The Halifax Real Estate Market Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Statistic Update for the Week of May 31st - June 7th, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 378 (350, 336, 420, 379) *449
Sold: 218 (194, 195, 202, 186) *197
Sale To Listing Ratio: 58% (55%, 58%, 48%, 49%) *44%
Price Changes: 246 (264, 165, 215, 204) *251
Listings that went conditional/pending: 198 (247, 195, 237, 191) *227
Expired/Cancelled/Withdrawn: 173 (81, 90, 69, 82) *194
Total Active Halifax/Dartmouth Inventory: 4,249 (4,235, 4,229, 4,193, 4,088) +4,944
Absorption Rate in weeks: 21 (22, 23, 23, 23) *26
Single Family Home Stats
Active Single Family Home: 2,478 (2,472, 2,480, 2,426, 2,364) *3,047
Average Single Family Home List Price: $332,960 ($339k,$322k,$356k,$348k) *$298k
Average Single Family Home Selling Price: $325,312 ($333k,$313k,$341k,$341k) *$284k
Single Family Home Sale to List Ratio This Week: 98% (98%, 97%, 95%, 98%) *95%
Median Single Family Home List Price (6 mo): $289,000 ($286k,$285k,$285k,$286k)*$279k
Median Single Family Home Sold Price (6 mo):$280,000 ($280k,$280k,$280k,$280k)*$270k
Average Days on Market Single Family Home: 50 (53, 50, 62, 59) *80
Active Condos: 422 (415, 408, 410, 383) *487
Average Condo Listing Price: $321,062 ($307k, $285k, $254k, $265k) *$251k
Average Condo Selling Price: $310,354 ($297k, $279k, $247k, $255k) *$244k
Condo Sale to List Ratio This Week: 97% (97%, 98%, 97%, 97%) 97%
Median Condo List Price (6 mo): $237,500 ($238k, $236k, $236k, $235k) *$230k
Median Condo Sold Price (6 mo): $226,000 ($227k, $225k, $225k, $225k) *$218k
Average Days on Market Condos: 60 (59, 88, 95, 41) *95
Active Vacant Lots: 978 (975, 983, 1,000, 993) *1,160
Welcome to the peak of the season! June seems to be the month that sees both peak of activity, and the subtle turnaround to decline for the remaining year...typically anyways. This year has proven to be anything put predictable. Just when you think the market is trending in one direction, it takes a completely different one, even if it's only for a week. The story so far this year however, is the continuation of our strengthening market. Yes, strengthening. Since the turnaround of late 2016, we have seen the numbers perform better week over week, month over month, turning what used to be a Buyers market into a balanced market in such a short time. There are areas of the HRM that are seeing Sellers markets in some cases! If the stats keep trending the way they have been, I would say that is right where we are destined to end up. With the continued strong sales/low weekly inventory addition combo, the absorption rate continues to decline, so the question remains, where will it stop. Stay tuned to find out! Thanks for stopping by!
The Weekly Adogtable!
If you're looking for an adventurous four-legged friend this summer, come and meet Sophia! Sophia not only enjoys the water, but loves long walks, games of fetch and tug-of-war. She loves the great outdoors and lounging in the sun on warm days. If you have a summer bucket list, Sophia would love to accomplish these things with you!
Sophia's ideal home would be:
- Without other animals
- With children over the age of 12
Sophia gets excited very easily and will benefit from leadership and obedience. Because of this, registration with obedience classes is mandatory upon adoption. She also prefers the company of people over animals so no dogs or cats for her.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him and other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE
LET ME HELP YOU OUT!
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 contact me with questions or comments. 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. Don't forget to bookmark my page, and visit often!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
Newest Blog post HERE
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