The Holiday Edition of The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Thursdays)
Halifax (HRM) Residential Statistic Update for the Week of Dec 12th - 19th, 2019
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 103 (141, 154, 151, 211) *133
Sold: 109 (114, 149, 141, 157) *91
Sale To Listing Ratio: 106% (81%, 97%, 93%, 74%) *68%
Price Changes: 30 (51, 103, 84, 95) *44
Listings that went conditional/pending: 111 (132, 138, 155, 158) *87
Expired/Cancelled: 85 (124, 62, 60, 69) *112
Total Active Halifax/Dartmouth Inventory: 2,308 (2,398, 2,601, 2,657, 2,721) +3,411
Absorption Rate in weeks: 18 (17, 17, 17, 17) *33
Single Family Home Stats
Active Single Family Home: 1,139 (1,202, 1,336, 1,372, 1,437) *1,838
Average Single Family Home List Price: $337,991 ($358k,$373k,$381k,$389k) *$306k
Average Single Family Home Selling Price: $333,472 ($356k,$365k,$371k,$375k) *$297k
Single Family Home Sale to List Ratio This Week: 99% (99%, 98%, 97% 96%) *97%
Median Single Family Home List Price (6 mo): $314,900 ($315k,$310k,$310k,$310k)*$284k
Median Single Family Home Sold Price (6 mo):$307,900 ($308k,$305k,$305k,$304k)*$279k
Average Days on Market Single Family Home: 80 (89, 66, 66, 83) *53
Active Condos: 169 (177, 187, 195, 194) *275
Average Condo Listing Price: $300,726 ($285k, $292k, $240k, $239k) *$206k
Average Condo Selling Price: $291,889 ($281k, $290k, $234k, $232k) *$200k
Condo Sale to List Ratio This Week: 97% (98%, 99%, 98%, 97%) 97%
Median Condo List Price (6 mo): $244,900 ($243k, $245k, $249k, $248k) *$230k
Median Condo Sold Price (6 mo): $238,500 ($237k, $239k, $239k, $239k) *$225k
Average Days on Market Condos: 47 (29, 35, 57, 57) *96
Active Vacant Lots: 826 (841, 874, 880, 878) *1,022
No surprises here. Another week closer to the holidays, and another week of significant inventory reduction across all tracked products. As you will notice from this weeks report, we are headed to the lowest activity and inventory of the year. Just look at the measly new listing additions to the market this week! Most are out shopping for presents around this time of year, so shopping for properties takes a bit of a back seat in the next couple of weeks. Not to mention, it's hard to get anything transacted with so many of the key players of a purchase or sale of property on holidays as well. Even price changes were at an all time low this week, since the purpose of a price change is usually to entice buyers to revisit the property, or bring new buyers to the new price point. Not much of a point advertising to a near empty audience. Not so surprising about this market year is that buyers are surging right until the end. Lots of inquiries still happening, showings going on and properties finding themselves under agreement this week. Surely it will wain in the next week or so, but this has been a very surprising market year overall. 2019 is almost in the books, and what a year it was! Thank you all for stopping by! See you in 2020!!
I just wanted to wish all my clients (past, present and future), friends, family and readers of the blog a very Merry Christmas and Happy New Year! The weekly market rant will return in 2020, with the 2019 market year summary! Be sure to stop by!
The Weekly Adogtable
At just 3 years old Blossom will melt your heart once you first meet her. This sweetheart is looking for a family that will give her all the cuddles she could ever ask for! She loves going for walks depending on the weather. After a long day of being praised for the good girl she is (tough job), she likes to unwind by snuggling up on a comfy bed and getting some well-deserved beauty sleep. Why not add to the praise she deserves, and walk her today!
Seeking a home with children 12 yrs with no other animals
This "cuddly companion" is available through the NSSPCA, a non profit rescue organization from Halifax, Nova Scotia. More info about her and 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!
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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