The Halifax Real Estate Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Thursdays)
Halifax (HRM) Residential Statistic Update for the Week of Nov 28th - Dec 5th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 197 (154, 151, 211, 221) *146
Sold: 141 (149, 141, 157, 174) *114
Sale To Listing Ratio: 72% (97%, 93%, 74%, 79%) *78%
Price Changes: 91 (103, 84, 95, 96) *76
Listings that went conditional/pending: 133 (138, 155, 158, 188) *96
Expired/Cancelled: 219 (62, 60, 69, 199) *208
Total Active Halifax/Dartmouth Inventory: 2,483 (2,601, 2,657, 2,721, 2,722) +3,493
Absorption Rate in weeks: 17 (17, 17, 17, 17) *34
Single Family Home Stats
Active Single Family Home: 1,287 (1,336, 1,372, 1,437, 1,444) *1,886
Average Single Family Home List Price: $355,844 ($373k,$381k,$389k,$347k) *$330k
Average Single Family Home Selling Price: $344,437 ($365k,$371k,$375k,$340k) *$310k
Single Family Home Sale to List Ratio This Week: 97% (98%, 97% 96%, 98%) *97%
Median Single Family Home List Price (6 mo): $314,900 ($310k,$310k,$310k,$310k)*$285k
Median Single Family Home Sold Price (6 mo):$307,900 ($305k,$305k,$304k,$305k)*$280k
Average Days on Market Single Family Home: 74 (66, 66, 83, 66) *70
Active Condos: 170 (187, 195, 194, 190) *289
Average Condo Listing Price: $235,158 ($292k, $240k, $239k, $225k) *$277k
Average Condo Selling Price: $227,482 ($290k, $234k, $232k, $224k) *$262k
Condo Sale to List Ratio This Week: 97% (99%, 98%, 97%, 99%) 95%
Median Condo List Price (6 mo): $242,900 ($245k, $249k, $248k, $250k$230k
Median Condo Sold Price (6 mo): $236,900 ($239k, $239k, $239k, $240k) *$225k
Average Days on Market Condos: 53 (35, 57, 57, 46) *84
Active Vacant Lots: 836 (874, 880, 878, 868) *1,011
After making the 1000 unit listing spread from this year to last official last month, we have been hovering around that gap ever since! Although there was a significant weekly loss to both single family homes and condo's, the overall reduction wasn't felt as badly as those numbers reported. The impact was slightly cushioned by the new weekly additions, but there was still a decent showing of overall market shrinkage given the time of year and annual trend. Buyer activity is still in full swing, and despite being lower than we are used to seeing, it is still elevated for this time of year. I have a pretty good feeling that this year will really push right until the end of December, but also question the current path and when there will be too much of swing in the market to make it unviable for buyers. This year was already a challenge for most buyers in most areas, so just looking at how far off we are from the stats of last year should indicate just how quickly things can change. Imagine we increase that inventory spread by another 1000 units by this time next year, that leaves a measly 1,500 units for sale in the entire HRM. If momentum picks up, we could see those units melt away even more, which might leave Halifax in a real pickle. Only time, and the numbers will tell, so make sure to keep on top of things by tuning into the blog! Thanks for stopping by!
The Weekly Adogtable
Chico is an affectionate boy once he trust you. He is partial to the ladies and has a calm disposition. Chiko is playful, loves to eat and can be fearful and guarded until he trust you and feels safe. He was living with young children and a amstaff. With treats, he will approach and seems curious.When outdoors, he allows you to touch him but remains suspicious. Chiko does not seems to like the other dogs but was living w/ another dog and he is being fostered with a little schnauzer mix! More updates to come as he settles in. Amicable w/ other pets.
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.
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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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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