The Halifax Real Estate Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Statistic Update for the Week of February 22nd - March 1st, 2018
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 325 (240, 276, 289, 199) *289
Sold: 129 (105, 99, 101, 123) *97
Sale To Listing Ratio: 40% (44%, 36%, 35%, 62%) *34%
Price Changes: 125 (106, 103, 89, 84) *142
Listings that went conditional/pending: 164 (160, 125, 146, 131) *132
Expired/Cancelled/Withdrawn: 139 (69, 88, 155, 148) *199
Total Active Halifax/Dartmouth Inventory: 3,620 (3,606, 3,605, 3,553, 3,521) +4,221
Absorption Rate in weeks: 33 (34, 34, 36, X) *46
Single Family Home Stats
Active Single Family Home: 1,961 (1,934, 1,932, 1,903, 1,891) *2,488
Average Single Family Home List Price: $335,966 ($334k,$304k,$323k,$308k) *$331k
Average Single Family Home Selling Price: $321,519 ($319k,$297k,$311k,$299k) *$319k
Single Family Home Sale to List Ratio This Week: 96% (96%,98%, 96%, 97%) *97%
Median Single Family Home List Price (6 mo): $278,800 ($277k,$275k,$275,$275k)*$279k
Median Single Family Home Sold Price (6 mo):$269,900 ($270k,$268k,$269k,$268k)*$269k
Average Days on Market Single Family Home: 73 (87, 110, 95, 91) *95
Active Condos: 366 (368, 365, 359, 348) *414
Average Condo Listing Price: $227,375 ($250k, $285, $221k, $266k) *$271k
Average Condo Selling Price: $220,876 ($243k, $276k, $216k, $263k) *$269k
Condo Sale to List Ratio This Week: 97% (97%, 97%, 98%, 99%) 99%
Median Condo List Price (6 mo): $238,900 ($239k, $238k, $239k, $239k) *$225k
Median Condo Sold Price (6 mo): $232,000 ($232k, $230k, $233k, $235k) *$219k
Average Days on Market Condos: 47 (69, 58, 87, 83) *113
Active Vacant Lots: 973 (981, 982, 963, 954) *1,098
A marginal gain to the overall inventory this week as we get closer to putting Winter in the books. Although, with the mild weather during the season, we only had a small break for the holidays, then it was back to business as usual! Things are still looking good out there, and with Spring just around the corner, I'm excited to see how we shape up compared to last year. Speaking of, last year was the first full year of the turn around, which has certainly propped up this market year with a solid start, so its full impact will surely be felt this year (if it hasn't already). A few more listings to week this week than we have seen so far this year, but they were met with an above average active buyer environment which resulted in a solid amount of sale. Buyer activity is still holding strong this week with 164 offers that have been accepted, and the sales to list ratio actually declined this week. Normally we see the sales to list ratio inflate a bit around this time of year due to ballooning inventory and lack of buyers, but that is not the case this year. The big question of 2018; "will the balanced market swing into an Sellers market?". Only time will tell, so make sure to check in to the HREB to keep up to date! Thanks for stopping by!
The Weekly Adogtable!
*Serious Inquiries Only*
Radar is an energetic, playful, affectionate boy who is looking for the perfect fur-ever home. He has been diagnosed with hip dysplasia and requires a family that can manage this condition. He will require frequent walks to help strengthen his muscles. We don't want him getting too rambunctious so a home without other dogs is recommended. He loves spending time with people so if you're home frequently, that's a plus to him!
Radar requires a home:
- With children over the age of 12
- With a family financially able to meet his medical needs
This "cuddly companion" is available through Homeward Bound City Pound, 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
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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