The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, bu Jeremiah Wallace of ViewPoint Realty (September 3rd-10th, 2020)
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 351 (322, 334, 399, 332) *277
Sold: 221 (248, 250, 268, 231) *149
Sale To Listing Ratio: 63% (77%, 75%, 67%, 70%) *54%
Price Changes: 114 (111, 116, 123, 80) *121
Listings that went conditional/pending: 252 (297, 274, 294, 249) *168
Expired/Cancelled/Withdrawn: 46 (65, 56, 123, 123) *71
Total Active Halifax/Dartmouth Inventory: 1,771 (1,793, 1,830, 1,875, 1,860) +3,157
Absorption Rate in weeks: 7 (7, 8, 8, 8) *19
Single Family Home Stats
Active Single Family Home: 872 (904, 916, 952, 934) *1,751
Average Single Family Home List Price: $403,576 ($413k,$402k,$376k,$387k) *$318k
Average Single Family Home Selling Price: $408,535 ($413k,$408k,$381k,$388k) *$312k
Single Family Home Sale to List Ratio This Week: 101% (99%,101%,101%,101%) *98%
Median Single Family Home List Price (6 mo): $339,000 ($338k,$335k,$333k,$330k)*$308k
Median Single Family Home Sold Price (6 mo):$342,000 ($340k,$338k,$337k,$335k)*$302k
Average Days on Market Single Family Home: 51 (48, 41, 43, 41) *86
Active Condos: 159 (153, 164, 161, 155) *213
Average Condo Listing Price: $288,574 ($289k, $249k, $300k, $326k) *$285k
Average Condo Selling Price: $288,504 ($286k, $257k, $304k, $327k) *$276k
Condo Sale to List Ratio This Week: 100% (99%, 104%, 101%, 100%) 97%
Median Condo List Price (6 mo): $269,900 ($270k, $270k, $275k, $275k) *$250k
Median Condo Sold Price (6 mo): $270,000 ($272k, $270k, $273k, $273k) *$244k
Average Days on Market Condos: 33 (30, 17, 22, 31)*68
Active Vacant Lots: 569 (571, 585, 588, 591) *930
It's back to school. this week, so now it's time to put my prediction to the test! Right out of the gate we do see some indications that I may be right, but it's hard to judge if it will stick with only one week in the books. If you are wondering what my prediction was, I basically put it out there that back to school would bring a sustained/increased level to the overall inventory, and a slight reduction in buyers, giving a bit of opportunity for the those in need of having to find a home. Although slight, this week was just that, but only time will tell if this was the marker for the turn, or just a slight pause in the action while students settle into their new normal. Another factor in this prediction is the approach the end of Summer, since September usually marks the end of the busy season, but I feel with the way this year has gone, regular annual trend is less of an influence. New listings reported much higher than last year at this time, and slightly better than the average of late, while sales hit a 4 week low (still excellent), and listings put under agreement also reported a similar 4 week low (also, still fantastic numbers). Either way, market activity was down (slightly), so we will need more time to see if it was a slight falloff, a change of the direction, or if correction has begun. Unfortunately for buyers, I believe we have lots of this market left to go, but there may be some more options this upcoming fall season, even if temporarily. Stay tuned to the blog to find out which way we go! Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Meet Odie! No cats, kids, dogs, or apartments for Odie. While Odie has been known to get along with other dogs, he gets overstimulated easily and tries to hump other dogs. Poor Odie was attacked by off leash dogs once, but was non reactive and has not shown any potential post-attack issues. Odie is affectionate, smart, and treat oriented! He has been known to resource guard the couch or the bed, but with structure and patience, he does well. He has been cornered and pushed around in a previous home, so is afraid in these circumstance and will growl to let you know he is frightened. Odie is good on leash, non destructive, and has no separation anxiety.
This "cuddly companion" is available through Good Bones Dog Rescue, 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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Newest Blog post HERE
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