The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: April 13th-20th, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 258 (217, 260, 192, 165) *248
Sold: 138 (109, 128, 98, 85) *170
Sale To Listing Ratio: 54% (50%, 49%, 51%, 51%) *69%
Price Changes: 61 (53, 58, 55, 44)*35
Listings that went conditional/pending: 196 (128, 154, 132, 108) *169
Expired/Cancelled/Withdrawn: 37 (69, 69, 21, 29) *38
Total Active Halifax/Dartmouth Inventory: 1,202 (1,216, 1,180, 1,158, 1,130) *675
Absorption Rate in weeks: 10 (13, 12, 13, 13) *
Single Family Home Stats
Active Single Family Home: 580 (604, 584, 564, 552) *269
Average Single Family Home List Price: $643,970 ($582k,$500k,$582k,$565k) *$481
Average Single Family Home Selling Price: $639,538 ($585k,$553k,$582k,$567k) *$570k
Single Family Home Sale to List Ratio This Week: 99% (101%, 101%, 99%, 101%) *119%
Median Single Family Home List Price (6 mo):$499,900 ($490k,$490k,$480k,$480k) *$430k
Median Single Family Home Sold Price(6 mo):$490,000 (485k, $484k,$476k,$475k)*$515k
Average Days on Market Single Family Home: 29 (28, 24, 32, 27) *9
Active Condos: 102 (99, 92, 78, 79) *53
Average Condo Listing Price: $455,062 ($492k, $425k, $437k, $435k) *$405k
Average Condo Selling Price: $453,375 ($487k, $427k, $440k, $487k) *$479k
Condo Sale to List Ratio This Week: 99% (99%, 101%, 101%, 102%) *118%
Median Condo List Price (6 mo): $399,900 ($400k, $400k, $400k, $408k) *$372k
Median Condo Sold Price (6 mo): $404,900 ($403k, $403k, $405k, $406k) *$422k
Average Days on Market Condos: 21 (21, 32, 19, 10) *5
Active Vacant Lots: 380 (369, 370, 377, 368) *234
Looks like the Spring market is in full swing! Solid reports in both new market listings and buyer activity as reflected in the pending stat, both reporting higher than this time last year. Decent sales week as well, with a positive showing for this years market, despite still reporting lower than this time last year. The big surprise this week is the absorption rate. Sure, we have had a few good month of activity, but this is a slow change stat, usually. If you imagine the absorption rate as the accelerator of a car, the more you press the pedal to the floor, the faster you go. With the absorption rate, the lower it pushes, the faster things disappear from the market. With interest rates and overall prices stabilizing, the market may not seem so intimidating to buyers anymore, inviting them back. We are also starting to see first time, somewhat affordable properties come to market this year, which has not been the case in the last couple. Another interesting report this week are the sales values, especially the median single family home list/sell prices for the last six months. Late last year they somewhat stabilized, with the projection being a further drop coming into the 2023 market year, however, prices recovered and this stat has been on the rise ever since. This month alone, this six month average has actually increased 20k in a few weeks for listing, and 15k for selling. With more inventory on the way, these numbers should cool as demand is met, but it's anyones guess where and when that ceiling will arrive. Luckily, I have you covered, so stay tuned to the blog to stay informed! Thanks for stopping by!
The Weekly "Adogtable"
I'm Guero. I am a 6 yr old, Am Staff mix fella weighing approx. 50lbs. I came all the way from Texas a couple weeks ago in hopes of a better life. Now I just need a forever family to complete that dream.
I like chasing balls and my tug toy. At first, I wouldn’t bring the ball back to be re-thrown, but now I do. I did have a little issue with my new tug toy my foster mom made me. They tried to take it away from me so I let out a few warning growls. That was before I knew them well, but now that I do, when they insist on taking it, I do let it go without issues. I now know it’s my toy, and that they will give it back. We now only play tug with a rubber tug, and not my special one (the cloth one they throw and let me bring it back). Foster mom thinks that it would be best for me to be with older children who understand boundaries.
I’m a bit hesitant around new people, more so with men but a little time and I warm up to everyone. When I’m not asking my foster family for reassuring pats, I’ll find a spot out of the way to wait until the new people are gone. I may flinch if someone goes to pat the top of my head when I’m not expecting it so please give me a few minutes with new people so it's not so scary for me. I am also scared of brooms, if you have one in your hands, I will run and hide. 😥
I do love pats and cuddles and I go find everyone in the family to get more. I didn’t care for stairs at first, but now I have no problem going up and down in search of more people to tell me what an amazing boy I am!
I don’t like it when my foster-family leave the house, mostly because I want them to take me with them. I’ll whine a bit, but then I’ll go lay down and wait. If they all go out, I’ll usually curl up on the couch to wait (or sometimes in foster mom and dad’s bed, where I’m not supposed to be, hehe!).
I love my dog bed, and like to be covered with a blanket so that I’m nice and cozy. I’m a medium energy dog, my foster-family takes me on multiple short (1km) walks a day. I would be happy with as many walks as you’re willing to give me. I walk pretty well on a leash but I stop frequently to mark. I often forget and pull a bit, but I settle down again when reminded. I like to walk on the curb when on my walks.
I eat up all the food I’m given right away and won’t leave any for later so I probably wouldn't do too well being free fed. I haven’t taken anything from tables or counters, and while I do look for tasty tidbits that might have fallen, if I think someone else might want them, I’ll leave them be. When I’m offered treats, I take them politely from foster mom’s hand. I won’t try to get into the garbage or the compost, and I won’t try to destroy anything.
I’m fully housetrained! When I want to go out, I paw at the door. If no one hears, sometimes I’ll whine, and occasionally I’ll bark. I do bark at unexpected noises and I sing as loud as I can when I hear firetruck sirens, but for the most part, I’m a pretty quiet dog.
I have met cats before and while they don’t seem to bother me here, in Texas, my buddy and I busted through a fence to chase one. Karma sure got me that day as I hurt my eye busting out of that fence but I'm ok now. So maybe it would be better if there were no cats. I love playing with other dogs, and I ask to go play with every dog I meet on my walks. A canine sibling would be great.
I can “sit” for my leash to be put on and while my food is given. I don’t reliably know “come” but I respond really well to foster mom’s excited voice. I’m starting to know “off” when I jump up on the furniture. I don’t jump on people. I can shake hands. I try hard to do whatever is asked of me, even though sometimes I don’t quite understand. I’m a smart boy, though, and foster mom thinks that it won’t take me long to learn everything I need to know to achieve my maximum potential.
My foster family will be very sad to see me go, but happy for me to have found my forever home. Are you my forever home?
My adoption fee is a $450 donation to the rescue to help save more dogs like me. I am neutered, vaccinated, microchipped, 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