The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: April 20th-27th, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 300 (258, 217, 260, 192) *362
Sold: 149 (138, 109, 128, 98) *201
Sale To Listing Ratio: 50% (54%, 50%, 49%, 51%) *56%
Price Changes: 83 (61, 53, 58, 55)*48
Listings that went conditional/pending: 176 (196, 128, 154, 132) *270
Expired/Cancelled/Withdrawn: 43 (37, 69, 69, 21) *35
Total Active Halifax/Dartmouth Inventory: 1,273 (1,202, 1,216, 1,180, 1,158) *712
Absorption Rate in weeks: 10 (10, 13, 12, 13) *4
Single Family Home Stats
Active Single Family Home: 633 (580, 604, 584, 564) *293
Average Single Family Home List Price: $625,740 ($644k,$582k,$500k,$582k) *$540k
Average Single Family Home Selling Price: $627,936 ($640k,$585k,$553k,$582k) *$619k
Single Family Home Sale to List Ratio This Week: 101% (99%, 101%, 101%, 99%) *115%
Median Single Family Home List Price (6 mo):$499,900 ($500k,$490k,$490k,$480k) *$440k
Median Single Family Home Sold Price(6 mo):$495,000 ($480k,485k, $484k,$476k)*$520k
Average Days on Market Single Family Home: 29 (29, 28, 24, 32) *9
Active Condos: 101 (102, 99, 92, 78) *58
Average Condo Listing Price: $435,983 ($455k, $492k, $425k, $437k) *$653k
Average Condo Selling Price: $453,905 ($453k, $487k, $427k, $440k) *$705k
Condo Sale to List Ratio This Week: 125% (99%, 99%, 101%, 101%) *108%
Median Condo List Price (6 mo): $399,900 ($400k, $400k, $400k, $400k) *$380k
Median Condo Sold Price (6 mo): $402,950 ($405k, $403k, $403k, $405k) *$425k
Average Days on Market Condos: 10 (21, 21, 32, 19) *8
Active Vacant Lots: 401 (380, 369, 370, 377) *235
Largest inventory gain of the year so far, hitting the 300 mark for new additions this week! Sales also picked up momentum this week, with an above average week that looks closer to pandemic market numbers. Still shy of this time last year, but one of the healthiest sales week of the year so far, with the expectation that more are on the way! Surprisingly, however, was buyer activity this week. With these solid stats getting put up, you would think that there would be a momentum shift and things would carry on with increased buyer activity. Unfortunately, that does not seem to be the case, as we saw the reduction of conditional/pending properties around HRM this week, perhaps lending to a bit more discerning vision to current buyers. Although offer holds and buyer activity are still apparent, it would seem buyers are being a bit more selective with what they choose to set their sights on. When multiple offers do happen (which seems to be quite popular at the moment), the winning bid is not usually a number extremely over the asking price. The good thing the cooling market has brought is a bit of stabilization, so value can actually be measured.... to a degree. At this point, it is anyones guess how the year will turn out, but the numbers are pointing to normalcy. Still lots of market left this season, so stay tuned to the blog to stay informed! Thanks for stopping by!
The Weekly "Adogtable"
Hey doggy lovers! My name is Petunia, named after a flower because I am a delicate, beautiful, and strong. I am a one and a half year old Lab/Retriever mix girl weighing around 50 lbs. I came from Louisiana a few weeks ago. Now I am ready to find my forever home!
I am house trained. I have had a few accidents in my new foster daddy’s home, but we worked hard together and I am proud to say that I no longer use the washroom in the house. I love toys, whenever I get a chance I like to prove that no toy is indestructible. I sometimes need a cue if I am doing something mischievous and getting into things I shouldn’t be.
I was previously fostered in Louisiana with multiple dogs, while I was recovering from my surgery. I had no issues at all there. However, since being in Canada, I had a couple of incidents with my last 2 foster homes. I was fine for the first couple days but then I wasn't. I'm not sure what happened or why but I bit the resident’s dogs. This was not my proudest moment. I am now in a pet free foster home and should continue to be in one for my forever home. I don’t seem to have any issues playing with dogs outside as I have been playing with multiple dogs frequently outside. Although I think being muzzle trained would be ideal. I did see a cat and did not try to chase them but again pet free is ideal.
So about my surgery, I had a hip replacement which took some time to heal. But the good news is that I got the latest brand. Still working on getting used to it, that is probably why i sit funny sometimes or on walks I tend to pull. I am learning not to jump on people but I get so excited to see people I forget my manners.
I am not nervous around anyone. This is probably not a good trait cause I don’t know what stranger danger is. I do not bark at all. Actually, that is not true my foster daddy once caught me barking in my sleep but that’s about it. He was getting worried that I might have been mute. I’ll accept love in the form of pets anytime but my favourite thing is food. I am totally food motivated. I don’t even care if it’s edible.
I love the vet! I just went for a full check up and the place is like willy wonka chocolate factory. It’s pretty much unlimited treats, while they poked and prodded me but its totally worth it. I got a clean bill of health.
I love going for walks! 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, I love the front seat especially if you have heated seats, what can I say, I am a princess.
I’m a super cuddly gal that would love to lie on the couch with you or on top of you. My foster paw-rents gave me my own bed but I’d much rather be in theirs. I am also crate trained, you just have to point and say kennel. Most times I listen but I will always listen if you have food in your hand.
I am a really good girl who is looking for a home where I can be your one and only. If you think I am the girl for you, fill out an application today.
My adoption fee is a $500 donation to the rescue to help save more dogs like me. I am spayed, 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