The Halifax Real Estate Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Market Statistic Update for the Week of March 9th - March 16th, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 345 (370, 289, 212, 178) *356
Sold: 118 (89, 97, 103, 79) *140
Sale To Listing Ratio: 34% (24%, 34%, 49%, 44%) *39%
Price Changes: 125 (137, 142, 86, 94) *133
Listings that went conditional/pending: 160 (105, 132, 114, 103) *149
Expired/Cancelled/Withdrawn: 72 (97, 199, 69, 73) *73
Total Active Halifax/Dartmouth Inventory: 4,459 (4,367, 4,221, 4,250, 4,217) *4,593
Absorption Rate in weeks: 44 (48, 46, 48, 48) *40
Single Family Home Stats
Active Single Family Home: 2,624 (2,555, 2,488, 2,476, 2,472) *3,032
Average Single Family Home List Price: $356,771 ($325k, $331k, $306k, $298k) *$286k
Average Single Family Home Selling Price: $346,076 ($316k, $320k, $296k, $290k) *$276k
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 96%, 97%) *96%
Median Single Family Home List Price (6 months): $276,000 ($279k, $279k, $279k, $280k) *$267k
Median Single Family Home Sold Price (6 months): $267,000 ($268k, $269k, $268k, $268k) *$258k
Average Days on Market Single Family Home: 89 (119, 95, 101, 75) *94
Active Condos: 440 (440, 414, 416, 409, 408) *421
Average Condo Listing Price: $298,228 ($321k, $271k, $233k, $210k) *$225k
Average Condo Selling Price: $290,121 ($303k, $269k, $228k, $203k) *$216k
Condo Sale to List Ratio This Week: 97% (94%, 99%, 98%, 97%) 96%
Median Condo List Price (6 months): $225,000 ($230k, $225k, $230k, $230k) *$160k
Median Condo Sold Price (6 months): $218,900 ($220k, $220k, $220k, $221k) *$152k
Average Days on Market Condos: 146 (85, 113, 141, 182, 178) *119
Active Vacant Lots: 1,158 (1,138, 1,098, 1,122, 1,098) *928
Come on Winter...get going! I can't be the only one who's ready for sunshine and warm weather? By the looks of the new listing additions, Sellers are getting a bit antsy too and continue to list ahead of the Spring market. Buyer activity continues surge as well, and with fewer property options, Buyers anxiously await new products to hit the shelves to find the right fit. Property value overall is reporting solid as of late as well. Both single family home and condo values continue to increase, including their six month median price. Because the median price tracks for a longer period, it is definitely a better indicator of overall trend vs the weekly report. The weekly average value reports can be skewed by really expensive or cheaper products, where condo's really feel the fluctuations due to the lack of sales week over week. Both products have historically increased values at this point, and continue to report higher than last year at this time. As we wait out the final days of this dragging season, it will be interesting to see things change and progress as we enter Spring. Stay tuned to keep up to date, and thanks for stopping by!
Meet new Good Bones Dog Trooper. We want to get to know him better before adoption. He was found homeless and his neck and ears were injured likely from a dog attack. he walks by them on leash fine but reacts if too close. He is still trusting and accepts touch all over, wags his tail. No kids, no pets for now.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever 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 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!
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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. Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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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