The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: April 14th-21st, 2022.
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 248 (337, 386, 263) *378
Sold: 170 (181, 199, 149) *296
Sale To Listing Ratio: 69% (54%, 52%, 57%) *78%
Price Changes: 35 (54, 41, 18) *60
Listings that went conditional/pending: 169 (266, 227, 200) *358
Expired/Cancelled/Withdrawn: 38 (38, 55, 37) *44
Total Active Halifax/Dartmouth Inventory: 675 (655, 675, 577) +1,031
Single Family Home Stats
Active Single Family Home: 269 (245, 265, 215) *407
Average Single Family Home List Price: $480,735 ($504k, $502k, $499k) *$413k
Average Single Family Home Selling Price: $570,132 ($609k, $600k, $611k) *$462k
Single Family Home Sale to List Ratio This Week: 119% (121%, 120%, 122%) *112%
Median Single Family Home List Price (6 mo): $429,900 ($430k, $430k, $425k) *$380k
Median Single Family Home Sold Price (6 mo):$515,000 ($510k, $505k, $499k)*$403k
Average Days on Market Single Family Home: 9 (7, 7, 9) *20
Active Condos: 53 (52, 60, 37) *141
Average Condo Listing Price: $405,426 ($454k, $503k, $386k) *$329k
Average Condo Selling Price: $479,218 ($513k, $525k, $471k) *$355kk
Condo Sale to List Ratio This Week: 118% (113%, 104%, 122%) *108%
Median Condo List Price (6 mo): $372,400 ($375k, $370k, $370k) *$310k
Median Condo Sold Price (6 mo): $422,047 ($421k, $420k, $405k) *$325k
Average Days on Market Condos: 5 (5, 29, 9) *11
Active Vacant Lots: 234 (241, 242, 233) *397
You could feel it slow down a touch, and most tracked stats hit a lull this week. Perhaps it was the Easter long weekend, or maybe the weather kept folks at bay, but listings took a break and reported the lowest new listing addition in over a month, and the prices cooled a touch as well. Annually, however, we should see a wave of inventory hit the market in the next few weeks, since this time of year is usually the start of our true Spring market. The next few weeks will be huge in indicating which way the market will lean for the remainder of the year, and could possible have ongoing implications for the future market as well. Too early to tell if the interest rate hike, or the new tax implementation has had an impact yet, but those factors should start to be felt in the next few weeks. The big question on everyones tongue is "how much longer will the market sustain?", which is truly a very difficult question to answer. Predictability is just not in the cards for the Halifax real estate market right now, but if I had to take an educated guess, I would say we are in the early stage for a cooling in the market, at least in some areas and price points. Million dollar+ homes on the outside of the peninsula are sticking around in some areas, and not all properties are being met with the same buyer eagerness that we have seen in the last couple of years. Of course, there are still properties that are garnering the attention of buyers, which are mostly turn-key and priced just under true market value.
The Weekly "Adogtable"
Hey everyone! My name is Max. I’m a 4 year old fixed Lab/Rottweiler mix boy and I’m 80 lbs. I was a local surrender because I started to become upset with the children in the home. That was 4, long, months ago and I'm still waiting for my forever home. I've watched many dogs come and go through the rescue doors and can't help but wonder why noone chose me. I really am a good boy, I just need a bit of time to feel comfortable. But I'm not giving up hope that my forever family is out there somewhere and will see my beauty through my quirks. Fingers crossed for me!!
I am fully house trained. I have never had any accidents in the house. I am also non-destructive as you can tell by my toys. They are still looking fine after many months.
As mentioned I did live with kids at my last place and we weren’t an ideal match. I’d probably do best in a home with respectful children over the age of 15.
It took me a few days to get used to a large resident pup and cat but now that I've been an only dog for a while I think this might be my ideal home. I wasn't a fan of being around a smaller dog than me but dogs my size or bigger I'd still like to play with outside the home.
I get a little nervous and I’ll growl if people get too close too quickly and catch me off guard, but I warm up pretty fast if you give me some space first. Once I am comfortable with you, I’ll accept love in the form of pets anytime! I'm much more calm and quick to accept when the humans don't have those funny masks on their face. Once I put my trust in you completely, I’ll follow you to the ends of the earth. And become a very submissive boy.
The one place I really don't like is the vet! I will need some medication beforehand to try and help me calm down. Maybe with my forever family we can take some trips to the vet and just walk around so I can start to learn it doesn't have to be a scary place.
I love going for walks! I’ve also got great skills in the recall department. I’ll sit at the door and wait to go out to do my business. I don’t mind going in the car with you, but you’ve gotta let me hang my head out the window.
If you need to leave the home without me, I bet you’ll hear me howl through the walls when I hear your car come back. I get super excited knowing that you came back to me!
I’m a super cuddly guy that would love to lie on the couch with you or on your bed. My foster paw-rents gave me my own bed but I’d much rather be on theirs. My afternoon snore sessions are usually on the couch by the window so I can protect my owners.
I have a preference for the human food (aka anything but greens). Chicken based kibble seems to make me a little itchy, so I am staying away from all chicken, even though I look like I want it!. I love treats, and would love to eat only treats but, of course, I can't. I know how to sit, give paw, stand up, wait for my supper, and lay on my bed.
I love to flip bottom up and make all sorts of funny noises and put on quite a show when it’s playtime. I love the crinkly toys and ropes the most. I can also make you tired when I get a good toy and if you start to chase me! I can't help but grunt while running around so I hope you can have fun with me.
My ideal day would be to wake up on my own accord without having to be pried off my bed. Let’s be real, the mornings are getting cold! Next, I’d attempt to sway your heart to stay home from work, but relaxing on the couch while you’re gone isn’t so bad either. Once you return after what feels like an eternity, I would give you all my love and appreciation. I would have a play session and a walk with you, and then chill out on the couch again.
My adoption fee is a $400 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 the Save a Life Canada Animal 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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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