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Halifax (HRM) Residential Statistic Update for the Week of March 19th-26th, 2020 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 215 (301, 336, 275, 234) *291 Sold: 158 (182, 158, 170, 180) *155 Sale To Listing Ratio: 74% (60%, 47%, 62%, 77%) *53% Price Changes: 75 (84, 55, 55, 71) *105 Listings that went conditional/pending: 156 (214, 224, 193, 194) *190 Expired/Cancelled: 66 (58, 73, 72, 45) *67 Total Active Halifax/Dartmouth Inventory: 2,189 (2,184, 2,169, 2,148, 2,135) +3,181 Absorption Rate in weeks: 13 (13, 14, 14, 15) *23 Single Family Home Stats Active Single Family Home: 1,163 (1,155, 1,147, 1,102, 1,105) *1,720 Average Single Family Home List Price: $368,480 ($359k,$393k,$323k,$342k) *$381k Average Single Family Home Selling Price: $366,549 ($357k,$390k,$316k,$337k) *$370k Single Family Home Sale to List Ratio This Week: 99% (99%, 99%, 98%, 98%) *97% Median Single Family Home List Price (6 mo): $315,000 ($315k,$315k,$313k,$315k)*$290k Median Single Family Home Sold Price (6 mo):$314,500 ($310k,$310k,$309k,$310k)*$284k Average Days on Market Single Family Home: 36 (43, 59, 66, 62) *62 Condo Stats Active Condos: 142 (146, 137, 131, 128) *255 Average Condo Listing Price: $301,145 ($348k, $370k, $323k, $300k) *$252k Average Condo Selling Price: $299,787 ($351k, $376k,$316k, $289k) *$246k Condo Sale to List Ratio This Week: 99% (100%, 101%, 98%, 96%) 97% Median Condo List Price (6 mo): $259,900 ($255k, $251k, $250k, $250k) *$240k Median Condo Sold Price (6 mo): $254,100 ($249k, $248k, $242k, $241k) *$232k Average Days on Market Condos: 20 (56, 78, 44, 30) *82 Active Vacant Lots: 740 (735, 743, 762, 754) *948 Market Rant Definitely a sharp decline in activity this week, which was to be expected with a state of emergency issued over our city, but not as much as I was thinking. New listings had a measly showing this week, which is likely a direct cause of the pandemic since sellers who are occupying their homes are less likely to be ok with a train of strangers going through their homes to potentially contaminate it. Luckily, as mentioned last week, increased sanitary measures have been established when showing homes, in an attempt to keep people as protected as possible. Common showing instructions are no longer simple "please remove shows, and don't let the cat out" requests, they are now a bit more robust, with the addition of "people with cold or flue like symptoms are not allowed to view, who have travelled, limited numbers are allowed during showings (sorry mom and dad), and to wear PPE where possible (some homes are a must do). With these new measures in place, people are still allowing showings, and buyers are still interested in trekking out to visit homes, so we continue to limp along like many other industries. There was a significant drop in buyer activity this week, but again, it wasn't as much of a hit that I expected. As service after service shuts down, I wonder if that will continue the downward trend in this unique situation, or will it take a full stop on real estate activities all together to stop the market. For now, things carry on, although different, more cautious. Stay tuned to the blog to stay on top of this quickly changing situation as it pertains to our market, stay safe, and thanks for stopping by! The Weekly Adogtable! Walter is very active, playful, affectionate, amicable and vocal. He was never walked (doesn't understand the leash) but is house trained and crate trained. He was being left alone +/- 6 hours/day but barked a lot (possible separation anxiety?). He is playful w/ dogs (his sibling), unknown w/ other dogs but seems interested. Good w/ physical manipulations if he knows you (has a social disposition). Knows basic commands. Never seen a cat or other small animal. Good w/ kids: was living with 3 kids (2, 10 and 13 yrs). This "cuddly companion" is available through Good Bones Dog Rescue, 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!  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. We also offer mortgage and insurance solutions too! 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 Halifax (HRM) Residential Statistic Update for the Week of March 12th-19th, 2020 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 301 (336, 275, 234, 255) *260 Sold: 182 (158, 170, 180, 132) *139 Sale To Listing Ratio: 60% (47%, 62%, 77%, 52%) *55% Price Changes: 84 (55, 55, 71, 59) *69 Listings that went conditional/pending: 214 (224, 193, 194, 206) *161 Expired/Cancelled: 58 (73, 72, 45, 49) *75 Total Active Halifax/Dartmouth Inventory: 2,184 (2,169, 2,148, 2,135, 2,137) +3,147 Absorption Rate in weeks: 13 (14, 14, 15, 17) *24 Single Family Home Stats Active Single Family Home: 1,155 (1,147, 1,102, 1,105, 1,102) *1,688 Average Single Family Home List Price: $359,052 ($393k,$323k,$342k,$345k) *$365k Average Single Family Home Selling Price: $357,314 ($390k,$316k,$337k,$341k) *$358k Single Family Home Sale to List Ratio This Week: 99% (99%, 98%, 98%, 99%) *98% Median Single Family Home List Price (6 mo): $314,900 ($315k,$313k,$315k,$315k)*$290k Median Single Family Home Sold Price (6 mo):$310,000 ($310k,$309k,$310k,$310k)*$280k Average Days on Market Single Family Home: 43 (59, 66, 62, 75) *68 Condo Stats Active Condos: 146 (137, 131, 128, 135) *254 Average Condo Listing Price: $348,420 ($370k, $323k, $300k, $333k) *$237k Average Condo Selling Price: $351,316 ($376k,$316k, $289k, $323k) *$228k Condo Sale to List Ratio This Week: 100% (101%, 98%, 96%, 97%) 96% Median Condo List Price (6 mo): $254,900 ($251k, $250k, $250k, $250k) *$239k Median Condo Sold Price (6 mo): $248,950 ($248k, $242k, $241k, $242k) *$230k Average Days on Market Condos: 56 (78, 44, 30, 43) *54 Active Vacant Lots: 735 (743, 762, 754, 754) *938 Market Rant I think things will start to look much different next week, but for now, the real estate market seems quite unfazed by the pandemic we find ourselves in. Listings poured to the market, sales were solid, and there were over 200 listings that received and accepted offers this week. Not what you would expect in our current situation, but things have significantly changed in the last week. Real estate markets, much like any large market, is a big train that will need a bit of time and track to come to a halt. With no indication that the day-to-day activities associated with buying or selling will halt completely, it looks like business almost as usual for the front line personnel, who continue to push on with showings and transaction related details. I say "almost" as usual, as guidelines are being established, and heightened precautions including enhanced sanitary and screening protocols, working remotely where possible, and even a legal declaration for potential buyers or sellers to sign, to take extra steps in order to protect the public, clients, and parties still out there conducting business. I imagine many relocations will follow suit to most non-critical activities and postpone transfers, much like the military has already done, which will apply some brakes, as well as the overall continued shutdown of services around the nation. I do feel it will be a slingshot effect though, and once this thing is over, there will be a surge of activity after we get the all clear. For now, we all stand by for that announcement. Thanks for stopping by! The Weekly Adogtable! Meet Punch! Surrendered due to resource guarding (none noted within foster home). Very good w/ dogs, very submissive. Good w/ horses Good w/ cats Not recommended w/ kids (possible guarding) Outgoing w/ strangers - loves everyone! Sweet, social, calm and mature House trained Energy level 3/5 Good teeth condition Not destructive Crate trained Slight separation anxiety This "cuddly companion" is available through Good Bones Dog Rescue, 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!  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. We also offer mortgage and insurance solutions too! 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 3Halifax (HRM) Residential Statistic Update for the Week of March 5th-12th, 2020 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 336 (275, 234, 255, 262) *251 Sold: 158 (170, 180, 132, 130) *146 Sale To Listing Ratio: 47% (62%, 77%, 52%, 50%) *58% Price Changes: 55 (55, 71, 59, 77) *100 Listings that went conditional/pending: 224 (193, 194, 206, 188) *169 Expired/Cancelled: 73 (72, 45, 49, 58) *61 Total Active Halifax/Dartmouth Inventory: 2,169 (2,148, 2,135, 2,137, 2,156) +3,160 Absorption Rate in weeks: 14 (14, 15, 17, 19) *25 Single Family Home Stats Active Single Family Home: 1,147 (1,102, 1,105, 1,102, 1,105) *1,700 Average Single Family Home List Price: $392,563 ($323k,$342k,$345k,$333k) *$337k Average Single Family Home Selling Price: $389,994 ($316k,$337k,$341k,$327k) *$330k Single Family Home Sale to List Ratio This Week: 99% (98%, 98%, 99%, 98%) *98% Median Single Family Home List Price (6 mo): $314,900 ($313k,$315k,$315k,$315k)*$289k Median Single Family Home Sold Price (6 mo):$310,000 ($309k,$310k,$310k,$309k)*$280k Average Days on Market Single Family Home: 59 (66, 62, 75, 57) *55 Condo Stats Active Condos: 137 (131, 128, 135, 141) *260 Average Condo Listing Price: $369,974 ($323k, $300k, $333k, $275k) *$295k Average Condo Selling Price: $375,489 ($316k, $289k, $323k, $271k) *$285k Condo Sale to List Ratio This Week: 101% (98%, 96%, 97%, 98%) 97% Median Condo List Price (6 mo): $251,200 ($250k, $250k, $250k, $250k) *$240k Median Condo Sold Price (6 mo): $248,000 ($242k, $241k, $242k, $243k) *$232k Average Days on Market Condos: 78 (44, 30, 43, 78) *51 Active Vacant Lots: 743 (762, 754, 754, 760) *939 Market Rant Alright! We have some inventory adding up finally. Large jumps in product inventory this week, with single family homes seeing the most significant gain. I imagine the weekly gain helped pad the numbers this week, but I don't see it lasting too long with the amount of pending sales that we seem to be taking on the regular. Both of those stats reported the highest of the season so far. I'm sure there was a few sales this week that took the single family home values over the top, but I think this is the first week that I have ever seen these numbers so close to the $500k mark. Taking a quick look, I didn't see any stand out, "over the top" listings to skew the average, so maybe there was just a few more listings that reported above the value norm this week. Still trekking along quite nicely, but the general question is how the Coronavirus will affect the national and local real estate markets. With mortgage rates dropping and Spring upon us, the local market will surly keep buzzing with activity. Some may argue that we will dive deeper into a Sellers market with the potential that sellers keep their homes off the market "just in case" causing even less to choose from, but people will need to move, so the demand will remain. It will certainly be a challenge, but with a few tweaks to the process, for now, we will certainly persevere. Stay tuned to the blog for your real estate updates, and thanks for stopping by! The Weekly Adogtable! Currently weighing 60 pounds Blue doesn't realize just how big he has gotten. He will run into you in his haste for attention. He LOVES to meet people and was living with children (although he was quite rough with them). Good with cats Selective but playful with dogs Pulls on leash (no leash skills, but we're working on this). He jumps up and is mouthy (typical puppy behavior) but he does not resource guard. Blue is crate trained and has slight separation anxiety (is improving). Blue loves to play ball and tug and is vocal when he sees someone or another dog. 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 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. We also offer mortgage and insurance solutions too! 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 Halifax (HRM) Residential Statistic Update for the Week of February 27th - March 5th, 2020 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 275 (234, 255, 262, 246) *330 Sold: 170 (180, 132, 130, 114) *126 Sale To Listing Ratio: 62% (77%, 52%, 50%, 46%) *38% Price Changes: 55 (71, 59, 77, 67) *100 Listings that went conditional/pending: 193 (194, 206, 188, 167) *166 Expired/Cancelled: 72 (45, 49, 58, 88) *102 Total Active Halifax/Dartmouth Inventory: 2,148 (2,135, 2,137, 2,156, 2,144) +3,150 Absorption Rate in weeks: 14 (15, 17, 19, 21) *26 Single Family Home Stats Active Single Family Home: 1,102 (1,105, 1,102, 1,105, 1,092) *1,674 Average Single Family Home List Price: $322,582 ($342k,$345k,$333k,$352k) *$344k Average Single Family Home Selling Price: $316,132 ($337k,$341k,$327k,$338k) *$337k Single Family Home Sale to List Ratio This Week: 98% (98%, 99%, 98%, 96%) *98% Median Single Family Home List Price (6 mo): $312,500 ($315k,$315k,$315k,$315k)*$290k Median Single Family Home Sold Price (6 mo):$309,125 ($310k,$310k,$309k,$309k)*$280k Average Days on Market Single Family Home: 66 (62, 75, 57, 67) *78 Condo Stats Active Condos: 131 (128, 135, 141, 143) *298 Average Condo Listing Price: $322,842 ($300k, $333k, $275k, $271k) *$226k Average Condo Selling Price: $315,570 ($289k, $323k, $271k, $265k) *$215k Condo Sale to List Ratio This Week: 98% (96%, 97%, 98%, 98%) 95% Median Condo List Price (6 mo): $249,900 ($250k, $250k, $250k, $250k) *$240k Median Condo Sold Price (6 mo): $242,000 ($241k, $242k, $243k, $242k) *$230k Average Days on Market Condos: 44 (30, 43, 78, 60) *108 Active Vacant Lots: 762 (754, 754, 760, 764) *932 Market Rant Alright, we are moving in the upwards direction in inventory finally! Not all products went in that direction this week though (Single Family Homes I'm looking at you), but there was, at least, overall inventory gain this week. Still a good 1,000 inventory gap between this year and last year, so product scarcity is a real issue for Buyers on the market right now. Likely see more inventory come to market in the coming weeks as we approach the peak inflation time of the year, but the question will be how high it will go. Given the sustained demand on most products in most areas, we are likely so continue the drought, but one never knows when the market will adjust. I've noticed some small cracks in the veneer in the last few weeks though, like the single family home six month median and average home selling prices taking a shave this week, as well as not having to compete in a multi-offer situation to win a bid! I'm sure these are not going to become common place just yet, but I was quite shocked to not have to "improve" an offer once submitted because 10 more offers followed up behind mine. It was a nice change, especially for my clients. Still, the Absorption Rate tells a different tale with yet another week of reduction, and elevated conditional sale stats are prevailing. Much like our weather, it's a mixed bag, so stay tuned to blog for your market forecast! Thanks for stopping by! The Weekly Adogtable! Small but mighty! Meet Yeti! This tiny abominable snowman will win your heart with his perpetual wink and his zest for life. Yeti's preferred lifestyle involves daily walks, long nap sessions on the couch, and a window to people-watch for the neighbours. Yeti does have a chronic dry eye condition, which requires eye medications daily, and veterinary check ups every 4 to 6 months. Yeti's ideal home would be: - With or without animals (calm, quiet personalities only) - With children 16+ - With people who are home most of the day - With adopters who are financially prepared to manage his chronic dry eye condition. This "cuddly companion" is available through Homeward Bound City Pound 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!  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. We also offer mortgage and insurance solutions too! 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 |
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.. 
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