The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: April 25th - May 2nd, 2024

Previous weeks numbers in brackets)

*Previous Year's Stats​

Total Market
New/Back to Market Listings: 321 (276, 323, 266, 227) *290
Sold:  158  (169, 145, 117, 120) *153
Sale To Listing Ratio: 49% (61%, 45%, 44%, 53%) *53%
Price Changes: 103 (86, 72, 64, 64) *82
Conditional Sale: 171 (159, 196, 173, 120)  *177
Expired/Cancelled/Withdrawn: 58 (39, 49, 56, 75) *43
Total Active Halifax/Dartmouth Inventory:  1,501 (1,435, 1,398, 1,338, 1,345) *1,271
Absorption Rate: 10 (10, 11, 11, 11) *10

Single Family Home Stats
Active Single Family Home: 745 (696, 696, 668, 676) *637
Average Single Family Home List Price:  $633,630 ($660k, $672k, $629k,$569k) *$649k
Average Single Family Home Selling Price:  $640,981  ($666k,$679k,$634k, $577k) *$653k
Single Family Home Sale to List Ratio This Week: 101%  (101%, 101%, 101%, 101%) *101%
Median Single Family Home List Price (6 mo): $549,900 ($550k,$540k,$530k,$525k) *$500k
​Median Single Family Home Sold Price(6 mo):$549,850 ($548k, $541k, $530k, $526k)*$500k
Average Days on Market Single Family Home: 26 (32, 45, 42, 45) *26

Condo Stats
Active Condos:  125 (112, 114, 116, 121) *98
Average Condo Listing Price:  $440,454 ($480k, $464k, $476k, $466k) *$540k
Average Condo Selling Price: $449,440 ($486k, $467k, $478k, $461k) *$442k
Condo Sale to List Ratio This Week: 102% (101%, 101%, 101%, 99%)  *82%
Median Condo List Price (6 mo): $429,900($434k, $429k, $434k, $438k) *$400k
Median Condo Sold Price (6 mo): $429,000 ($430k, $429k, $429k, $429k) *$405k
Average Days on Market Condos: 11 (11, 25, 25, 25) *22

Active Vacant Lots: 459 (431, 415, 396, 386) *405

Market Rant
With the Spring market in full swing here in Halifax, activity overall is positive, with big gains in all tracked product inventory this week. Oddly enough, one of the fastest growing inventory products are vacant lots. All over HRM, especially in rural areas, vacant lots continue to pop up each week, wether it is from developers shedding some weight, or private owners looking to offload the acres sitting dormant for years. Either way you slice it, the last 4 weeks has seen an unusually high increase in such a short time. Another stat to note was price changes, cresting 100 this week, which has to be the largest number of price changes in a single week since before the pandemic. A quick look at the change sheet, and they are all reductions, which gets back to classic property marketing vs the uptick revision that trended during the pandemic. Basically, while the market was in such an unpredictable and changing state, a property was sometimes listed at or just below market value to get multiple offers, in an attempt to drive the purchase price well over the asking price. When that didn't happen, sellers sale price expectations were not met, so prices sometimes adjusted upwards to where the sale "want" price was. That trend was very popular in 2022/23 while prices cooled, especially in certain areas of the city. You do see this happen from time to time these day, but it's definitely not as often now, even compared to the beginning of the year. Prices continue to stabilize across HRM, and although there was an uptick in values in the first quarter, the anticipation is that there will be some softening in the second. Time will tell and I have you covered, so be sure to stay tuned the blog to stay on top of the Halifax market! Thanks for stopping by! 

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The Weekly "Adogtable"

This "cuddly companion" is available through Good Bones Dog Rescue, 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

​Looking to help?

Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help!

Good Bones Dog Rescue
​Nova Scotia SPCA 
Bide Awhile Animal Shelter
Halifax Veterinary Hospital

If you have a suggestion to be added to the support list, do not hesitate to contact me!

LET ME HELP YOU OUT!
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​Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to contact me with questions or comments. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Don't forget to bookmark my page, and visit often!

VIEWPOINT REALTY

Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!

Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.


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