The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: April 1st-8th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 420 (402, 318, 277, 236) *180
Sold: 239 (295, 216, 185, 198) *119
Sale To Listing Ratio: 60% (73%, 68%, 67%, 78%) *66%
Price Changes: 41 (53, 39, 26, 58) *45
Listings that went conditional/pending: 260 (363, 277, 258, 207) *120
Expired/Cancelled/Withdrawn: 57 (63, 35, 27, 46) *53
Total Active Halifax/Dartmouth Inventory: 988 (911, 916, 872, 859) +2,195
Absorption Rate in weeks: 4 (4, 4.5, 4.5, 5) *15
Single Family Home Stats
Active Single Family Home: 418 (347, 338, 304, 291) *1,184
Average Single Family Home List Price: $409,512 ($450k,$485k,$447k,$481k) *$338k
Average Single Family Home Selling Price: $463,396 ($500k,$520k,$477k,$507k) *$336k
Single Family Home Sale to List Ratio This Week: 113% (111%,108%,107%,105%) *99%
Median Single Family Home List Price (6 mo): $379,900 ($380k,$375k,$370k,$379k)*$320k
Median Single Family Home Sold Price (6 mo):$396,000 ($396k,$387k,$381k,$375k)*$315k
Average Days on Market Single Family Home: 11 (26, 26, 40, 38) *51
Active Condos: 90 (90, 103, 106, 107) *143
Average Condo Listing Price: $431,591 ($432k, $363k, $405k, $421k) *$309k
Average Condo Selling Price: $453,316 ($453k, $380k, $426k, $428k) *$303k
Condo Sale to List Ratio This Week: 105% (105%, 105%, 105%, 105%) 98%
Median Condo List Price (6 mo): $299,900 ($300k, $290k, $283k, $283k) *$257k
Median Condo Sold Price (6 mo): $315,700 ($310k, $299k, $280k, $290k) *$254k
Average Days on Market Condos: 30 (30, 126, 57, 118) *12
Active Vacant Lots: 361 (358, 358, 353, 364) *730
Just as predicted, the listing activity launched into action this week with the biggest addition to the overall inventory so far this year! You could feel it in the air that something was about to change, or, just that annual trend was going to take hold. That was the hope anyways, and it looks like that is just what happened this week. Gains in all tracked products this week, but still desperately short from the already low numbers of last year at this time. Another big surge of much needed new listings this week, and although slightly lower than last week, sales still performed amazingly well for have a long weekend in the mix. Single family average list/sale prices reduced again this week, and the six month median values only took an very small increase this week, which may be a sign that things are starting to cap out. Of course, it's a very early, and probably premature indicator, but the fact it didn't jump by thousands in a week as it has been may be a sign. I personally think it's a false crest, and that the 6 month median won't truly catch up to whats happening until a few months from now. The market has changed so rapidly this year, and if people thought last year was incredible for the market here in Halifax, 2021 has it beat by a long shot so far! This is going to be a year for the books, so stay tuned to the blog to stay on top of the rapidly changing market, stay safe out there, and thanks for stopping by!
The Weekly Adogtable!
I'm Teddy, a 3 yr old, 20lb griffon mix boy. I came from Egypt a couple weeks ago because my family didn't want me anymore and am now ready to start the search for my forever family.
I would be a great companion for someone who enjoys a cozy night with a good movie as I am an expert snuggler.
I love to learn new tricks because I'm rewarded with a tasty treat and I learn really fast! I am a medium activity boy, basically I just go with the flow, whatever you want to do, we'll do. I'm always happy to go for a walk as this means meeting all the new dogs. I'm an expert at walks and don't pull on leash. enjoy car rides and am very content to just look out the window. I also tolerate a bath well!
I am very confident and happy around other dogs and I'd really like to live with another canine companion. I haven't met any kitties yet so not sure how I'd feel about them. I enjoy playing with toys but prefer the company of my family above all. It wouldn't hurt for me to gain some more weight as I was a bit too skinny when I arrived in Canada but it shouldn't take long as I love food!
I live with 2 kids in my foster home and they respect my boundaries so all is good. I don't like them pulling my hair or stealing my food. And I will let them know with a little growl. I am very close to being completely housebroken with only occasional wee accidents. I currently go out three times a day and I do well on this schedule. I am good home alone and do not chew on furniture or other objects. I will spend most of my time lying on the couch or in my bed waiting for you to come back to me. When you finally return I will be just so happy that I'll greet you with a couple of affectionate barks. My foster mom says that I have a superpower - whenever you’re having a bad day, I can always put a smile on your face.
This outgoing lovable boy just can’t wait to meet you, so fill out an application today!
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 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