(Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 156 (241, 178, 182, 223) *312 Sold: 151 (163, 154, 164, 186) *242 Sale To Listing Ratio: 97% (87%, 87%, 90%, 83%) *78% Price Changes: 30 (39, 45, 43, 56) *74 Listings that went conditional/pending: 176 (215, 192, 196, 223) *256 Expired/Cancelled/Withdrawn: 38 (42, 50, 60, 48) *44 Total Active Halifax/Dartmouth Inventory: 954 (983, 1,003, 1,035, 1,099) +1,649 Absorption Rate in weeks: 6 (5, 6, 6, 6) *7 Single Family Home Stats Active Single Family Home: 327 (347, 355, 401, 424) *783 Average Single Family Home List Price: $479,329 ($455k,$408k,$484k,$424k) *$387k Average Single Family Home Selling Price: $507,494 ($491k,$437k,$514k,$459k) *$391k Single Family Home Sale to List Ratio This Week: 106% (108%,107%,106%,108%) *101% Median Single Family Home List Price (6 mo): $387,400 ($380k,$380k,$380k,$380k) $342k Median Single Family Home Sold Price (6 mo):$435,000 ($435k,$432k,$430k,$430k)*$350k Average Days on Market Single Family Home: 20 (18, 34, 15, 19) *38 Condo Stats Active Condos: 58 (68, 73, 67, 71) *151 Average Condo Listing Price: $417,379 ($412k, $400k, $380k, $342k) *$303k Average Condo Selling Price: $433,302 ($435k, $422k, $394k, $370k) *$302k Condo Sale to List Ratio This Week: 104% (105%, 105%, 104%, 108%) *99% Median Condo List Price (6 mo): $320,000 ($320k, $319k, $319k, $320k) *$269k Median Condo Sold Price (6 mo): $342,000 ($340k, $340k, $340k, $341k) *$270k Average Days on Market Condos: 32 (10, 55, 24, 9) *56 Active Vacant Lots: 423 (430, 439, 438, 474) *560 Market Rant Dropping like flies! The already decimated inventory continues its southern decent this week with no real sign of improvement likely coming this year, so it seems to be slim pickings until next Spring. That is the hope anyways! Seems as though usual annual trend hides in the shadows, but still lurking, while the spotlight still beams on the Sellers market and current buyer activity. Definitely a shortage of new listings being added to the market each week which is compounding the issue, so the ones that do are seeing a concentration of buyer effort. May seem slower than last year looking at the conditional sale stat, but with only half the selection of products to choose from, it makes sense that it would be lower based on availability alone. As signs point to a slight softening in the market, this lack of ability could cause a dam for buyers, and as they collect we could see the sellers market worsen, reversing the improvements made in the opposite direction. The absorption rate still remains incredible low, and indicates just how bad things could get if it plummets any further. As of now, it would take a short 1.5 months to sell off everything that is currently listed on the market, if new listings stopped all together. We are definitely teetering on the edge of a critical housing shortage, and have been since last year really. The drastic rise in prices and small amount of market softening have been the only lifelines tossed at the Halifax market really, but we are certainly walking a tightrope. Looking for improvement, so stay tuned to the blog to see if it's in the cards for 2021. Thanks for stopping by, and stay safe out there! The Weekly "Adogtable"my name is Chance. I am an 8-year-old male German Shepard, Collie mix guy, weighing in around 65 lbs. My human passed away about a year ago, and I could no longer stay with the family that took me in, so I’m now looking for a new furever home. Could that be you? My foster parents tell me and everyone who will listen, how smart I am. They discovered that I already know a few commands such as sit, paw, leave it, come, and no. I’m pretty sure I can learn more if you are willing to teach me. And as you can tell from my photos, I’m also very handsome. Great combination! I am housebroken and I don’t like to brag, but I have not had any accidents while with my foster family. Don’t let my age fool you, I have lots of energy. I love to go out for walks, my foster family takes me on 3-4 walks per day and I walk really well with my harness and leash. I would love to have a fenced yard so I could be outside more and enjoy the great outdoors. I will hang out with you while you are working in the yard, noises such as lawn movers, leaf blowers, etc. don’t bother me at all. I love my humans (and pretty much all humans I meet) and want to be around them as much as possible. I will sit on the couch with you, lay down on the floor near you while you are cooking, working, or watching TV. I have great table manners; I do not beg for food and will just hang out near the table while you eat. I have not stolen anything off the counter in my foster home, even though I can reach. I sometimes forget that I’m not a lap dog, because I really want to be! I will lay my head and front paws on your lap while you sit on the couch, but after a few minutes I will move over to my own spot. I’ve been great with all the adults, kids, and teens that I have met so far, I do love to lick to say ‘hello’ and sometimes forget my size and will bump the littler ones a bit. I want to meet almost all the dogs I see on my walks in the neighborhood, big or small. I had a doggy playdate recently and I did well but I’m not sure how to play with four-legged friends yet, so my foster mom is helping me to be better at socializing and learning to play well with others. I can be a little too overwhelming for some doggies. I’ve seen lots of birds, cats, squirrels on my daily walks; but I’m not super interested in them. I might watch them for a minute, then I get bored and keep walking. I will bark once or twice to let you know that someone is at the door, but then happy to go greet them with you and be welcoming. I don’t love being left alone at home yet, I’m a little afraid that if you leave, you won’t come back. My foster parents are teaching me that you can leave for a bit, then come back to see me but that may take awhile so someone home more often than not would be best for me. I don’t use a crate and I’m not a chewer but be ready for me to be super excited to see you when you do come home. I used to get too excited and jump up on my humans, but I’m learning that not everyone likes that type of greeting, so licks and tail wags are my new thing. I love to be told when I’m being a good boy and given a little scratch or attention, and I really like being rewarded with treats too. I still get a bit excited in the car, I’m happy to be going anywhere with you (even to the vet 😊), and love sticking my head out the window while you are driving. A seatbelt would be ideal so I don’t bounce all over the place. My foster home has lots of stairs and I’m not comfortable going up or down the stairs inside the house yet. I am great on outdoor stairs; they are a little deeper than the indoor ones. This means that I sleep on the main floor at night and can’t snuggle with my humans, which I would prefer. So, I sleep on the couch, the rug, or at the bottom of the staircase. If I lived with you, I might like my own spot in your bedroom though so that I’m close by or better yet on your bed with you. I like my stuffed hippo and sometimes use her for a pillow, just carry her around with me, or ask you to play with us. I do prefer wet food (like most dogs) but that isn't ideal for my teeth so if you mix a little wet food in with my kibble, I will gobble it up but if you give me just kibble, I will graze and eat here and there. My foster mom has been giving me a dental bone/treat everyday to keep my teeth healthy and breath smelling fresh. I’ve dealt with a lot of changes over the past year or so and need someone to be patient with me while I settle into my new furever home. When I first got to my foster home, I would try to hump my foster mom all the time. This lasted about 2 days then I stopped. So another new situation may bring that out again however if you’re consistent with corrections, it won't take long for me to realize who's the boss and stop. If you are willing to take a chance on me, you won’t regret it. I am the bestest boy who just needs love and a place to call home to live out my golden years!! My adoption fee is a donation to the rescue to help save more dogs like me. I am neutered, vaccinated, microchipped, come with a 6 week trial of pet insurance from PetSecure and have all my doggy papers to come home to you! You can apply for me at https://form.jotform.com/60895241776264. This "cuddly companion" is available through Save a Life Canada Animal Rescue Society, 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: 241 (178, 182, 223, 229) *313 Sold: 163 (154, 164, 186, 195) *225 Sale To Listing Ratio: 87% (87%, 90%, 83%, 85%) *72% Price Changes: 39 (45, 43, 56, 55) *86 Listings that went conditional/pending: 215 (192, 196, 223, 201) *283 Expired/Cancelled/Withdrawn: 42 (50, 60, 48, 41) *59 Total Active Halifax/Dartmouth Inventory: 983 (1,003, 1,035, 1,099, 1,115) +1,632 Absorption Rate in weeks: 5 (6, 6, 6, 6) *7 Single Family Home Stats Active Single Family Home: 347 (355, 401, 424, 433) *798 Average Single Family Home List Price: $454,809 ($408k,$484k,$424k,$531k) *$427k Average Single Family Home Selling Price: $491,252 ($437k,$514k,$459k,$548k) *$431k Single Family Home Sale to List Ratio This Week: 108% (107%,106%,108%,103%) *102% Median Single Family Home List Price (6 mo): $380,000 ($380k,$380k,$380k,$380k) $340k Median Single Family Home Sold Price (6 mo):$435,000 ($432k,$430k,$430k,$434k)*$350k Average Days on Market Single Family Home: 18 (34, 15, 19, 22) *28 Condo Stats Active Condos: 68 (73, 67, 71, 78) *162 Average Condo Listing Price: $411,926 ($400k, $380k, $342k, $377k*$341k Average Condo Selling Price: $434,805 ($422k, $394k, $370k, $391k) *$332k Condo Sale to List Ratio This Week: 105% (105%, 104%, 108%, 104%) *97% Median Condo List Price (6 mo): $319,900 ($319k, $319k, $320k, $320k) *$269k Median Condo Sold Price (6 mo): $340,100 ($340k, $340k, $341k, $344k) *$269k Average Days on Market Condos: 10 (55, 24, 9, 28) *60 Active Vacant Lots: 430 (439, 438, 474, 470) *525 Market Rant It was bound to happen, and we have been headed to the basement for a couple years, but this week marks a new low in the already decimated inventory levels. A mere 983 products are currently listed active for sale at the moment, and that's in all categories/prices/areas etc. Rewind a few short years to 2019 where there was almost 3k available at this time, almost 4k in 2018, and take it back to 2015 where there was 5,668 properties for sale this week! We have come a very long way in such a short time. The gap was starting to close between last years inventory and this years, but October seems to have its own plans in this department, with renewed buyer interest looking to capitalize on the supposedly sleepy time of year. Could be a final push to get into something before the holiday season and the snow hits the ground, or it could just be a few products hitting the market have drawn buyers back to it. The newly dubbed "micro" sellers market as I named it a few weeks back carries on, and gains momentum, this is due to fewer products being available. Where more listings started to flow to market a few weeks ago, buyers attention was divided amongst the selection. Now, with the extremely lacking selection, buyers are laser focussed on the very few options as the trickle to market each week, keeping the extreme sellers market foothold in place. Going to be one for the record books, so stay tuned to the blog to see what the final tally will be for 2021! Thanks for stopping by, and stay safe out there! The Weekly "Adogtable"Taz is a busy puppy that is learning all the rules of the world as he experiences socialization with a great group of dogs in his foster home. Taz walks decent on a leash, is almost fully house trained, and knows most basic commands. Taz does have separation anxiety, and resource guards some things, so this will need to be worked on. Taz loves people, but would be recommended in a home with older children due to his resource guarding. Taz has never been around cats. 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: 178 (182, 223, 229, 186) *295 Sold: 154 (164, 186, 195, 146) *238 Sale To Listing Ratio: 87% (90%, 83%, 85%, 79%) *81% Price Changes: 45 (43, 56, 55, 56) *117 Listings that went conditional/pending: 192 (196, 223, 201, 184) *228 Expired/Cancelled/Withdrawn: 50 (60, 48, 41, 48) *92 Total Active Halifax/Dartmouth Inventory: 1,003 (1,035, 1,099, 1,115, 1,116) +1,683 Absorption Rate in weeks: 6 (6, 6, 6, 5) *7 Single Family Home Stats Active Single Family Home: 355 (401, 424, 433, 434) *807 Average Single Family Home List Price: $408,147 ($484k,$424k,$531k,$447k) *$387k Average Single Family Home Selling Price: $436,658 ($514k,$459k,$548k,$472k) *$396k Single Family Home Sale to List Ratio This Week: 107% (106%,108%,103%,106%) *102% Median Single Family Home List Price (6 mo): $379,900 ($380k,$380k,$380k,$380k) $340k Median Single Family Home Sold Price (6 mo):$431,667 ($430k,$430k,$434k,$434k)*$345k Average Days on Market Single Family Home: 34 (15, 19, 22, 16) *29 Condo Stats Active Condos: 73 (67, 71, 78, 84) *159 Average Condo Listing Price: $400,437 ($380k, $342k, $377k, $352k) *$283k Average Condo Selling Price: $421,856 ($394k, $370k, $391k, $357k) *$284k Condo Sale to List Ratio This Week: 105% (104%, 108%, 104%, 101%) *101% Median Condo List Price (6 mo): $318,800 ($319k, $320k, $320k, $320k) *$260k Median Condo Sold Price (6 mo): $339,900 ($340k, $341k, $344k, $344k) *$260k Average Days on Market Condos: 55 (24, 9, 28, 8) *13 Active Vacant Lots: 439 (438, 474, 470, 471) *562 Market Rant Fairly average week on the market, with very few changes to the overall environment. Total inventory slid again this week, narrowing the the gap from last year to this year yet again. You could go out on a limb and say that annual trend has finally corrected itself and is influencing the weekly report, and I would agree. There's no question that things are slowing down, but underneath the surface of the calming waters remains a swirling churn of activity for many areas of HRM. I have talked about the lessoning number of offers being sent on some listings, and also to the dollar amount over asking starting to shrink, and this continues to happen more frequently as the year starts to conclude. Showings are starting to slow, and some listings that have priced to current overbid market are receiving cold shoulders from the current buyer group. As we press on into the Fall, there does seem to be a bump in activity, so it will be interesting to see how these stats shape up to the Summer months, and which will have the winning report. If I could guess, I would say Fall is performing better. Once September hit there was a wake up in the market, which again, falls in line with annual trend but it could be temporary. It would be good news to see the market starting to flow in its usual way, I think many that have experienced the market, or currently looking forward to seeing a return to normalcy. A return to gauging a realistic expectation, instead of boldly guessing property value. For some Nova Scotian's, it seems big city real estate market tactics have worn out their lustre, as affordability and availability push many locals out of the current market options. Will we continue to settle back into our old ways, or will a new market emerge with new trends? Stay tuned to the blog to find out! Thanks for stopping by, and stay safe out there! The Weekly "Adogtable"Hi everyone! My name is Chandler and I am a 4 year old, border collie mix boy weighing around 45lbs. I came from Texas several months ago, I thought I had found my forever home but turns out I wasn't quite home yet. I'm a little shy and it takes me a little more time to trust people, but once I warm up I love a good scratch, especially on my ears or under my chin, and I also love a good cuddle, particularly first thing in the morning! I enjoy the company of other dogs, but prefer to watch rather than play. I'm unsure of kids, I tend to scare easily, so I would do best in a kid-free home. As far as cats go, I haven't been around any, so I'm not sure about them yet. I walk really well on my leash, but it's really important that I'm always on a double leash because I am able to back out of my harness when I get scared. I can sit and come when called, but I will need some patience and training when it comes to body handling and confidence building; I tend to get nervous if I feel trapped or cornered and when walking through doorways. I'm not a big fan of toys right now, but I may learn to enjoy them over time. Car rides on the other hand, I'm definitely a fan of those! I'll just curl up and have a nap on route to our next big adventure together! At home, if there is someone around, I like to follow them around the house. If I'm alone I won't be destructive but I think I'd like someone home more than not. I am happy to say I am housetrained as well! I know I have a few things to work on, but I promise that your patience will be rewarded! So, if you're looking for a sweet and smart pup to join your family, I'm ready to go to my forever home with you! Do you think we'd be a good match? My adoption fee is a $400 donation to the rescue to help save more dogs like me. I am neutered, vaccinated, microchipped, come with a 6-week trial of pet insurance from PetSecure and have all my doggy papers to come home to you! You can apply for me at https://form.jotform.com/60895241776264 This "cuddly companion" is available through Save a Life Canada Animal Rescue Society, 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 |
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
Archives
August 2024
Categories
All
|