Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 140 (168, 180, 177) *155 Sold: 100 (92, 85, 76) *96 Sale To Listing Ratio: 71% (55%, 47%, 43%) *62% Price Changes: 35 (38, 35, 53) *39 Conditional Sale: 90 (124, 132, 106) *129 Expired/Cancelled/Withdrawn: 68 (74, 42, 45) *52 Total Active Halifax/Dartmouth Inventory: 1,257 (1,237, 1,273, 1,272) *974 Absorption Rate: 14 () *13 Single Family Home Stats Active Single Family Home: 624 (630, 652, 652) *462 Average Single Family Home List Price: $576,225 ($606k, $638k, $634k) *$614k Average Single Family Home Selling Price: $576,745 ($599k, $628k, $623k) *$609k Single Family Home Sale to List Ratio This Week: 101% (99%, 98%, 98%) *99% Median Single Family Home List Price (6 mo):$499,900 ($500k, $500k, $500k) *$465k Median Single Family Home Sold Price(6 mo):$518,000 ($517k, $513k, $515k)*$465k Average Days on Market Single Family Home: 40 (54, 45, 55) *35 Condo Stats Active Condos: 106 (101, 106, 97) *66 Average Condo Listing Price: $554,180 ($454k, $556k, $431k) *$536k Average Condo Selling Price: $558,520 ($459k, $540k, $422k) *$531k Condo Sale to List Ratio This Week: 101% (101%, 97%, 98%) *99% Median Condo List Price (6 mo): $429,900 ($430k, $434k, $425k) *$396k Median Condo Sold Price (6 mo): $423,500 ($424k, $426k, $422k) *$393k Average Days on Market Condos: 40 (59, 35, 49) *38 Active Vacant Lots: 385 (368, 373, 412) *335 Market Rant The numbers may be a little lacking this week, thanks to a big ol' snow storm over the weekend, but the market doesn't rest! The city basically came to a stand still over the weekend, so the market would have followed suit for those few days. Despite the storm, it was shaping up to be a rather busy week! Another healthy addition to the inventory happened, and more sales from the week before. Buyer activity was down significantly this week, but that can be expected due to the extreme weather conditions. Still decent though, especially for erasing three days from the market week. Single Family Home weekly listing and selling values finally hit under the $600k threshold this week with the help of an injection of that first time home buyer products hitting the market. Prices overall continue to stabilize as well, as most products are selling quite close to asking price these days, with the exception of certain price points and property condition. The adjustment continues, and I anticipate this trend to continue into the Spring. WIth the competitive nature of the Spring market (both Buyer and Seller), the speculation is that there should be more options this year for Buyers, which I'm sure is welcomed news for buyers entering the market. WIth the announcement that mortgage rates are holding fast, and that the foreign Buyer ban will be extended to 2027, the current market should hold its predictability for the time being. Once these factors change however, it is anyones guess how the impact of one or both of these will affect things locally. Time will tell though, 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? Below you will find 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: 168 (180, 177) *143 Sold: 92 (85, 76) *78 Sale To Listing Ratio: 55% (47%, 43%) *55% Price Changes: 38 (35, 53) *50 Conditional Sale: 124 (132, 106) *118 Expired/Cancelled/Withdrawn: 74 (42, 45) *81 Total Active Halifax/Dartmouth Inventory: 1,237 (1,273, 1,272) *984 Single Family Home Stats Active Single Family Home: 630 (652, 652) *462 Average Single Family Home List Price: $606,035 ($638k, $634k) *$538k Average Single Family Home Selling Price: $598,526 ($628k, $623k) *$522k Single Family Home Sale to List Ratio This Week: 99% (98%, 98%) *97% Median Single Family Home List Price (6 mo):$499,900 ($500k, $500k) *$463k Median Single Family Home Sold Price(6 mo):$516,500 ($513k, $515k)*$460k Average Days on Market Single Family Home: 54 (45, 55) *31 Condo Stats Active Condos: 101 (106, 97) *67 Average Condo Listing Price: $453,912 ($556k, $431k) *$524k Average Condo Selling Price: $458,475 ($540k, $422k) *$515k Condo Sale to List Ratio This Week: 101% (97%, 98%) *98% Median Condo List Price (6 mo): $429,900 ($434k, $425k) *$399k Median Condo Sold Price (6 mo): $423,500 ($426k, $422k) *$391k Average Days on Market Condos: 59 (35, 49) *55 Active Vacant Lots: 368 (373, 412) *335 Market Rant You wouldn't know it by looking at the current inventory, but it's a bit of a hot start to the market this year so far! As mentioned last week, January does tend to create a bubble market for the beginning of the season, and it appears this year is no exception. For the last couple of years, this blip has lasted to the Spring, but usually, this trend tends to fizzle out at by mid February. Speaking of, can you believe January is already in the books? With a mild start to the season, Buyers have found a more comfortable environment to conduct showings in. Believe it or not, how cold things get here can have a direct impact on listing reception to the market, especially heavy snowfall forecasts. So far though, the weather has been hospitable enough to encourage Buyers to come out and it shows. Listings under agreement had a strong report despite the snowfall this week, and so too did the number of properties that hit the market. The market forecast is much like the weather, a mixed bag and a lot of possibilities. I have you covered though, so stay tuned to the blog to stay informed and stay on top of the developing market! 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? Below you will find 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: 180 (177) *143 Sold: 85 (76) *64 Sale To Listing Ratio: 47% (43%) *45% Price Changes: 35 (53) *37 Conditional Sale: 132 (106) *85 Expired/Cancelled/Withdrawn: 42 (45) *46 Total Active Halifax/Dartmouth Inventory: 1,273 (1,272) *1,015 Single Family Home Stats Active Single Family Home: 652 (652) *472 Average Single Family Home List Price: $638,319 ($634k) *$549k Average Single Family Home Selling Price: $627,544 ($623k) *$537k Single Family Home Sale to List Ratio This Week: 98% (98%) *98% Median Single Family Home List Price (6 mo):$499,900 ($500k) *$468k Median Single Family Home Sold Price(6 mo):$512,800 ($515k)*$465k Average Days on Market Single Family Home: 45 (55) *52 Condo Stats Active Condos: 106 (97) *66 Average Condo Listing Price: $555,809 ($431k) *$387k Average Condo Selling Price: $539,772 ($422k) *$389k Condo Sale to List Ratio This Week: 97% (98%) *101% Median Condo List Price (6 mo): $433,875 ($425k) *$395k Median Condo Sold Price (6 mo): $426,000 ($422k) *$390k Average Days on Market Condos: 35 (49) *15 Active Vacant Lots: 373 (412) *374 Market Rant Another solid week, as we kick off 2024 with a bang! New listings continue to pour to the market, and they are met with elevated Buyer interest. As mentioned last week, January tends to have this micro Sellers market blip thanks to low inventory levels and increased Buyer activity. This year is no different so far, and the numbers reflect that. Average selling prices remain unusually elevated again this week, with median prices being a bit more reflective of the true nature of the market. Quite the value increase from last year at this time, which is a little surprising given that Halifax was supposed to see a significant value correction in 2023. Speculation is that values will continue to level out until parity is met in all products, across all price points. This process, of course, will take some time, so we should see this as a continual effort throughout 2024. It was announced yesterday that mortgage rates will remain where they are for the time being, but the expectation is that we may see a reduction once inflation has hit a target percentage rate. When and if that does happen, expect a surge in buyer activity as homes become more affordable, not only in price, but in mortgage cost. Off to a good start, so stay tuned to the blog to stay on top of the changing market. 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? Below you will find 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: 177 () *129 Sold: 76 () *60 Sale To Listing Ratio: 43% () *47% Price Changes: 53 () *42 Conditional Sale: 106 () *114 Expired/Cancelled/Withdrawn: 45 () *42 Total Active Halifax/Dartmouth Inventory: 1,272 (1,393) *1,016 Single Family Home Stats Active Single Family Home: 652 () *462 Average Single Family Home List Price: $634,070 () *$579k Average Single Family Home Selling Price: $623,403 () *$555 Single Family Home Sale to List Ratio This Week: 98% () *96% Median Single Family Home List Price (6 mo):$499,900 () *$460k Median Single Family Home Sold Price(6 mo):$515,000 ()*$460k Average Days on Market Single Family Home: 55 () *44 Condo Stats Active Condos: 97 () *67 Average Condo Listing Price: $430,630 () *$555k Average Condo Selling Price: $421,600 () *$451k Condo Sale to List Ratio This Week: 98% () *81% Median Condo List Price (6 mo): $424,900 () *$396k Median Condo Sold Price (6 mo): $421,500 () *$390k Average Days on Market Condos: 49 () *39 Active Vacant Lots: 412 () *274 Market Rant Coming out of the gate swinging! Big push of new listings to market this week, met with a hardy group buyers, who seem ready to deal! This is the usual trend post holiday season however, with the exception of the amount of new listings in a week. Perhaps there is a buzz in the air regarding the market, and Sellers are not going to pass up their chance to miss out on premium listing prices. Speaking of values, it might not be the greatest news for Sellers this week, as there was a significant drop in both tracked products six month median listing and selling prices over the holiday break. The six month data is more reflective of the trending market, especially since there is way more data to pull from, and the weekly stats can get a little skewed with a few exceptional sales for instance. Overall however, the numbers are pointing to a continued value correction, which as mentioned in the 2023 annual summary below, the anticipation is that this will continue to adjust as the year presses on. We kick off the year with the highest amount of inventory since 2020, which is also expected to grow as the months wear on. The question at this point is just how much inventory will climb this year, and how will the climbing numbers directly impact listing/selling prices. With values correcting, and the first wave of three year mortgage renewals since the pandemic approaching, the pendulum may swing rather quickly if given the right conditions. Stay tuned to the blog to stay on top of our teetering market 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 Happy New Year!Ready for the 2024 market? Let's have a look back at how the 2023 market performed, and how it may influence the market this year! Inventory was the talk of the city by the end of 2021, as we witnessed record lows and a red hot sellers market that had no signs of slowing at that point. Critical lows left home buyers wondering what the market would look like if these trends carried on, but fortunately, they did not have to endure further obstacles. Inventory slowly stared its recovery in the Spring of 22, continuing all through 2023 and landing us with a product count higher than the end of the first year of the pandemic. As you can see from the above chart, even before the pandemic market, Halifax was already in a balanced market in most areas, and even a Sellers market in some areas of the city by the end of 2019. The spread between mid 2018 and 2023 is almost 3,000 units, which is a big chunk to shed in that short amount of time. I dare say that the amount of inventory that dropped during that 5 year span is the most drastic Halifax has even seen. 2023 ended up being an inventory recovery year, and the anticipation is that this will continue into 2024 barring any sort of event. Residential selling prices had a slow correction year, and despite starting at values below 2022, the ebb and flow of the transactions ended the year with selling prices being the highest Halifax has ever seen at the end of a year. Of course, overall peak selling prices happened in the Spring of 2022, but after some varying correction, 2023 did provide a bit more stabilized pricing overall. As the product surplus continues to grow, prices should continue to correct, so these values will be something to watch out for in 2024 with the expectation of a downward trend. Possibly the most impactful chart, sales slumped across HRM in 2023, reporting lower in almost every month since before 2018. Soaring interest rates and peak pricing cooled the market quickly, and while interest in buying was still there, many took a step back to watch the dust settle. This gave the inventory a chance to catch up and pad some of the numbers around the city, and listing/selling prices that had not been seen in a couple years (sub $450k) started to show up, inviting a group of buyers back to market that had been priced out. The projections are that this trend will continue as inventory increases and values reduce, but may see localized surges on news of interest rate reductions. So it's good news for buyers heading into 2024! Inventory is on the rise, prices are on the way down, and there appears to be less competition our there for now. Lifting the foreign Buyer ban, and a few mortgage rate drops may change this however, but the long term forecast is a return the the steady Eddie market that Halifax is used to. Anything is possible however, so be sure to stay on top of things by tuning into the blog! Thanks for stopping by! 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: 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! 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: 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! 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: 155 (174, 173, 204, 209) *147 Sold: 96 (107, 119, 119, 117) *96 Sale To Listing Ratio: 62% (62%, 69%, 58%, 56%) *65% Price Changes: 62 (102, 97, 103, 116) *69 Conditional Sale: 89 (126, 113, 120, 135) *113 Expired/Cancelled/Withdrawn: 46 (48, 42, 71, 140) *123 Total Active Halifax/Dartmouth Inventory: 1,526 (1,532, 1,544, 1,536, 1,525) *1,207 Absorption Rate in weeks: 14 (13, 13, 13, 13) *12 Single Family Home Stats Active Single Family Home: 806 (811, 814, 813, 809) *596 Average Single Family Home List Price: $603,125 ($527k,$524k,$574k,$544k) *$473k Average Single Family Home Selling Price: $601,117 ($518k,$520k,$570k,$545k) *$471k Single Family Home Sale to List Ratio This Week: 99% (98%, 99%, 99%, 100%) *99% Median Single Family Home List Price (6 mo):$519,900 ($519k,$520k,$520k,$520k) *$460k Median Single Family Home Sold Price(6 mo):$530,000 ($530k,$532k,$535k,$535k)*$477k Average Days on Market Single Family Home: 33 (25, 33, 31, 27) *38 Condo Stats Active Condos: 130 (126, 126, 127, 124) *84 Average Condo Listing Price: $477,933 ($478k, $415k, $348k, $493k) *$368k Average Condo Selling Price: $484,837 ($471k, $416k, $345k, $492k) *$361k Condo Sale to List Ratio This Week: 101% (99%, 100%, 99%, 99%) *98% Median Condo List Price (6 mo): $439,700 ($430k, $430k, $430k, $430k) *$395k Median Condo Sold Price (6 mo): $442,750 ($439k, $440k, $440k) *$390k Average Days on Market Condos: 32 (88, 27, 38, 31) *11 Active Vacant Lots: 415 (420, 424, 416, 407) *394 Market Rant The end of the year wind down is on! Few skips along the way, a last minute rush, and an inventory count that has been rather resilient right up until the end of the 4th quarter. With December on the horizon, expect the stats to continue their decent until the end of the month, which should see the lowest report of the year...should. With the way the last few years have tracked, it's anyones guess on how December will report, but it usually bottoms out at the end of the year, then kicks it up a notch as soon as the new year breaks. There are a lot of similarities from last years market at this time and now, but the the one stat that has not balanced yet are product values. I wouldn't bet on them meeting anytime soon, but the spread from last year this time time to now is definitely much closer than the last couple of years. The expectation is that values will continue to plateau and inventory to rise, creating a balanced market in most areas of HRM. That being said, that was the projection at this time last year as well, only for January to kick off with a bang and carry on with another solid Sellers market in many areas of the city. Perhaps it's the final throws of the pandemic market, but the reality is that we are now in a post-pandemic market, on track to get back to a pre-pandemic Halifax market, activity wise anyways (not values). Only time will tell, but the yearly summary should be another interesting one this year, so be sure to stay tuned to the blog as we finish up the remainder if the market year! 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: 174 (173, 204, 209, 243) *192 Sold: 107 (119, 119, 117, 119) *98 Sale To Listing Ratio: 62% (69%, 58%, 56%, 49%) *51% Price Changes: 102 (97, 103, 116, 132) *70 Conditional Sale: 126 (113, 120, 135, 168) *143 Expired/Cancelled/Withdrawn: 48 (42, 71, 140, 47) *49 Total Active Halifax/Dartmouth Inventory: 1,532 (1,544, 1,536, 1,525) *1,285 Absorption Rate in weeks: 13 (13, 13, 13, 14) *13 Single Family Home Stats Active Single Family Home: 811 (814, 813, 809, 834) *635 Average Single Family Home List Price: $526,651 ($524k,$574k,$544k,$568k) *$475k Average Single Family Home Selling Price: $518,066 ($520k,$570k,$545k,$569k) *$470k Single Family Home Sale to List Ratio This Week: 98% (99%, 99%, 100%, 101%) *99% Median Single Family Home List Price (6 mo):$519,000 ($520k,$520k,$520k,$525k) *$460k Median Single Family Home Sold Price(6 mo):$530,000 ($532k,$535k,$535k,$536k)*$480k Average Days on Market Single Family Home: 25 (33, 31, 27, 32) *31 Condo Stats Active Condos: 126 (126, 127, 124, 126) *97 Average Condo Listing Price: $478,044 ($415k, $348k, $493k, $444k) *$425k Average Condo Selling Price: $471,066 ($416k, $345k, $492k, $433k) *$429k Condo Sale to List Ratio This Week: 99% (100%, 99%, 99%, 98%) *101% Median Condo List Price (6 mo): $429,900 ($430k, $430k, $430k, $430k) *$395k Median Condo Sold Price (6 mo): $440,000 ($439k, $440k, $440k, $444k) *$390k Average Days on Market Condos: 88 (27, 38, 31, 20) *23 Active Vacant Lots: 420 (424, 416, 407, 431) *412 Market Rant Activity reluctancy continues its decent as we approach the colder months of the year, but there are still mixed reports with what is happening vs what should be happening. The Halifax market is still pushing right along, and although inventory continues to fluctuate, buyer active remains steady. The continued lower product additions this year and increased buyer tempo have really made for an interesting market environment, and one that has been stumping quite a few buyers out there. Waiting for "the one" has often turned into "the available one", with buyers conceding a few more items from the "must have list", but with the market changing, there has been a few less items that buyers need to strike off the list to make it an option. That, or they are more that willing to wait it out, knowing that more options will be on the way. which is certainly a different experience from the last few years. It's still a surprise to some sellers to hear the changed dynamic of our marketplace, and of course, its a welcomed change to Buyers. Inventory levels from this year to last has continued to increase over the last few months, which has been a strange happening, but it will create a padding for the new market year when things heat up again. As mentioned in a previous post, this time of year does have an annual trend of reducing to the inventory low point which bottoms out right around Christmas, so this is a normal event. It'll be a nail biter right to the buzzer I think, so stay tuned to catch the final chapter in the Halifax market year. 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: 173 (204, 209, 243, 269) *124 Sold: 119 (119, 117, 119, 123) *87 Sale To Listing Ratio: 69% (58%, 56%, 49%, 46%) *70% Price Changes: 97 (103, 116, 132, 141) *61 Conditional Sale: 113 (120, 135, 168, 152) *105 Expired/Cancelled/Withdrawn: 42 (71, 140, 47, 58) *54 Total Active Halifax/Dartmouth Inventory: 1,544 (1,536, 1,525, 1,583) *1,269 Absorption Rate in weeks: 13 (13, 13, 14, 14) *12 Single Family Home Stats Active Single Family Home: 814 (813, 809, 834, 834) *627 Average Single Family Home List Price: $524,271 ($574k,$544k,$568k,$548k) *$460k Average Single Family Home Selling Price: $520,113 ($570k,$545k,$569k,$552k) *$454k Single Family Home Sale to List Ratio This Week: 99% (99%, 100%, 101%, 101%) *99% Median Single Family Home List Price (6 mo):$519,900 ($520k,$520k,$525k,$525k) *$450k Median Single Family Home Sold Price(6 mo):$531,675 ($535k,$535k,$536k,$537k)*$485k Average Days on Market Single Family Home: 33 (31, 27, 32, 23) *35 Condo Stats Active Condos: 126 (127, 124, 126, 128) *96 Average Condo Listing Price: $414,637 ($348k, $493k, $444k, $530k) *$486k Average Condo Selling Price: $415,506 ($345k, $492k, $433k, $517k) *$479k Condo Sale to List Ratio This Week: 100% (99%, 99%, 98%, 98%) *99% Median Condo List Price (6 mo): $429,900 ($430k, $430k, $430k, $430k) *$390k Median Condo Sold Price (6 mo): $439,000 ($440k, $440k, $444k, $443k) *$395k Average Days on Market Condos: 27 (38, 31, 20, 22) *26 Active Vacant Lots: 424 (416, 407, 431, 428) *407 Market Rant After one week of inventory reduction a couple weeks ago, the anticipation was that we would see annual trend take over and continue the reductions week to week until we hit the bottom. Turns out that was just an irregular week, because we are back to adding products to the market! The gains aren't huge, but noticeable since we should be headed in the opposite direction around this time of year, thanks to the the above average amount of new listings that poured to market this weekt. Average values in both tracked values continue to reduce, which is common for this time of year, but could also be due to the current market environment. With more listings coming to market, and seasonal tepid buyer activity, sellers are likely not met with the same vigour as earlier this year which will cause prices to kick down to meet the demand, or lack thereof. Single family homes sold, on average, below the asking price, which is something that hasn't been all that common this year but will likely continue to happen as the market cools. Holiday weekends tend to skew the numbers a bit, so perhaps a few of these anomalies can be chalked up to timing, we will need to take a closer look next week to confirm things. Good news is that I have you covered, so be sure to check in, 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 |
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
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