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Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 356 (307, 365, 386, 375) *349 Sold: 192 (220, 197, 176, 203) *209 Sale To Listing Ratio: 54% (72%, 54%, 46%, 54%) *60% Price Changes: 112 (122, 102, 81, 79) *62 Listings that went conditional/pending: 206 (227, 248, 262, 199) *258 Expired/Cancelled/Withdrawn: 56 (45, 44, 59, 34) *41 Total Active Halifax/Dartmouth Inventory: 1,178 (1,097, 1,077, 1,010, 1,008) +1,184 Absorption Rate in weeks: 6 (6, 6, 5, 5) *6 Single Family Home Stats Active Single Family Home: 587 (522, 552, 483, 480) *468 Average Single Family Home List Price: $548,980 ($529k,$548k,$503k,$512k) *$408k Average Single Family Home Selling Price: $587,237 ($577k,$599k,$570k,$576k) *$465k Single Family Home Sale to List Ratio This Week: 107% (110%, 110%, 113%, 113%) *114% Median Single Family Home List Price (6 mo): $449,949 ($450k,$450k,$450k,$450k) *$385k Median Single Family Home Sold Price (6 mo):$545,000 ($545k,$545k,$540k,$541k)*$433k Average Days on Market Single Family Home: 13 (9, 10, 9, 7) *16 Condo Stats Active Condos: 101 (102, 93, 91, 93) *99 Average Condo Listing Price: $367,468 ($587k, $418k, $408k, $380k) *$390k Average Condo Selling Price: $384,181 ($603k, $450k, $442k, $422k) *$424k Condo Sale to List Ratio This Week: 105% (103%, 108%, 108%, 111%) *109% Median Condo List Price (6 mo): $389,900 ($390k, $390k, $390k, $389k) *$320k Median Condo Sold Price (6 mo): $447,500 ($450k, $446k, $448k, $445k) *$350k Average Days on Market Condos: 10 (12, 13, 7, 7) *9 Active Vacant Lots: 297 (287, 269, 255, 252) *463 Market Rant Just like that, we have over 100 more listings on the market right now than we did at the same time last year, which is good news for buyers out there, but not so good for any Sellers that are trying to scramble to market in hopes of capitalizing on the fading market. There is still quite a bit of buyer interest out there, it just seems to be lacking in many areas of the city. Perhaps the uncertainty of things has made some take a step back, or the pending interest rate hikes have caused a further evaluation. Either way, the lack of buyer activity has been noticeable. Values remain strong this week, but you can start to see indications to support the notion of the correcting market. Things like the sales to list ratio, especially single family homes, who have seen a continued decline as the weeks march on. Overall, the air is being let out, and it is happening much faster than expected. As touched on in previous posts, as sellers increase the pace on getting to market, inventory rises while demand wains. As this happens, the overbid strategy that has worked for the last couple of years is now becoming less and less useful. It works if you have a ton of buyers to draw from, but when the competition grows, this strategy will have to be put on ice. We have seen prices increase after a failed offer holdover window, causing listings to negotiate backwards like the good old days. This will continue to happen over and over until the market corrects and buyers set the tone for prices they are willing to absorb. Time will tell where it will all end up, so stay tuned to the blog to keep track of things! Thanks for stopping by! The Weekly "Adogtable" Meet Hawk. Breed: lab mix. Age: 3 yrs old. Neutered and up to date on vaccines. Perfect health House trained Not destructive No separation anxiety Can be left if you work No very fast learner Bonds quickly and loves his person. Very affectionate and gentle dog with his person once bonded. He lived with horses and with a cat. He was excited with the cat the first few days, then with safe intros over time he and the cat then learned to sleep and play together. He accepts visitors well but has never been around young children. Has been socialized with several respectful dogs (of his size and he has made friends with nice body language and he shares toys. This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from 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 Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 307 (365, 386, 375, 360) *355 Sold: 220 (197, 176, 203, 215) *223 Sale To Listing Ratio: 72% (54%, 46%, 54%, 60%) *63% Price Changes: 122 (102, 81, 79, 95) *57 Listings that went conditional/pending: 227 (248, 262, 199, 259) *269 Expired/Cancelled/Withdrawn: 45 (44, 59, 34, 44) *44 Total Active Halifax/Dartmouth Inventory: 1,097 (1,077, 1,010, 1,008, 872) +1,102 Absorption Rate in weeks: 6 (6, 5, 5, 4) *5 Single Family Home Stats Active Single Family Home: 522 (552, 483, 480, 380) *435 Average Single Family Home List Price: $529,069 ($548k,$503k,$512k,$530k) *$420k Average Single Family Home Selling Price: $577,001 ($599k,$570k,$576k,$610k) *$482k Single Family Home Sale to List Ratio This Week: 110% (110%, 113%, 113%, 115%) *115% Median Single Family Home List Price (6 mo): $449,900 ($450k,$450k,$450k,$450k) *$385k Median Single Family Home Sold Price (6 mo):$545,000 ($545k,$540k,$541k,$540k)*$430k Average Days on Market Single Family Home: 10 (10, 9, 7, 8) *16 Condo Stats Active Condos: 102 (93, 91, 93, 78) *90 Average Condo Listing Price: $587,285 ($418k, $408k, $380k, $420k) *$349k Average Condo Selling Price: $603,421 ($450k, $442k, $422k, $483k) *$372k Condo Sale to List Ratio This Week: 103% (108%, 108%, 111%, 115%) *107% Median Condo List Price (6 mo): $389,900 ($390k, $390k, $389k, $385k) *$319k Median Condo Sold Price (6 mo): $450,000 ($446k, $448k, $445k, $445k) *$345k Average Days on Market Condos: 12 (13, 7, 7, 7) *13 Active Vacant Lots: 287 (269, 255, 252, 248) *442 Market Rant A fewer new listings this week, which was quite opposite from what I was expecting given the general feel of the market right now. Still early in the day however, and Wednesday's/Thursday's seem to be the popular days to list, so expect those numbers to bump up a bit as the day wears on. I also expect this number to balloon in the coming weeks as Sellers scramble to take advantage of the fading market. Sales had a good showing this week, which is a direct influence from the last couple of weeks solid pending sales performance. Median prices held their ground, and so too did the market absorption rate. Once of the stats that continues to take off is the weekly price changes. I was curious a few weeks ago to see which direction they were going these days, and not surprisingly, changes in southern direction have started to come back! As the last few weeks have worn on, this is becoming more of a trend as well. The odd thing right now is we seem to be slipping into a reverse 2020 market, where no one really knew what bids would come in to propel the selling price to the top, where now it is uncertain of how to minimize the overbid amount. Nowadays, listing prices are mostly set with the overbid amounts in mind. The problem now with this tactic is as the market continues to soften, we are seeing more and more listings survive the offer hold over window, causing a reversal in the pricing strategy. If a listing does not achieve the overbid amount they were hoping for, the trend of kicking the price to that amount has become a new strategy. By doing this, we are already seeing listings selling at or under asking prices, or simply sitting on the market and price adjusting, and this will continue until most of the multiple offer competitions end. There will likely be many areas and products that hold out, but cooling in most areas has already taken hold, so it really is just a matter of time. The interesting times continue, so make sure to stay tuned to the blog to stay informed! Thanks for stopping by! The Weekly "Adogtable" Meet Marley! Purebred shepherd Age: fit 6 yrs old Neutered - Yes Vaccinated - Yes Cats - No Dogs - females, not males as much. Kids 12+ No resource guarding for toys No resourve guarding for food Protective of a high value bone . His story: Marley is a pure bred from a breeder of working dogs in France. He worked until the age of 4 with a handler in a security company. He was never trained for protection, he was used for drug detection and was fabulous at his job. The company closed and the handler moved out of the country abandoning him. f Marley doesn’t like other male dogs, but he gets along with puppies and respectful females. He is sociable with people, but he has a lot of drive and needs someone with good leadership and guidance to bring out his full potential. He loves to work on obedience, can play ball or frisbe for hours and would still have a lot of potential to practice a dog sport (agility, odor detection, etc.) Marley has even been introduced to dock diving and loved it, as he loves the water (and fetching toys!) He is house trained, non destructive. He doesn't like the crate, but he can stay free in the house without any problem. He is able to stay alone, but needs active adopters people like him who will understand his need to work and be active This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from 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 6(Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 365 (386, 375, 360, 433) *368 Sold: 197 (176, 203, 215, 243) *206 Sale To Listing Ratio: 54% (46%, 54%, 60%, 56%) *56% Price Changes: 102 (81, 79, 95, 86) *38 Listings that went conditional/pending: 248 (262, 199, 259, 258) *259 Expired/Cancelled/Withdrawn: 44 (59, 34, 44, 46) *50 Total Active Halifax/Dartmouth Inventory: 1,077 (1,010, 1,008, 872, 893) +1,054 Absorption Rate in weeks: 6 (5, 5, 4, 4) *5 Single Family Home Stats Active Single Family Home: 552 (483, 480, 380, 422) *391 Average Single Family Home List Price: $547,974 (%503k,$512k,$530k,$566k) *$448k Average Single Family Home Selling Price: $599,429 ($570k,$576k,$610k,$645k) *$504k Single Family Home Sale to List Ratio This Week: 110% (113%, 113%, 115%, 114%) *113% Median Single Family Home List Price (6 mo): $449,949 ($450k,$450k,$450k,$450k) *$386k Median Single Family Home Sold Price (6 mo):$545,000 ($540k,$541k,$540k,$532k)*$429k Average Days on Market Single Family Home: 10 (9, 7, 8, 12) *12 Condo Stats Active Condos: 93 (91, 93, 78, 72) *90 Average Condo Listing Price: $417,914 ($408k, $380k, $420k, $398k) *$324k Average Condo Selling Price: $450,114 ($442k, $422k, $483k, $452k) *$357k Condo Sale to List Ratio This Week: 108% (108%, 111%, 115%, 114%) *110% Median Condo List Price (6 mo): $389,450 ($390k, $389k, $385k, $380k) *$323k Median Condo Sold Price (6 mo): $446,000 ($448k, $445k, $445k, $435k) *$349k Average Days on Market Condos: 13 (7, 7, 7, 7) *7 Active Vacant Lots: 269 (255, 252, 248, 242) *447 Market Rant Cracks in the veneer continue to spread this week, with all signs pointing to continued market deflation. It's the subtle things, like the slow creep up of days on market before selling, increased price changes in the southern direction, and an absorption rate that continues to elevate (rather quickly at this point). Some of the other, larger data, items like the six month median values will take some time to catch up, but the weekly stats are as close to real time as we are going to get. Sometimes they are just anomalies, an off week, or a small pause, but string enough recent reports together and you can start to pick out the trends. At this point, all indications are pointing to a continued trot to a balanced market, in a rather abrupt fashion as well. Mind you, the market here did take off like a rocket in 2020, so things that go up so quickly are bound to plummet at some point. As previously reported, there continues to be certain price points, areas and product types (water access/views, cottage type, turn-key) that remain in demand and sought after, but even those are seeing less and less buyer activity week to week. At this point we are starting to see more and more properties survive the offer holdover window, and even some that are starting to sell at or very close to asking price. Could we see a return to a balanced market by the end of Summer? Only time will tell, so make sure you stay on top of things by tuning into the blog! Thanks for stopping by! The Weekly "Adogtable" Meet Jackson! Jackson was found in an empty home, he had been alone for many days with no food or water. He was scared and hungry. Breed: Saint Bernard/ possible husky x Age: 2 yrs old Neutered. Up to date on core vaccines and flea and tick protection. Weight: 95 pounds Cats: No he is too excited and would chase Dogs: Yes if sociable. Presently Jackson is fostered with two senior staffies one male and one a female diva. He is very polite, tolerant, and respectful. No resource guarding at all for people, food or toys. Children: Has met his foster 7 yr old grandson and loved him. He loves to have a child throw a ball. Temperament: A slightly fearful dog with strangers for 20 seconds (barks at first contact, especially with men) but then he is very affectionate with everyone. Really loves his belly rubs and snuggles. He is a good guardian, meaning he sounds the alarm if someone is around your property, or at your door. He simply lets out a bark and then stops when asked. Jackson is playful and likes most toys. He especially loves balls. He has a medium energy level then is calm. He is very well trained, is able to stay alone and be calm in the house, and has no bite history. Jackson is tall, so can be a counter surfer if you leave anything out. He learns super fast just with kibble from his own food instead of treats and he walks well on a leash. Jackson was x-rayed because with his breed we knew he could be predisposed to hip dysplasia and it was confirmed he has it. Presently he has zero symptoms or discomfort. He lives well with his condition running and playing like a normal 2 yr old dog. No osteoarthritis is present. Now that his condition is known we keep Jackson on the lean side and give him joint supplements. His foster home has no steep entrance/ exit into the home. He does go up the stairs inside his foster home easily to join the other dogs at bedtime. Otherwise, he enjoys the spacious lower level with heated floors and easy walk access to the yard. There is no reason why Jackson cannot continue to live a carefree, healthy and active life. We do limit exercise to two 30-minute walks a day. He also has a huge fenced-in yard at his foster home to explore with his canine playmates. Jackson presently eats a hypoallergenic diet (Royal Canin) and is doing well on it. He also likes salmon-based food like SMACK! Jackson really is a dream dog to have in our care. He is so eager to please and loving. This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from 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 (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 386 (375, 360, 433, 411) *272 Sold: 176 (203, 215, 243, 211) *183 Sale To Listing Ratio: 46% (54%, 60%, 56%, 51%) *67% Price Changes: 81 (79, 95, 86, 63) *43 Listings that went conditional/pending: 262 (199, 259, 258, 266) *207 Expired/Cancelled/Withdrawn: 59 (34, 44, 46, 61) *50 Total Active Halifax/Dartmouth Inventory: 1,010 (1,008, 872, 893, 793) +978 Absorption Rate in weeks: 5 (5, 4, 4, 4) *4 Single Family Home Stats Active Single Family Home: 483 (480, 380, 422, 332) *352 Average Single Family Home List Price: $502,872 ($512k,$530k,$566k,$501k) *$460k Average Single Family Home Selling Price: $569,603 ($576k,$610k,$645k,$571k) *$515k Single Family Home Sale to List Ratio This Week: 113% (113%, 115%, 114%, 114%) *112% Median Single Family Home List Price (6 mo): $449,900 ($450k,$450k,$450k,$445k) *$385k Median Single Family Home Sold Price (6 mo):$540,155 ($541k,$540k,$532k,525k)*$425k Average Days on Market Single Family Home: 9 (7, 8, 12, 14) *21 Condo Stats Active Condos: 91 (93, 78, 72, 69) *83 Average Condo Listing Price: $407,850 ($380k, $420k, $398k, $515k) *$353k Average Condo Selling Price: $441,545 ($422k, $483k, $452k, $565k) *$385k Condo Sale to List Ratio This Week: 108% (111%, 115%, 114%, 110%) *109% Median Condo List Price (6 mo): $389,450 ($389k, $385k, $380k, $380k) *$320k Median Condo Sold Price (6 mo): $447,450 ($445k, $445k, $435k, $430k) *$345k Average Days on Market Condos: 7 (7, 7, 7, 23) *12 Active Vacant Lots: 255 (252, 248, 242, 244) *428 Market Rant Bit of a stalemate this week, but the good news is that inventory has stabilized, for now. Another good week for new listing additions, but it was also another week for reduced sales, further leading us down the road to a balancing market. Quite a few stalls in other areas of the stats report as well. Not a lot of gain or loss in either direction at this point, even values and overbid amounts took a week off. We may see a few weeks of this levelling effect until, ultimately, the market levels out. The market grew so quickly in such a short period of time, one has to wonder how steep the fall might be when/if things start to normalize again, back to the typical 3-5% annual value gain. Ultimately, it will be very unrealistic to think that prices will return to those of 2019, so anyone who did not have to move prior to then would still likely have good luck with selling, especially if they have to compete with anyone who purchased after that time. Seems to be a few more options to market each week these days, but there are a few areas and products that are still seeing incredible activity and others not so much. Bit of whack-a-mole out there currently to find which ones are highly competitive and the ones that are not. Typically, turn-key and anything with water views/access are still in high demand, but as the market cools, the edges of the HRM boundary seem to be the first to experience the decrease in demand. Summer does tend to be the slowest season, so perhaps the Spring market has already come and gone, leaving an early Summer market. Perhaps it's just a short break, I mean, it has been a high octane fuelled market since 2020, and a cooling, even if temporary, is a welcome change for some. All eyes on the Summer market, and I have you covered! Stay tuned to the blog to keep informed, and thanks for stopping by! The Weekly "Adogtable" Meet Phoebe! Temperament: real sweetheart and obedient. Dog friendly: yes. Cat Friendly: yes. People friendly: yes. Child friendly: yes Loves other dogs, cats, and humans. Needs people at home because she has separation anxiety. When her owners are with her, she's a perfect dog Well trained loves to cuddle or play ball, and she can go for a long walk or be on the couch. She loves human attention so she's also fine as the only dog in the house and just has friends outside the home. She is not reactive, she can bark at strange men at first contact but she's very easy with people. She lives with 3 cats and an 8-year-old child. This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from 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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