The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, bu Jeremiah Wallace of ViewPoint Realty: November 19th-26th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 250 (230, 261, 312, 313) *154
Sold: 229 (230, 198, 242, 225) *149
Sale To Listing Ratio: 92% (100%, 76%, 78%, 72%) *97%
Price Changes: 88 (88, 105, 74, 86) *103
Listings that went conditional/pending: 208 (242, 228, 246, 283) *138
Expired/Cancelled/Withdrawn: 37 (62, 100, 44, 59) *62
Total Active Halifax/Dartmouth Inventory: 1,492 (1,472, 1,573, 1,649, 1,632) +2,601
Absorption Rate in weeks: 7 (7, 7, 7, 7) *17
Single Family Home Stats
Active Single Family Home: 653 (652, 739, 783, 798) *1,336
Average Single Family Home List Price: $399,627 ($416k,$425k,$387k,$427k) *$373k
Average Single Family Home Selling Price: $403,162 ($418k,$431k,$391k,$430k) *$365k
Single Family Home Sale to List Ratio This Week: 101% (101%,101%,101%,101%) *98%
Median Single Family Home List Price (6 mo): $349,250 ($350k,$345k,$343k,$340k)*$310k
Median Single Family Home Sold Price (6 mo):$355,000 ($354k,$350k,$350k,$350k)*$305k
Average Days on Market Single Family Home: 35 (38, 40, 38, 28) *66
Active Condos: 135 (123, 133, 151, 162) *187
Average Condo Listing Price: $378,238 ($299k, $390k, $302k, $341k) *$291k
Average Condo Selling Price: $368,681 ($294k, $385k, $302k, $332k) *$290k
Condo Sale to List Ratio This Week: 97% (98%, 99%, 99%, 97%) 99%
Median Condo List Price (6 mo): $269,900 ($270k, $270k, $269k, $270k) *$245k
Median Condo Sold Price (6 mo): $272,000 ($270k, $270k, $270k, $270k) *$239k
Average Days on Market Condos: 28 (71, 24, 56, 60)*35
Active Vacant Lots: 551 (547, 550, 560, 535) *874
Bit of an oddball week, as the inventory actually had a slight increase in all tracked products across the board. Could be that some buyers took the week off to get some Christmas shopping done, or perhaps it's just the market, since if you look closely, the stats several things did not change a lot from last week. There was a few more listings, a few less sales, but the real factor this week I think was reduced buyer activity. Buyers that placed offers and had them accepted this weekly as reflected by the pending sales stat had a slump this week, still good for this time of year and compared to last year at this time, but not what we are accustomed to in the 2020 market. A measly 37 properties retreated from the market this week too, so it seems the inventory addition wasn't just one factor, but several small stats that contributed in turning the tide. Another interesting report this week was the 6 month median list/sell price of single family homes. For the first time since the beginning of the year, it actually decreased! Not by a lot ( a mere $250.00), but it's certainly significant. Because the six month median takes into account all sales in that timeframe, fluctuations are usually gradual since there is so much data to draw from. Where the change is a reduction in the value for that important stat, the question becomes is this an indication that a peak is here, or close? Stay tuned to the blog to see if our market has turned a corner, or if this weeks report is a one off, much like many in this anything but predictable market year. Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Shelby is a ~8 year old female spayed amstaff mix. (~25 kg)
She would prefer a home children 16+.
She would prefer a home with no cats or small animals.
She is foster to adopt.
Shelby is finally ready for her big adoption debut. This sweet girl has so much love and affection to give to her new family. She has had some medical to get through before she was ready to show her beautiful self, and she is still working through it but she has progressed to a point where she is now available to see. Shelby loves to be outside with her people and go for walks in the sunshine. She isn't a fan of the rain so on those days she likes to spend time inside with a good toy to chew on. Shelby is an absolute delight and the perfect companion.
This "cuddly companion" is available through SPCA Nova Scotia, 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