The Halifax Real Estate Blob Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 27th to November 3rd, 2022
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 169 (184, 194, 186, 209) *192
Sold: 91 (129, 114, 115, 97) *162
Sale To Listing Ratio: 54% (83%, 59%, 62%, 46%) *84%
Price Changes: 118 (79, 106, 119, 132) *53
Listings that went conditional/pending: 128 (136, 164, 124, 131) *186
Expired/Cancelled/Withdrawn: 112 (54, 48, 48, 128) *99
Total Active Halifax/Dartmouth Inventory: 1,280 (1,322, 1,313, 1,340, 1,333) +942
Absorption Rate in weeks: 12 (12, 12, 12, 12) *6
Single Family Home Stats
Active Single Family Home: 640 (671, 678, 703, 695) *331
Average Single Family Home List Price: $544,689 ($556k$528k,$606k,$508k) *$472k
Average Single Family Home Selling Price: $540,447 ($548k,$523k,$599k,$499k) *$509k
Single Family Home Sale to List Ratio This Week: 99% (99%, 99%, 99%, 98%) *108%
Median Single Family Home List Price (6 mo): $459,900 ($460k,$460k,$450k,$450k) *$386k
Median Single Family Home Sold Price (6 mo):$498,900 ($500k,$501k,$502k,$505k)*$435k
Average Days on Market Single Family Home: 26 (27, 27, 31, 27) *17
Active Condos: 106 (107, 113, 110, 108) *63
Average Condo Listing Price: $455,218 ($427k, $470k, $506k, $427k) *$474k
Average Condo Selling Price: $449,409 ($421k, $453k, $442k, $497k) *$458k
Condo Sale to List Ratio This Week: 99% (99%, 96%, 99%, 98%) *97%
Median Condo List Price (6 mo): $387,000 ($390k, $390k, $385k, $382k) *$325k
Median Condo Sold Price (6 mo): $400,000 ($401k, $405k, $404k, $405k) *$345k
Average Days on Market Condos: 23 (30, 33, 10, 33) *19
Active Vacant Lots: 405 (415, 394, 394, 384) *409
I think it's safe to say that inventory has finally decided to comply with annual trend and kick down in volume this week, reporting below the 1,300 unit marker for the first time since August. I'm sure there are a few contributing factors, like that big pile of inventory that withdrew from the market this week, the less than stellar new listing additions, and a fairly decent sales week that helped it along, but after an October surge things seemed to have cooled again. So, that should be the peak of inventory for the year! From this point, the market should continue to pump the brakes as focus shifts to the holiday season next month. Values overall are still adjusting, which you can expect to carry on to the new market year, and the first somewhat normal Spring we will hopefully have since before the pandemic. Until then, there will see be a lot of market watching and wondering. When will we hit the bottom? Will prices get much lower? Only time will tell! Seems to be a bit of a stand off in the current market environment, with Buyers not willing/wanting to pay over asking price, and sellers holding fast in a lot of cases in hopes of getting what the neighbour sold for in April. Eventually there will be a balance, and market expectations should return when the market stabilizes for a long duration. Stay on top of things by tuning into the blog, and don't hesitate to reach out with any of your market or real estate related questions! Thanks for stopping by!
The Weekly "Adogtable"
Hi everyone, I'm Looanne. I am listed as a 2 yr old, 26 lb, blue merle cairn terrier mixed female although the vet here thinks I'm closer to just a year old. I was found as a stray on the streets of Louisiana so a couple weeks ago, I made my way to NS, in hopes of finding my furever family in the beautiful Maritimes.
My foster home includes a cat, a small hooman brother, and my foster mamma. I love them all! I’m a happy-go-lucky girl with impeccable smarts and sometimes I even have great manners to match - it just depends on how excited I am, and how clear the expectations of me are. I adore everyone I meet including kids, cats, and other dogs. I think I’d love a young, active family to add my funloving and goofy energy to! I am getting about 2 twenty minute walks a day here, and a few 30 minutes of a new game I’ve learned called fetch - I love it! It helps me expend energy so I’m calm when my friends are calm, and teaches me what I am allowed to chew! I love toys of all kinds, and I’m learning which ones are mine, versus which are the babies, or which belong on my foster moms feet and are not for chewing.
Sometimes the cat doesn’t appreciate how much I want to play with her, and I respect that in the moment - but it doesn’t make me give up on trying later. I have understood when my little hooman tells me that I need to learn some personal space, or that I’m a little too pushy. It’s hard for me though, my instinct to be physical in play is powerful, and I’m a pretty solid girl, so it would be better if some bigger kids were part of my forever family who can help with me keep learning this. Another doggy sibling to play with may be ideal for me too.
I am working on my house training and it is coming along - I do have accidents, but did I mention I am very smart? By taking me out often and consistently, I should have this mastered in no time. I do, however, still piddle a little when I meet someone new, I’m just so happy to meet them. The vet says my spay might help with this. I have also learned “sit”, and I’m mastering “stay”, and “no” - as long as I hear that your tone means business, I get the message and listen well!
I don’t love being home alone, but I accept that it needs to happen sometimes. Given that I’m still getting the hang of table manners, I prefer to curl up in a bathroom and have a good nap while you’re away rather than have free reign of the house. This is much better for me than a crate - I spent too much time in those and they make me upset. A room is fine though! My new foster mom thinks I could be trusted in the open house, as long as there’s no food or garbage within reach, and I have toys to play with - even better if I have a doggy playmate!
I’ve tried swimming and it isn’t my favourite, but I’ll follow you if you ask, and I might even learn to enjoy it. Sometimes car rides make me queasy, the stopping motion especially. I LOVE hikes and walks and running on the beach - I hope to do some more of these adventures with my furever family.
I would really love other canine fur siblings in my home, ones that match my energy level are preferred, but definitely ones who will play with me. I do have some energy to burn, but I have such a loving nature, a huge desire to please, and a very respectful demeanour once I understand what is expected of me - I’m sure that as long as we can communicate clearly and directly, you’ll find me an easy dog to be with, and we will be the perfect match.
I am not yet spayed, my appointment is Oct. 4th so if I am adopted by then, my new family will need to be able to get me to the vet and back for my appointment. I may not be microchipped yet either, still waiting on confirmation, but if not, I will get that done during my spay.
If you are an active person with a bit of dog experience, who enjoys playing outside, I could be your girl!
Do you think we’d be a great match? If so, please fill out an application so we can meet!
My adoption fee is a $500 donation to the rescue to help save more dogs like me. I will be spayed, I will be microchipped, if not already, I am vaccinated and 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 her 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