The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of Viewpoint Realty: August 12th - 19th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 227 (203, 205, 252, 311) *334
Sold: 183 (177, 178, 187, 208) *250
Sale To Listing Ratio: 80% (87%, 87%, 74%, 67%) *75%
Price Changes: 61 (52, 74, 57, 54) *116
Listings that went conditional/pending: 216 (221, 182, 228, 242) *274
Expired/Cancelled/Withdrawn: 49 (42, 64, 65, 49) *56
Total Active Halifax/Dartmouth Inventory: 1,188 (1,202, 1,224, 1,225, 1,211) +1,830
Absorption Rate in weeks: 7 (6, 7, 6, 6) *8
Single Family Home Stats
Active Single Family Home: 482 (487, 500, 495, 485) *916
Average Single Family Home List Price: $428,667 ($419k,$421k,$457k,$434k) *$402k
Average Single Family Home Selling Price: $468,990 ($445k,$452,$500k,$474k) *$408k
Single Family Home Sale to List Ratio This Week: 109% (106%,108%,109%,109%) *101%
Median Single Family Home List Price (6 mo): $379,900 ($379k,$380k,$389k,$386k$335k
Median Single Family Home Sold Price (6 mo):$435,800 ($435k,$436k,$437k,$435k)*$338k
Average Days on Market Single Family Home: 12 (12, 11, 10, 12) *41
Active Condos: 87 (94, 95, 105, 107) *164
Average Condo Listing Price: $337,929 ($300k, $372k, $337k, $384k) *$249k
Average Condo Selling Price: $352,909 ($318k, $392k, $353k, $406k) *$257k
Condo Sale to List Ratio This Week: 104% (106%, 105%, 105%, 105%) *104%
Median Condo List Price (6 mo): $318,950 ($310k, $320k, $320k, $320k) *$270k
Median Condo Sold Price (6 mo): $345,000 ($350k, $350k, $349k, $350k) *$270k
Average Days on Market Condos: 13 (28, 17, 21, 25) *17
Active Vacant Lots: 472 (467, 470, 475, 467) *585
Bit of a ho-hum week this week as we head to the end of August and closer to the end of Summer. New listings bumped a touch, and sales reported marginally higher this week as well resulting in an average sales to list ratio report. With the overall inventory continuing to diminish after a very low annual peak thus far, the big question on everyones mind is if there will be more inventory in the Fall? For the most part, the Summer tends to be one of the slower market times, then there is a small pick-up in inventory and sales, then tapers off again until the holiday season. If we are starting to realign with annual trend then we should see the inventory gain a touch, and fewer buyers on the search. The gain of inventory is a direct match to demand, so it will really depend on the buyer activity and how it sustains. There is definitely a tapering of this activity, but has yet to be turned down to a level that would allow the inventory to climb. As mentioned in previous posts, listings that have been priced correctly, and present in good condition do tend to be the most popular, and it shows. Many of these listing still find themselves with a train of buyers parading through the showing window week, receiving multiple offers, and selling for much higher than list. Look to the stats to pick up next month in key areas, even if temporary, but also look to the long running stats (6 month medians etc), to monitor their slippage. Interesting times indeed, so if you are in the market, or just interested, keep an eye on the blog to stay informed! Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
Hi guys! My name is Roxie and I'm a 1 year old American Stafffordshire girl weighing around 50lbs! I came from Louisiana a few weeks ago but now it's time to find my forever!
One of my most favourite activities in the whole wide world is meeting and playing with dogs! I am best to do this in a fenced in area because sometimes I can get more worked up being held back by the leash but I can't help it I'm just so excited for friends!
I'm still a puppy and full of energy but if there are no dogs to distract me I am excellent walking on leash or even going for a light jog if I do say so myself!
I will also be very happy meeting new people and will want to greet complete strangers on walks or at the park with a wagging tail. I haven't met any kids or cats so I'm not sure what to think of them.
I am very gentle when taking treats and am excellent if I must stay home alone while my human-folk are off at work. I'm still learning recall and basic commands (sit, stay, come) but when there are no distractions around me I'm a pretty quick learner!
I don’t like loud objects such as weed whackers, musical instruments (guitars, drums, piano), fireworks, and power tools. I'm fine with calmer music playing but the really loud things make me nervous.
I love being outdoors in any way but will also easily relaxes while indoors. Despite being 50 pounds, im still confident I can fit myself on your lap or I will at least try to get as close to my humans as I can!
I'm good in the car because I know it usually means we are going on a new adventure. Baths really aren't my favorite thing but I'll tolerate it so we can both move on.
The housetraining is still a work in progress, however, I might just have an accident every few days now so with patience and continued consistency I know I'll figure it out soon!
Do you think we'd be a good match?
My adoption fee is a $400 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!
This "cuddly companion" is available through Save a Life Canada 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
LET ME HELP YOU OUT!
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!
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Newest Blog post HERE
Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah