The Halifax Real Estate Weekly Market Rant and Statistics Update by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of May July 9th - July 16th 2015
(Previous weeks numbers in brackets)
*Previous Year's Stats
New or Back to Market Listings: 374 (464, 341. 351, 432) *
Sold: 120 (138, 153, 165, 169) *
Sale To Listing Ratio: 32% (30%, 45%, 47%, 39%) *
Price Changes: 281 (326, 291, 349, 357)
Listings that went conditional/pending: 139 (163, 162, 178, 175, 193) *
Expired/Cancelled/Withdrawn: 111 (126, 285, 90, 166) *
Total Active Halifax/Dartmouth Inventory: 5,893 (5,800, 5,672, 5,798, 5,770) *
Active Single Family Home: 4,026 (3,971, 4,165, 4,263, 3,939) 3,900
Average Single Family Home List Price: $283,983 ($287k, $309k, $304k, $303k)
Average Single Family Home Selling Price: $274,692 ($279k, $300k, 291k, $295k)
Single Family Home Sale to List Ratio This Week: 97% (97%, 97%, 96%, 98%)
Median Single Family Home List Price: $272,400 ($270k, $270k, $265k, $265k)
Median Single Family Home Sold Price: $262,000 ($270k, $262k, $258k, $255k)
Average Days on Market Single Family Home: 68 (72, 71, 107, 83) *
Active Condos: 526 (520, 559, 577, 528) *
Average Condo Listing Price: $257,612 ($257k, $246k, $249k, $255k) *
Average Condo Selling Price: $249,448 ($247k, $237k, $239k, $250k) *
Condo Sale to List Ratio This Week: 97% (96%, 97%, 98%, 98%)
Median Condo List Price: $229,900 ($225k, $237k, $235k, $235k)
Median Condo Sold Price: $224,000 ($226k, $230k, $227k, $227k)
Average Days on Market Condos: 96 (118, 68, 103, 78) *
Absorption Rate in weeks: 41 (37, 34, 33, 35)
Active Vacant Lots: 1,035 (1,013, 994, 1,005, 923) *
Second week in a row that indicates the short lived hot streak has already started to cool off. Hi everyone, and thanks for checking in on the blog! Activity in all areas of the market have backed off the throttle this week. New listings are down, sales are down, accepted offers on properties are down, well, you get the point. Summer in Halifax has finally arrived, and it could leave would be buyers with a tough decision; "should I go out and look at homes today, or head to the beach and enjoy the hot weather". Although I don't think that weather is a huge factor with buying a home, much like our endless winter we had this year, it has to have some impact. Still, there will always be those who have a job to do, and don't have the luxury of being picky when it comes to a season to buy. Wether it be a relocation, or getting into a new residence before starting the new job, there are buyers out there that simply must find a home. Others, well, because of the slow times, they have a chance to get out and see as many listings as they can handle, and can be very selective on the choice they make. Don't like the colour of the kitchen or the floors? Let's check out the other three listings on the same street and see how they look. Not only are finishes and overall package presentation becoming a "move along" point, prices are a huge factor with selection, and now is the time to sharpen the pencil and do some number crunching with the school season quickly approaching. Thanks for stopping by!
THE WEEKLY ADOGTABLE
Jezzy is a sweet, 2 year old Amstaff looking for a new home to call her own. Jezzy loves to run around and play, she's got lots of energy to burn and looking for a family that can fulfil her needs! Jezzy hasn't been tested with cats yet, but would do well with children over the age of 8. She does well with other dogs upon meetings, but with the little amount of socialization she's had we are recommending she not be homed with another dog. Obedience classes would benefit her greatly as she still has a few manners to work on; she can get mouthy when she's excited and playing.
If you're interested in meeting this beautiful girl, come on by during our adoption hours!
Homeward Bound City Pound http://citypound.ca
This "darling diva" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her, 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 property 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.
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. 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