The Halifax Weekly Real Estate Blog Weekly Market Update and Statistics Report (Every Thursday)

Halifax (HRM) Residential Market Statistic Update For Week of May 9th-16th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  570 (606, 683, 573, 616) *563
Sold:  176 (172, 166, 153, 109) *199
Sale To List Ratio: 31% (28%, 24%, 26%, 18%) *35%
Expired/Cancelled/Withdrawn:  106  (97, 125, 91, 83) *65
Total Active Halifax/Dartmouth Inventory:  5,369 (5,213, 5,084, 4,933, 4,791)
Active Single Family Home: 3608 (3505, 3423, 3287, 3187) *2950
Average Single Family Home List Price:  $303,040 ($296,250, $293,869, $319,827, $309,518 *296k
Average Single Family Home Selling Price:  $295,780 ($288,403,$286,471, $311,439, $301,840) *289k
Average Days On  Market Single Family Home: 85 (80, 74, 90, 80) *79
Active Condos:  418  (404, 384, 371, 353) *252
Average Condo Listing Price:  $211,677 ($263,420, $293,533, $288,341, $295,646) *254k
Average Condo Selling Price:  $204,671 ($258,366, $285,818, $280,358, $288,946) *250k
Average Days On Market Condos:  48 (44, 72, 120, 107) 84
Halifax/Dartmouth Absorption Rate (weeks):  35 (38, 39, 40, 40)

Another positive market performance this week! The numbers to note this week are the sales to list ratio, which is the highest it has been this year so far, and the absorption rate. Reducing by three weeks, the absorption  rate is also a number that is at its best right now, and by best I mean lowest. Those two stats are good indicators of things to come in the near future, keeping in mind that they are based on inventory transactions of the past. I was thinking of a way to track a more tangible means to get a better focus on narrowing down the offer process to reflect a more current timetable. The first thing that usually happens (within 48hrs anyways) is that real estate agents change the status of a listing to "conditional/pending" once an offer has been accepted. I could add this statistic to the Blog if I had enough feedback saying that it would be welcomed. The positive being the ability to see how many people are out there making offers each week so it could be a gauge or tool to track buyers activity, the negative being that its still not a perfect indicator due to the fact that a percentage of accepted offers fall flat due to a condition(s) not being met and offers can go days before being agreed upon or entered into the system. I'll put it out there though and see what my loyal readers think. Heres the stat from the week;

Properties that went conditional/pending (accepted offer) 173

Make sure to check out the Halifax Real Estate Blog monthly market wrap up for April by scrolling down! Thanks

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