The Halifax Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of Viewpoint Realty: February 23rd - March 2nd, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 163 (153, 156, 155, 143) *221
Sold: 91 (83, 88, 96, 78) *124
Sale To Listing Ratio: 56% (54%, 56%, 62%, 55%) *63%
Price Changes: 46 (42, 46, 39, 50) *14
Listings that went conditional/pending: 102 (83, 117, 129, 118) *137
Expired/Cancelled/Withdrawn: 51 (14, 30, 52, 81) *28
Total Active Halifax/Dartmouth Inventory: 1,046 (1,042, 989, 974, 984) *555
Absorption Rate in weeks: 12 (12, 12, 13) *5
Single Family Home Stats
Active Single Family Home: 485 (490, 461, 462, 462) *174
Average Single Family Home List Price: $522,283 ($550k,$565k,$614k,$538k) *$507k
Average Single Family Home Selling Price: $521,955 ($552k,$565k,$609k,$522k) *$597k
Single Family Home Sale to List Ratio This Week: 99% (101%, 100%, 99%, 97%) *118%
Median Single Family Home List Price (6 mo):$475,900 ($470k,$470k.$465k,$463k) *$400k
Median Single Family Home Sold Price(6 mo):$471,500 ($468k,$465k,$465k,$460k)*$455k
Average Days on Market Single Family Home: 36 (37, 37, 35, 31) *21
Active Condos: 68 (71, 64, 66, 67) *39
Average Condo Listing Price: $418,874 ($452k, $488k, $536k, $523k) *$452k
Average Condo Selling Price: $419,479 ($448k, $487k, $531k, $515k) *$529k
Condo Sale to List Ratio This Week: 100% (99%, 99%, 99%, 98%) *117%
Median Condo List Price (6 mo): $399,900 ($400k, $400k, $396k, $399k) *$350k
Median Condo Sold Price (6 mo): $400,000 ($393k, $395k, $393k, $391k) *$371k
Average Days on Market Condos: 20 (28, 19, 38, 55) *6
Active Vacant Lots: 369 (368, 358, 347, 335) *233
Is it March already?? Feels like we are flying through the year so far, with Spring just around the corner and hopefully warmer weather on the way as well! The big story this week, and seems to be the highlight of things so far this year, are the prices. Many speculated that there would be a drastic fall from the peak of the market, which started last Spring, and yes there was a correction, but perhaps not as big as most thought would occur. If anything, it has been a soft landing after the peak of the pandemic market, but since that time, the average listing prices have slowly stared to rise to meet those new and fantastic selling prices. Since the amount of the overbid could not be compensated for during the pandemic market, Realtors slowly increased the listing prices to meet the demand of property around the HRM. When the over the top multiple over bids came to a halt, there was a rubber band effect bringing prices back down after a season of correction, with selling prices seeing the most signifiant reduction. Last year at this time, we were still in the peak of the market, and as you can see from above, the average weekly listing prices have not changes all that much, but the selling prices (for single family homes anyways) has been drastically reduced. As the balance of the market continued, the question was when would parity and stability return. So far, 2023 is hinting that the balancing of the scales has occurred, and we are back to business as usual. It is early signs however, and the first three months of the year to tend to be an oddly exciting time in real estate, so more time and data will be needed for confirmation. The good news is that I have you covered, so be sure to stop by to the HREB and stay up to date with our market! Thanks for stopping by!
The Weekly "Adogtable"
My name is Ollie; get ready to fall in love with me! I'm a 6 yr old, 45lb, blue heeler mix fella. I’m an amazing boy who recently lost my Dad which brought me back to SALCARS. I first came to Nova Scotia in 2019 from Texas and have been loving my life in Canada ever since! I'm now starting the search for my forever home.
I’m good with other dogs! When I first meet them I get excited and say hi! I have a foster doggy sister that I’ve been living with. She is pretty low energy and we get along great! My previous home had another dog, five cats and two kids!
I have been finding my voice over the past two weeks and will sometimes use it to say hello to other dogs outside the house, or let you know that my ball rolled under the couch! When I’m outside walking I’m a really good boy walking by strangers; I especially like it when they tell me how handsome I am and give me pats! When I see doggies I get excited and start to use my voice; I just want to meet them! I sometimes bark inside if I hear noises that are unfamiliar but it never lasts long and with gentle encouragement, I am getting better with this. Isn’t it funny that I don’t mind the sound of the blender but don’t like the sound of the Soda Stream!? I have been good with the doorbell ringing, the snow plow going by, and other loud vehicles!
I love my leash; it wraps around me like a harness to keep me extra safe! I am such a good boy when my foster parents put my leash on. I LOVE to go for walks! I go for at least two 30-minute walks a day where I get to sniff, explore, and have lots of adventures. I don’t pull on leash when walking but sometimes I nip at cars when they drive by. It’s not all the time and if you’re between me and the car then I won’t do it!
I am HOUSEBROKEN! My foster parents are so proud of me for this! If I need to go to the bathroom I will gently scratch at the door to let you know; I am so smart!
I love my food! I eat grain-free food because it makes me feel the best. I have a special enrichment/slow feeding bowl that I really like to eat out of! Some days I’m slow at eating but if my foster parents put the kibble in their hand or on the floor I gobble it up! My foster sister was eating out of my very special bowl and I got a bit grouchy with her. It only happened once but now my foster parents know it’s best to feed us separately! Rumour has it I can get into garbage! I haven’t done it with my foster parents because they heard the rumour. They make sure the garbage can isn’t left where I could get into it and also make sure there isn’t food left out on the counter!
I don’t really like my feet being touched but with gentle encouragement and work, I have started letting my foster dad touch my feet. He was very patient with me and I even lift my paws for him now to towel them off!
I am so good in the car! My favourite seat is back left. Why might you ask? I love to watch on-coming traffic! Sometimes I put my face next to the window and pretend I’m nibbling the car! I also like to lick the car window; you can thank me later for keeping it clean!
I love my humans! I am a little slower to show affection with strangers and my foster parents have been really patient and understanding. It may take a bit of time for me to give you kisses and show you my belly but when I do, you will get lots of both! I like to spend time on the couch with my humans and I really love sleeping in the bed with them! Because I love my humans, I miss them when they’re gone! My foster parents have created a safe-space for me in the kitchen. I have a bed in there and it’s where I eat and spend my time if my foster parents are away. My foster parents leave me alone for 6 hours on work days (what’s work!?) and I am such a good boy! The first day I accidentally damaged the blinds but it wasn’t my fault! I was looking out the window and made a boo boo. I also had an accident on my bed but I can assure you it only happened once! I was nervous when getting used to the new routine but I’m such a smart boy I pick up on routine really quickly! While I can be left alone sometimes, I’m happier when my favourite humans are home! I will always be excited, smile lots, and wag my tiny tail when you get home.
I really love my ChuckIt balls! I like to play by myself in the house; I pounce on the ball like a fox! Sometimes my ball goes under the couch and my foster parents will get it for me. Don’t tell them but sometimes I do it on purpose! It is so much fun.
I am a smart boy! Because of this I am easy to train and have picked up routines and commands so fast. My foster parents think that in my perfect home, my human would be willing to work with me and help me live my best enriching life! I will be a great companion for someone who loves to be active and also loves to lounge on the couch! I can’t wait to meet you and find my furever home! I know you will love me as much as I will love you!
My adoption fee is a $450 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 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
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Jeremiah Wallace, CD
Jeremiah 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..
Photo's by Jeremiah