Halifax (HRM) Residential Market Statistic Update for the Week of August 25th - September 1st, 2016 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New Listings: 306 (228, 306, 316, 305) *279 Sold: 132 (153, 142, 148, 123) *125 Sale To Listing Ratio: 43% (67%, 46%, 47%, 40%) *45% Price Changes: 210 (215, 200, 259, 201) *266 Listings that went conditional/pending: 147 (148, 167, 164, 145) *141 Expired/Cancelled/Withdrawn: 302 (115, 154, 115, 284) *293 Total Active Halifax/Dartmouth Inventory: 5,260 (5,377, 5,412, 5,421, 5,389) *5,830 Absorption Rate in weeks: 37 (38, 38, 38, 39) *44 Single Family Home Stats Active Single Family Home: 3,426 (3,531, 3,556, 3,570, 3,564) *3,938 Average Single Family Home List Price: $283,407 ($316k, $278k, $275k, $305k) *$293k Average Single Family Home Selling Price: $272,605 ($302k, $265k, $262k) *$278k Single Family Home Sale to List Ratio This Week: 96% (96%, 95%, 95%, 96%) *95% Median Single Family Home List Price: $259,888 ($265k, $253k, $240k, $285k) *$260k Median Single Family Home Sold Price: $245,000 ($260k, $243k, $230k, $274k) *$248k Average Days on Market Single Family Home: 94 (101, 102, 90, 98) *104 Condo Stats Active Condos: 479 (490, 502, 507, 493) *484 Average Condo Listing Price: $267,129 ($340k, $207k, $242k, $241k) *$249k Average Condo Selling Price: $257,207 ($330k, $199k, $234k, $232k) *$239k Condo Sale to List Ratio This Week: 96% (97%, 96%, 97%, 97%) *96% Median Condo List Price: $249,900 ($260k, $184k, $210k, $227k) *230k Median Condo Sold Price: $244,250 ($251k, $180k, $205k, $222k) *223k Average Days on Market Condos: 77 (96, 61, 65, 94) *97 Active Vacant Lots: 1,090 (1,087, 1,088, 1,072, 1,060) *1,097 MARKET RANT It has been quite the Summer! The usually sleepy Summer market has proven to be much more active than initially anticipated... for Buyers anyways. Sellers have really taken a step back from the market it appears, as the entire year has seen fewer weekly additions than recent previous years have reported. This could be influenced by the previous years markets, as Sellers flooded the market without knowing their current market environment, so Sellers in todays market might be better prepared to face the current conditions. One could almost speculate that the worst of our down trend is in the past, but the Halifax market is anything but predictable. All signs are pointing to a more balanced market, with Buyer activity holding fast and new product additions listing more competitively (somewhat). With the school year starting, activity around this time of year almost screeches to a halt for a few weeks, but that doesn't mean in stops for everyone. There are still many Buyers out there looking for properties, and with the inventory rapidly decreasing, the lack of selection and availability is becoming a real problem in some areas. Still, there does seem to be a lack of engagement from Buyers, but I can't help but think that some are waiting for the perfectly matched property that may never come? Buyer's mentality is "buyer's market", but that might not be quite accurate. Sure, it's still a "buyer's market", but not in some areas, and certainly not what it has been over the last few years. I know I will keep watching as things develop, so stay tuned and stay informed! WEEKLY ADOPTABLE Meet Nova. This sweet girl is just 7 months old. Shes vaccinated, spayed and microchipped. She is dog friendly but NO cats, and also comes fully house broken. She is also on parasite control. She loves doggy daycare but would prefer in her forever home to be the only pet as she is an attention hound and gets jealous if tehr wis just her and one pet. This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Dartmouth, 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 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! VIEWPOINT REALTY
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 Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. ListingsPhoto's by Jeremiah
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