The Halifax Real Estate Blog Weekly Market Rant and Statistics Update by Jeremiah Wallace of ViewPoint Realty: April 7th-14th, 2022
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 337 (386, 263) *450
Sold: 181 (199, 149) *316
Sale To Listing Ratio: 54% (52%, 57%) *70%
Price Changes: 54 (41, 18) *60
Listings that went conditional/pending: 266 (227, 200) *363
Expired/Cancelled/Withdrawn: 38 (55, 37) *50
Total Active Halifax/Dartmouth Inventory: 655 (675, 577) +1,025
Single Family Home Stats
Active Single Family Home: 245 (265, 215) *437
Average Single Family Home List Price: $503,735 ($502k, $499k) *$434k
Average Single Family Home Selling Price: $609,392 ($600k, $611k) *$496k
Single Family Home Sale to List Ratio This Week: 121% (120%, 122%) *114%
Median Single Family Home List Price (6 mo): $429,900 ($430k, $425k) *$380k
Median Single Family Home Sold Price (6 mo):$509,500 ($505k, $499k)*$400k
Average Days on Market Single Family Home: 7 (7, 9) *11
Active Condos: 52 (60, 37) *99
Average Condo Listing Price: $454,500 ($503k, $386k) *$339k
Average Condo Selling Price: $512,500 ($525k, $471k) *$366kk
Condo Sale to List Ratio This Week: 113% (104%, 122%) *108%
Median Condo List Price (6 mo): $374,900 ($370k, $370k) *$309k
Median Condo Sold Price (6 mo): $420,500 ($420k, $405k) *$321k
Average Days on Market Condos: 5 (29, 9) *66
Active Vacant Lots: 241 (242, 233) *369
Well that was short lived! After some good news for weary buyers out there last week, inventory has taken a step back and bucked the annual trend with a reported reduction this week. What seemed like a bit of light at the end of the tunnel has an all too familiar darkening around the exit, again. Spring usually sees the peak of inventory annually, and we should be well under way at this point, but we just can't seem to get off the starting blocks. Perhaps this week was a little slower due to the approaching long weekend, prompting sellers to wait that one extra week to hold their showing window. Easter weekend does tend to draw attention away from the market, a much needed reprieve for many. Another consideration is the amount of properties that changed listing status. A good amount of inventory hit the market last week, and most, if not all, received and accepted what I sure was multiple offers. Once that happens, listing status will change to "pending" or "conditional sale", removing the listing from the active inventory pile. There was a sizeable amount of listings that accepted an offer this week, contributing to the inventory report.
Values continue to creep up on a weekly basis, which was noted to happen due to the size of the overbids this year, the stats are just starting to catch up is all. The forecast is that the overbids should cool a bit once more inventory arrives, but with a few key groups not contributing to the annual inventory churn, the question is if we will get lift off at all. Might be an "all at once" sort of event, but I have the feeling it will be a more gradual return once some of the over the top pressure starts to wain. Only time will tell, so stay tuned to blog to stay on top of the market and stay informed! Thanks for stopping by!
The Weekly "Adogtable"
Hi everyone, my name is Jonah and I am a 1 year old, 10 pound Texan chi mix boy who recently made my way to Nova Scotia looking for my forever home. I was previously posted but some new, very important information about me has come to light that people need to know. You can read more about that below.
I recently went on a trial adoption but it didn't go well, a side of me surfaced that my rescuers hadn't seen before. You see, I used to be the chillest little guy but recently, the honeymoon stage has worn off and now I am very protective of my home space so much so that I will charge men and grab their pants and jump and grab their shirts even too. Being returned to my foster home, I'm still perfectly fine with my foster dad. However I'm also a little bit too interested in the kitty now and not as nice. So probably no kitties would be ideal. I will need a confident handler to get over my reactiveness. Confidence classes would most likely be beneficial for me too. Now that I've told you my Achilles heel, let's talk about all my good qualities.
I barely shed, which doesn't mean that I'm hypoallergenic. I love to play with my foster fur siblings (and neighbours, I’ve never met a dog here I didn’t like), so a fur sibling for me would be great. I could be happy in a home where I am the only dog as long as I have some furry friends to play at my disposal. I am not intimidated by other dogs, and have even won over my foster brother who apparently doesn’t always like other boys. I haven't met any kids and I don't think that would be wise until I get my attitude in check.
I am really not a fan of the cold, and it is hard for me to go bathroom out there sometimes, so I should learn how to use a pee pad (but I haven’t yet because my foster sibling keeps eating them). I still have accidents even on the nicer days so I still need work with house training which is possible with routine, structure, and patience.
I’m not really that shy, maybe just the first time we meet I will be a little bit, but when I feel at home I am goofy and cuddly and like Velcro – stuck right onto your lap. I love to snuggle in my foster mom’s arms while she works.
I walk well on a leash, though don’t always see the point of just going outside and walking around, when I could be running around the house with all my toys. My favourite toys are stuffies with crinkles in them, followed by small dog-safe chewies. I don’t guard my food or toys from the other dogs or cat.
Being a stray, you always worry about where your next meal is coming from. I am still getting used to not having to rummage around looking for food. If you give me the chance I will go through the garbage and climb up onto the dinner table looking for scraps. So keeping these things off limits to me is a must so I don’t accidentally ingest something I shouldn’t.
If you don’t want dogs on the furniture then I am not the dog for you: I love to snuggle, climb and cuddle wherever you are sitting. I insist on sleeping with you in bed and sharing your pillow. Sometimes I am a bit clumsy and fall off of furniture so I need help being safe.
I may not sleep my first night because of nerves, but once I feel comfy in my new home, that will be a non issue. I am a very good boy in the car, and when I hear “good boy” my whole face lights up 😊. So with lots of praise, I'm sure my couple of issues will be a thing of the past in no time.
Have you been looking for a fur friend like me?
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