The Halifax Real Estate Blog Weekly Market Rant and Statistic Update, by Jeremiah Wallace of ViewPoint Realty (August 20th-27th, 2020)
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 322 (334, 399, 332, 295) *286
Sold: 248 (250, 268, 231, 221) *209
Sale To Listing Ratio: 77% (75%, 67%, 70%, 75%) *73%
Price Changes: 111 (116, 123, 80, 98)*168
Listings that went conditional/pending: 297 (274, 294, 249, 271) *198
Expired/Cancelled/Withdrawn: 65 (56, 123, 123, 22) *89
Total Active Halifax/Dartmouth Inventory: 1,793 (1,830, 1,875, 1,860, 1,888) +3,216
Absorption Rate in weeks: 7 (8, 8, 8, 8) *17
Single Family Home Stats
Active Single Family Home: 904 (916, 952, 934, 961) *1,816
Average Single Family Home List Price: $413,352 ($402k,$376k,$387k,$362k) *$332k
Average Single Family Home Selling Price: $412,823 ($408k,$381k,$388k,$366k) *$324k
Single Family Home Sale to List Ratio This Week: 99% (101%,101%,101%,101%) *98%
Median Single Family Home List Price (6 mo): $337,900 ($335k,$333k,$330k,$330k)*$305k
Median Single Family Home Sold Price (6 mo):$340,000($338k,$337k,$335k,$334k)*$302k
Average Days on Market Single Family Home: 48 (41, 43, 41, 46) *58
Active Condos: 153 (164, 161, 155, 151, 156) *196
Average Condo Listing Price: $288,757 ($249k, $300k, $326k, $232k, $269k) *$287k
Average Condo Selling Price: $286,344 ($257k, $304k, $327k, $233k, $270k) *$278k
Condo Sale to List Ratio This Week: 99% (104%, 101%, 100%, 100%, 100%) 97%
Median Condo List Price (6 mo): $269,900 ($270k, $275k, $275k, $273k) *$250k
Median Condo Sold Price (6 mo): $272,000 ($270k, $273k, $273k, $270k) *$240k
Average Days on Market Condos: 30 (17, 22, 31, 24) *60
Active Vacant Lots: 571 (585, 588, 591, 607) *937
Dropping like flies! Inventory took a pummelling this week, which fell the stat to almost half of what was on the market at this time last year. Reductions in all tracked products across the board this week, but the status difference is likely due to the surge of properties that received and accepted offers this week, almost 300, which is 100 more products under agreement in a single week from this time last year as well. The feeling is that there are a lot of folks still trying to get into a place period, but there is also several of said buyer pool that would like to settle in before the school year kicks off. Since the Spring market was delayed this year due to the pandemic, it has caused a time delay in the market season as well, so this still feels very much like a vibrant Spring market. In fact, we hit another record this week with a first time event! For the first time since tracking these stats, the absorption rate has hit an all time low of a measly 7 weeks. So strange to say that since I reported there was a record in the same category a short 5 years ago, but it was the highest absorption rate ever reported! Crazy to think how different these two market are and the unique challenges that both possess. The big question here is if Atlantic Canada is now as susceptible to the boom/bust markets of those seen in the larger metropolitan cities like Vancouver, Toronto, Calgary etc, or is the mentality to hold fast regardless of how out of hand things may get? I can't help but think that some of these sale prices will burn some folks if the market turns, but desperate times call for desperate measures, and it seems there are more buyers willing to do whatever it takes to lock down a property regardless of resale or neighbourhood value factors. Very challenging landscape out there at the moment, be sure to stay tuned to the blog to keep informed! Thanks for stopping by, and atay safe out there!
The Weekly Adogtable!
Hi everyone! My name is Lola and I am a 1 year old blue heeler/border collie mix weighing around 35lbs. I came all the way from Calgary 2 weeks ago and after settling into my foster home I am ready for my next step!
I am currently living with cats and we all get along well. I was cautious at first but they all seem nice! I also live with a german shepherd and he is fun! It took me a few days to start playing but now we play all the time. The cat tried to take food from my dish when I was eating one day so I snapped once to tell him I like having my space. I don't mind if my humans are around when I'm eating but if I have something high value then I don't really like to give it up.
I need proper/slow introductions to new people so we all get off on a good start. I have a high pitch bark I will probably let out when meeting someone new and can try to lunge because I get anxious meeting them and feel restrained on the leash but if you just stand there and let me come to you I have done well so I hope my forever family will be patient with me and help me continue to learn humans are good! I have not met any kids and because I need proper introductions I will only go to a home with adults.
I went to doggy daycare for the first time this week and I was very cautious and reacted to a few dogs coming up to me but after 15 minutes I was a good girl and had a blast meeting dogs of all sizes!
I am muzzle trained for both new people and animal introductions. I am fine letting you put it on me but its not my favorite thing to wear. I am also crate trained for when you have to go out because I am still a puppy and like to keep my mouth busy. I bark a few times going back in the crate but settle very quickly.
I have the odd accident in the house but as long as I get out every few hours I have been good. I will just stand or sit in the car but I suggest we clip me in because I will try to roam around otherwise. I LOVE water and LOVE my ball when my foster parents play fetch with me. I am a very energetic girl and would play all day if you let me!
I am still learning to walk slower on the leash, everything is just so new and exciting I just want to get to the next place as fast as I can! I will let you know if I hear or see something so no apartments for this girl.
I am quite the sook when I trust you and if you're sitting down you can bet you will get kisses all over! I also like to get on your lap and roll down, foster mom says I'm quite the character 😇
Are you the perfect home for Lola girl?!
My adoption fee is a $400 donation to help save more dogs like me. I am spayed and microchipped, and I have all my doggy papers to come home to you! You can apply for me at
This "cuddly companion" is available through Save a Life Canada 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
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!
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, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah