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Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 243 (269, 216, 260, 265) *184 Sold: 119 (123, 98, 116, 105) *129 Sale To Listing Ratio: 49% (46%, 45%, 45%, 40%) *83% Price Changes: 132 (141, 92, 135, 143) *79 Conditional Sale: 168 (152, 113, 174, 150) *136 Expired/Cancelled/Withdrawn: 47 (58, 39, 114, 47) *54 Total Active Halifax/Dartmouth Inventory: 1,583 (1,585, 1,521, 1,499, 1,547) *1,322 Absorption Rate in weeks: 14 (14, 14, 13, 15) *12 Single Family Home Stats Active Single Family Home: 834 (834, 792, 768, 808) *671 Average Single Family Home List Price: $567,501 ($548k,$537k,$555k,$561k) *$556k Average Single Family Home Selling Price: $568,956 ($552k,$539k,$561k,$566k) *$548k Single Family Home Sale to List Ratio This Week: 101% (101%,101%, 101%, 103%) *99% Median Single Family Home List Price (6 mo):$524,900 ($525k,$525k,$529k,$529k) *$460k Median Single Family Home Sold Price(6 mo):$536,250 ($537k,$540k,$545k,$583k)*$500k Average Days on Market Single Family Home: 32 (23, 32, 23, 29) *27 Condo Stats Active Condos: 126 (128, 122, 129, 122) *107 Average Condo Listing Price: $443,825 ($530k, $505k, $462k, $481k) *$427k Average Condo Selling Price: $432,741 ($517k, $511k, $460k, $480k) *$421k Condo Sale to List Ratio This Week: 98% (98%, 101%, 99%, 107%) *99% Median Condo List Price (6 mo): $430,000 ($430k, $430k, $430k, $425k) *$390k Median Condo Sold Price (6 mo): $443,700 ($443k, $440k, $440k, $430k) *$401k Average Days on Market Condos: 20 (22, 34, 13, 25) *30 Active Vacant Lots: 431 (428, 426, 423, 436) *415 Market Rant With October almost in the books. it has been a rather interesting month this market year. This is one of the fewer times I have seen October report a higher inventory count at the end of the month than what it opens up with, given that October is usually a descending month. The soaring numbers from the Spring usually start their decent end of May / early June timeframe, then continue into the Fall and bottom out during the Holiday season. As mentioned in previous posts, right now is a bit of a secret time to consider your purchase. Remnant inventory still lingers from the Late Spring / Summer months, and new listings are still entering the market. Prices continue to "improve", so revisiting previously aggressively priced property can be considered as well. Buyer activity tends to slow around this time of year as well, making the competition a bit less, and with more options available, a better chance at locking up a property happens. We're not actually too far off from the report from last year at this time, which is surprising given the year it's been so far. Just when everyone had predicted the market would flatten out after the drastic drop mid 2022, it did anything but that starting in January of this year, causing the need for further deflation tactics, to include higher mortgage rates. Eventually things cooled, but we still find ourselves in Sellers market in most key areas of HRM, although it's a shadow of what it used to be. The big question is if we will see a repeat of last market cycle, where we are lulled into thinking the market would cool for the long term, then blast off in the early months of the new market year, or, will it actually cool off this time and get back to a more recognizable Halifax market. Time will tell, and I have you covered! Be sure to stay tuned to the blog, and stay informed! Thanks for stopping by! The Weekly "Adogtable" 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 Looking to help? With the devastation of the fires and floods, we are still far from a full recovery and many animals and people could use help! I want to provide links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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: 269 (216, 260, 265, 231) *194 Sold: 123 (98, 116, 105, 119) *114 Sale To Listing Ratio: 46% (45%, 45%, 40%, 52%) *59% Price Changes: 141 (92, 135, 143, 103) *106 Conditional Sale: 152 (113, 174, 150, 134) *164 Expired/Cancelled/Withdrawn: 58 (39, 114, 47, 46) *48 Total Active Halifax/Dartmouth Inventory: 1,585 (1,521, 1,499, 1,547, 1,504) *1,313 Absorption Rate in weeks: 14 (14, 13, 15) *12 Single Family Home Stats Active Single Family Home: 834 (792, 768, 808, 776) *678 Average Single Family Home List Price: $548,106 ($537k,$555k,$561k,$506k) *$528k Average Single Family Home Selling Price: $552,433 ($539k,$561k,$566k,$523k) *$523k Single Family Home Sale to List Ratio This Week: 101% (101%, 101%, 103%, 103%) *99% Median Single Family Home List Price (6 mo):$524,900 ($525k,$529k,$529k,$529k) *$460k Median Single Family Home Sold Price(6 mo):$536,500 ($540k,$545k,$583k,$541k)*$501k Average Days on Market Single Family Home: 23 (32, 23, 29, 26) *27 Condo Stats Active Condos: 128 (122, 129, 122, 117) *113 Average Condo Listing Price: $529,639 ($505k, $462k, $481k, $490k) *$470k Average Condo Selling Price: $517,299 ($511k, $460k, $480k, $524k) *$453k Condo Sale to List Ratio This Week: 98% (101%, 99%, 107%, 107%) *96% Median Condo List Price (6 mo): $429,900 ($430k, $430k, $425k, $425k) *$390k Median Condo Sold Price (6 mo): $442,500 ($440k, $440k, $430k, $430k) *$405k Average Days on Market Condos: 22 (34, 13, 25, 27) *33 Active Vacant Lots: 428 (426, 423, 436, 428) *394 Market Rant Much like the weather, the market continues to cool again this week. Definitely a lot more options to choose from it seems, as new listings pushed up the overall inventory count for a second consecutive week in a row. With more options, a greater attention divide happens, spreading out the pool of serious buyers who are actively looking. As the inventory loads up, the padding of listing values is starting to drop in available listings. Where the first, noticeable price point to see options started to show in the $800k+ value bracket, we are now starting to see padding in the $600k+ range. You are even starting to see properties list and sell in the $400k's, something that has been scarce the last few years. You can certainly tell that buyers have adapted to the current market conditions, and where they used to frenzy over a "new" listing as they appeared, there is a more reserved approach to snatching up property these days. Almost like it was before the pandemic market. Buyers are hesitant to pay much over list these days, especially as the price point increases. Even showing instructions are starting to show the softening of the market, where it was a "no offers will be presented until this specific date" sort of thing, now most new listings have reverted back to a "leave offers open for 24, sometimes 48 hour" window. Holding offers actually started in Halifax in 2019, then became the norm all the way up until last year when the market had that small retraction. They returned earlier this year, but the 4th quarter hasn't really needed this tactic, other than the listings that come to market underpriced or in an extremely desirable area. Interested to see how things will end up this year? I have you covered, so be sure to check into the blog and stay informed! Thanks for stopping by! The Weekly "Adogtable" 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 Looking to help? With the devastation of the fires and floods, we are still far from a full recovery and many animals and people could use help! I want to provide links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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: 216 (260, 265, 231, 222) *186 Sold: 98 (116, 105, 119, 111) *115 Sale To Listing Ratio: 45% (45%, 40%, 52%, 50%) *62% Price Changes: 92 (135, 143, 103, 102) *119 Conditional Sale: 113 (174, 150, 134, 135) *124 Expired/Cancelled/Withdrawn: 39 (114, 47, 46, 79) *48 Total Active Halifax/Dartmouth Inventory: 1,521 (1,499, 1,547, 1,504, 1,477) *1,340 Absorption Rate in weeks: 14 (13, 15) *6 Single Family Home Stats Active Single Family Home: 792 (768, 808, 776, 761) *703 Average Single Family Home List Price: $536,828 ($555k,$561k,$506k,$507k) *$606k Average Single Family Home Selling Price: $538,852 ($561k,$566k,$523k,$516k) *$599k Single Family Home Sale to List Ratio This Week: 101% (101%, 103%, 103%, 102%) *99% Median Single Family Home List Price (6 mo):$525,000 ($529k,$529k,$529k,$530k) *$450k Median Single Family Home Sold Price(6 mo):$540.000 ($545k,$583k,$541k,$545k)*$502k Average Days on Market Single Family Home: 32 (23, 29, 26, 24) *31 Condo Stats Active Condos: 122 (129, 122, 117, 115) *110 Average Condo Listing Price: $504,808 ($462k, $481k, $490k, $532k) *$448k Average Condo Selling Price: $511,116 ($460k, $480k, $524k, $530k) *$442k Condo Sale to List Ratio This Week: 101% (99%, 107%, 107%, 99%) *99% Median Condo List Price (6 mo): $429,900 ($430k, $425k, $425k, $425k) *$385k Median Condo Sold Price (6 mo): $440,000 ($440k, $430k, $430k, $430k) *$404k Average Days on Market Condos: 34 (13, 25, 27, 22) *10 Active Vacant Lots: 426 (423, 436, 428) *394 Market Rant Well that was short lived. After seeing reduction in the overall inventory count last week for the first time in several weeks, we are back to pumping up those numbers yet again. Not a bad thing I would say, we are still quite far from a balanced market, especially given the time of year, but this Fall has been the closest to a balanced market as we have seen in the last few years. Bit of a sluggish week for both buyer and seller activity, with both new listing and conditional sales reporting lower than the last few weeks, but as we have seen holidays do tend to have an impact on market activity. Thanksgiving long weekend is definitely one of those weekends that folks have other things at the forefront, other than the sale or purchase of a property. The big question will be how this week coming will report, and if we will see a typical downward trending market as things start to cool, or will things start to heat up again? We should see an activity push from now until the end of November as some try to sell or buy before the holiday season arrives, so expect the numbers to kick up and down over the next few weeks while that happens. Should be an interesting end to the forth quarter, and to a rather challenging market year overall. I have you covered though, so be sure to stay tuned to the blog and stay informed! Thanks for stopping by! The Weekly "Adogtable" 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 Looking to help? With the devastation of the fires and floods, we are still far from a full recovery and many animals and people could use help! I want to provide links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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: 260 (265, 231, 222, 225) *209 Sold: 116 (105, 119, 111, 91) *97 Sale To Listing Ratio: 45% (40%, 52%, 50%, 40%) *46% Price Changes: 135 (143, 103, 102, 80) *132 Listings that went conditional/pending: 174 (150, 134, 135, 124) *131 Expired/Cancelled/Withdrawn: 114 (47, 46, 79, 79) *128 Total Active Halifax/Dartmouth Inventory: 1,499 (1,547, 1,504, 1,477, 1,407) *1,333 Absorption Rate in weeks: 13 (15) *12 Single Family Home Stats Active Single Family Home: 768 (808, 776, 761, 707) *695 Average Single Family Home List Price: $555,436 ($561k,$506k,$507k,$584k) *$508k Average Single Family Home Selling Price: $561,341 ($566k,$523k,$516k,$578k) *$499 Single Family Home Sale to List Ratio This Week: 101% (103%, 103%, 102%, 99%) *98% Median Single Family Home List Price (6 mo):$529,000 ($529k,$529k,$530k,$500k) *$450k Median Single Family Home Sold Price(6 mo):$544,950 ($583k,$541k,$545k,$520k)*$505k Average Days on Market Single Family Home: 23 (29, 26, 24, 50) *27 Condo Stats Active Condos: 129 (122, 117, 115, 110) *108 Average Condo Listing Price: $462,200 ($481k, $490k, $532k, $388k) *$506k Average Condo Selling Price: $460,026 ($480k, $524k, $530k, $390k) *$497k Condo Sale to List Ratio This Week: 99% (107%, 107%, 99%, 100%) *98% Median Condo List Price (6 mo): $429,900 ($425k, $425k, $425k, $415k) *$383k Median Condo Sold Price (6 mo): $440,000 ($430k, $430k, $430k, $415k) *$405k Average Days on Market Condos: 13 (25, 27, 22, 26) *33 Active Vacant Lots: 423 (436, 428, 423, 417) *384 Market Rant Finally! After a rather long stretch of inventory gain, which was uncommon for this time of year, there was a reduction this week! Perhaps the mediocre weekly inventory gains and sluggish sales, coupled with a slight uptick in buyer activity lately have knocked down the available products. The expired listings reported in volume this week, which helped things along for sure, and with the amount of listings that ended under contract it is not surprising that inventory took a nosedive. Now to see if this will be a continued event, or if this week was an anomaly. Values remain strong again this week, with the average property still settling at, or just over asking price. Both tracked products six month averages are still reporting substantially higher than last year at this time, but it was a different market back then, so I can see why. After an unstoppable pandemic market (2020-2022), the question of when things would taper off was at the top of everyones hot topic list. The answer came in Spring of 2022, when inflation cooling tactics and natural market cooling occurred all at once, supercooling an already slowing market. From that point, there was a significant and swift correction in values across the board, bottoming out around this time last year. With the 2023 Spring response, there was another surge in activity, and although it wasn't pandemic market type of surprises, there was a lot of interesting developments, but still a shadow for the former market. Fast forward to now and it's definitely a mixed bag of activity out there. Some prices and areas are reducing in activity and prices, while others continue to surprise. In either case, I have you covered so be sure to stay tuned to the Halifax Real Estate Blog and stay informed! Thanks for stopping by! The Weekly "Adogtable" 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 Looking to help? With the devastation of the fires and floods, we are still far from a full recovery and many animals and people could use help! I want to provide links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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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