Previous weeks numbers in brackets)

*Previous Year's Stats​

Total Market
New/Back to Market Listings: 100 (135, 155, 174, 173) *115
Sold:  94  (92, 96, 107, 119) *94
Sale To Listing Ratio: 94% (68%, 62%, 62%, 69%) *82%
Price Changes: 47 (63, 62, 102, 97) *34
Conditional Sale: 91 (107, 89, 126, 113)  *99
Expired/Cancelled/Withdrawn: 69 (99, 46, 48, 42) *35
Total Active Halifax/Dartmouth Inventory:  1,393 (1,441, 1,526, 1,532, 1,544) *1,172
Absorption Rate in weeks: 14 (14, 14, 13, 13) *12

Single Family Home Stats
Active Single Family Home: 710 (745, 806, 811, 814) *567
Average Single Family Home List Price:  $525,288 ($587k,$603k,$527k,$524k) *$480k
Average Single Family Home Selling Price:  $523,795  ($590k,$601k,$518k,$520k) *$458k
Single Family Home Sale to List Ratio This Week: 99%  (101%, 99%, 98%, 99%) *95%
Median Single Family Home List Price (6 mo):$519,000 ($519k,$520k,$519k,$520k) *$460k
​Median Single Family Home Sold Price(6 mo):$530,000 ($530k,$530k,$530k,$532k)*$475k
Average Days on Market Single Family Home: 35 (32, 33, 25, 33) *27

Condo Stats
Active Condos:  116 (124, 130, 126, 126) *77
Average Condo Listing Price:  $462,591 ($393k, $478k, $478k, $415k) *$370k
Average Condo Selling Price: $459,668 ($384k, $485k, $471k, $416k) *$355k
Condo Sale to List Ratio This Week: 99% (97%, 101%, 99%, 100%)  *96%
Median Condo List Price (6 mo): $424,900 ($430k, $440k, $430k, $430k) *$390k
Median Condo Sold Price (6 mo): $426,000 ($438k, $441k, $439k, $440k) *$397k
Average Days on Market Condos: 28 (33, 32, 88, 27) *33

Active Vacant Lots: 412 (406, 415, 420, 424) *400

Market Rant
Well, it's that time of year again! As we approach the end of the month and 4th quarter, activity across the board takes a bit of a rest. With holidays right around the corner, most folks tend to take a break from the property buying or selling venture and get other shopping done, or simply take some time off. Seasonally, it is the slowest time of year, and usually reports the lowest inventory of the year...usually. Since we continued to pad the inventory stats as the year went on, the lowest inventory report of the year was actually the beginning of the year, but that is due to the correcting market. Speaking of inventory, it did conclude the year with just over 200 more properties for sale than last year at this time, and almost double from two short years ago. Activity does appear very similar to this time last year, expect for the value spread, inventory count, and listings coming off the market, but similar in many other respects. The question at this point is where do we go from here?

If the late Winter / first quarter market of 2024 is anything like 2023, we could be in for another wild ride! This year started out with a bang and held that momentum will into the Summer months, only to fizzle out in the third quarter to where we are now. The interest rate hikes this year surely helped things cool, but with rates on hold for the time being and values finally levelling out, there is renewed optimism that the market will be more inviting to Buyers in 2024. Only time will tell, but I have you covered! Make sure you check into the blog in the new year and stay informed with all things Halifax Real Estate! Thanks for stopping by, Merry Christmas and Happy New Year! 

Happy Holidays!
​I just wanted to wish all my clients (past, present and future), friends, family and readers of the blog a very Merry Christmas and Happy New Year! The weekly market rant is signing off for the rest of the year, and will return in 2024 with the 2023 market year summary! Be sure to stop by, you will not want to miss it! ​

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: 135 (155, 174, 173, 204) *145
Sold:  92  (96, 107, 119, 119) *108
Sale To Listing Ratio: 68% (62%, 62%, 69%, 58%) *75%
Price Changes: 63 (62, 102, 97, 103) *49
Conditional Sale: 107 (89, 126, 113, 120)  *116
Expired/Cancelled/Withdrawn: 99 (46, 48, 42, 71) *120
Total Active Halifax/Dartmouth Inventory:  1,441 (1,526, 1,532, 1,544, 1,536) *1,202
Absorption Rate in weeks: 14 (14, 13, 13, 13) *12

Single Family Home Stats
Active Single Family Home: 745 (806, 811, 814, 813) *588
Average Single Family Home List Price:  $587,316 ($603k,$527k,$524k,$574k) *$501k
Average Single Family Home Selling Price:  $589,894  ($601k,$518k,$520k,$570k) *$492k
Single Family Home Sale to List Ratio This Week: 101%  (99%, 98%, 99%, 99%) *98%
Median Single Family Home List Price (6 mo):$519,000 ($520k,$519k,$520k,$520k) *$460k
​Median Single Family Home Sold Price(6 mo):$530,000 ($530k,$530k,$532k,$535k)*$475k
Average Days on Market Single Family Home: 32 (33, 25, 33, 31) *28

Condo Stats
Active Condos:  124 (130, 126, 126, 127) *84
Average Condo Listing Price:  $392,800 ($478k, $478k, $415k, $348k) *$375k
Average Condo Selling Price: $383,800 ($485k, $471k, $416k, $345k) *$369k
Condo Sale to List Ratio This Week: 97% (101%, 99%, 100%, 99%)  *99%
Median Condo List Price (6 mo): $429,450 ($440k, $430k, $430k, $430k) *$400k
Median Condo Sold Price (6 mo): $437,950 ($441k, $439k, $440k, $440k) *$395k
Average Days on Market Condos: 33 (32, 88, 27, 38) *27

Active Vacant Lots: 406 (415, 420, 424, 416) *400

Market Rant
Not a huge addition of inventory from last year at this time, but an over 200 product add is nothing to take lightly either. Even with the measures to curb inflation, a fading market, and soaring prices, Halifax remained rather resilient this year and so far the landing has been rather soft. Prices continue to level out around the city, not just soften, but markers are finally being set to gauge product value. The first sector of inventory to feel the market change was the $800k+ range, which is now slowly clawing back prices to obtain buyer interest. This trend should fold into the new year as well, with buyers hoping that lower priced products will see the same shift as their higher valued counterparts. Anything can happen however! Just as we were lulled into thinking the end of last year was the end of the Sellers market, The late Winter / early Spring market had other plans. Could we see a repeat of last year, or will things continue to balance out? With mortgage rates holding fast for now, it seems a lot of folks are on the fence of wether to engage the market or not. If there is an actual reduction in rates, it could be the spark to encourage buyers back to market. Too early to guess on what will happen in the new year, but if I had to take a run at it, we will see a similar surge in the first quarter, but the activity will not be as meaningful as the year prior. Time will tell, and only a few more weeks left of the market year, so be sure to check in and stay informed! Thanks for stopping by! 

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