List Price: $299,508 ($310,477, $302,000, $282.065, $285,888) *312k
Average Single Family Home Selling Price: $288,888 ($298,157, $290,985, $272,556, $268,293) *302k
Average Days On Market Single Family Home: 125 (142, 127, 107, 107) *89
Active Condos: 371 (407, 417, 431, 413) *241
Average Condo Listing Price: $253,233 ($283,655, $300,515, $277,485, $235,185) *229k
Average Condo Selling Price: $243,722 ($279,561, $290,515, $269,842, $227,971) *223k
Average Days On Market Condos: 110 (70, 110, 74, 63) *55
Halifax/Dartmouth Absorption Rate (weeks): 57 (48, 56, 102, 48) *60
It's anomaly week! This week is traditionally the highest week of the year for listing expiries. Some will not come back to market this year, the majority of them will, but only time will tell which ones are destined to sell. Obviously there was not many sales this week with the holidays in full swing, but surprisingly enough there was 26 that did! So as our numbers start to settle over the next few weeks and the turkey gets worked off, look for insight to the start of the market forthcoming. Hopefully a turn for the better is in the cards for 2014 as many happily close the books on 2013. Curious to know how 2013 performed? Scroll down to see the 2013 market year wrap up! Thanks for stopping by!
Layla is 2 years old , up to date with vaccines and spayed , she came to us from GA where she was found as a stray and very underweight , she has now gained some weight and is looking much healthier. She absolutely loves people and kids, has no food aggression at all and is learning to walk well on leash, she is also being crate trained in her foster home and being taught basic commands. Layla needs to be the only pet in the home, she is unsure of other dogs and their intentions towards her and will snap if they are too close, over time with her forever owners she may do better with dogs if given the opportunity to socialise with the same dog on a regular basis, however this would need to be an ongoing training exercise and not something that will happen in a few weeks.
Layla 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah