The Halifax Real Estate Blog Weekly Market Rant and Statistics Report, by Jeremiah Wallace of ViewPoint Realty (October 1st-8th, 2020)
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 260 (295, 343, 367, 351) *283
Sold: 209 (238, 226, 270, 221) *158
Sale To Listing Ratio: 80% (81%, 66%, 63%, 63%) *56%
Price Changes: 85 (117, 114, 140, 114) *157
Listings that went conditional/pending: 277 (228, 289, 317, 252) *183
Expired/Cancelled/Withdrawn: 107 (92, 58, 60, 46) *85
Total Active Halifax/Dartmouth Inventory: 1,656 (1,683, 1,721, 1,741, 1,771) +2,989
Absorption Rate in weeks: 7 (7, 7, 7, 7) *17
Single Family Home Stats
Active Single Family Home: 806 (807, 827, 838, 872) *1,625
Average Single Family Home List Price: $398,132 ($387k,$413k,$391k,$404k) *$353k
Average Single Family Home Selling Price: $403,730 ($396k,$415k,$394k,$409k) *$346k
Single Family Home Sale to List Ratio This Week: 101% (102%,101%,101%,101%) *98%
Median Single Family Home List Price (6 mo): $339,900 ($340k,$340k,$340k,$339k)*$309k
Median Single Family Home Sold Price (6 mo):$349,000,($346,$345k,$344k,$342k)*$302k
Average Days on Market Single Family Home: 42 (29, 34, 34, 51) *60
Active Condos: 147 (159, 162, 163, 159) *207
Average Condo Listing Price: $314,925 ($283k, $286, $268k, $289k) *$258k
Average Condo Selling Price: $313,702 ($284k, $298k, $272k, $289k) *$243k
Condo Sale to List Ratio This Week: 99% (101%, 104%, 100%, 100%) 94%
Median Condo List Price (6 mo): $259,900 ($260k, $260k, $260k, $270k) *$250k
Median Condo Sold Price (6 mo): $263,500 ($260k, $260k, $260k, $270k) *$241k
Average Days on Market Condos: 71 (13, 8, 18, 33)*38
Active Vacant Lots: 546 (562, 567, 568, 569) *906
Much ado about values! Single family home values continue to impress, with average listing prices hovering around the $400k mark, and selling over their listing price. This is on average, and we all know the big question is how much, which of course is unique to each and every property. Discussing this topic with a few colleagues, the going average seems to be around $20-30k over asking on properties listed around the $300k mark, but that of course can fluctuate significantly given the area and just how much interest the listing received. Still, this buyer pressure continues to be relentless, and because of this, prices are being pushed higher and higher. Just take a look at the six month median selling price of single family homes, which is starting to show the true nature of the post pandemic market. Taking all of the single family median sold listings over a six month duration, you can clearly see that we have now edged to almost $10k over the listing prices. Where if you were to rewind a few short years ago, this median price statistic was exactly opposite. Condo's too have felt this market, just not as significantly as single family homes have. The core must be getting somewhat accustomed to this sustained activity, but the outlying areas that this has poured into seems to be met with surprise still, not only by buyers, but sellers as well. Another week of solid numbers in the books, so stay tuned to see if this holds out, or if indicators start pointing in the opposite direction. Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
I'm Zazu. I am a pretty easy going dude. I'm an approx 8 year old male Amstaff mix, and I weigh 55 lbs. I came to NS from Quebec a couple weeks ago and am now ready to start the search for my forever home.
I am a very charismatic fella and easily make friends wherever I go. I am great with dogs of all sizes. I've seen a few kitties, one in a home and a few on walks, I just ignore them. I am amazing with kids, however, my love of food sometimes gets the best of me and I'll snatch food right out of their hands, pretty much any chance I get. My foster mom thinks I shouldn't do this but if I do, I could be more gentle, so due to this, she feels kids over 5 would be best. My foster human brother has a battery powered car and 4 wheeler. These scare me a bit and I try to get away from them.
I walk pretty well on leash but I'm still working on trying not to pull as much. I am quite active but I'm just as happy curled up on the couch. I am fully house trained and will let you know when it's time for a walk to go do my business. I am highly food motivated and love to be told what a good boy I am. I love car rides. I definitely do not like when my foster mom goes out, (I try to follow her out the door), but having my foster fur brother home with me while she is at work is a big help so I would definitely do best in a home with someone home more than not and a fur sibling to keep me company. I am great being home with just my fur foster brother, as long as food is properly stored. If it's not, remember, it's not my fault, I warned you!! I've never been left completely home alone so not sure if I'd like that.
I love to snuggle in bed with my people. I am rarely vocal but if my fur sibling starts, I will probably chime in. I'll tolerate a bath but it's not on my favorite to do list. I love toys so lots of those for me, please. I especially like this tug of war game, how fun!! I get very excited in play and jump around alot so it's probably not ideal to have little ones around during my playtime. I don't want one getting accidentally hurt. I do have a mild allergy, likely to chicken, so I am on a fish based diet.
My ideal home would be where I can be part of the fun when it is being had, and equally part of the relaxation time too! I'd love lots of toys, a fur sibling and someone home more than not. I am very social and playful, and have the most amazing sweet, cuddly side of me that makes me the perfectly balanced companion.
My adoption fee is a $300 donation to help save more dogs like me. I am neutered, vaccinated, microchipped, and have all my doggy papers to come home to you! Apply to adopt me online at https://www.salcars.ca/adopt
This "cuddly companion" is available through Save a Life Canada 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