The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: August 8th-15th, 2024

Previous weeks numbers in brackets)

*Previous Year's Stats​

Total Market
New/Back to Market Listings: 278 (220, 200, 264, 258) *200
Sold:  139  (123, 138, 139, 135) *134
Sale To Listing Ratio: 50% (56%, 69%, 61%, 61%) *67%
Price Changes: 158 (110, 115, 112, 112) *106
Conditional Sale: 176 (137, 169, 188, 189)  *146
Expired/Cancelled/Withdrawn: 53 (83, 70, 40, 41) *53
Total Active Halifax/Dartmouth Inventory:  1,792 (1,758, 1,747, 1,751, 1,738) *1,369
Absorption Rate: 12 (13, 12, 12, 12) *10

Single Family Home Stats
Active Single Family Home: 890 (885, 875, 881, 870) *675
Average Single Family Home List Price:  $601,363 ($623k, $630k, $592k, $602k) *$611k
Average Single Family Home Selling Price:  $602,958 ($626k, $627k, $590k, $603k) *$616k
Single Family Home Sale to List Ratio This Week: 101% (101%, 99%, 99%, 101%) *101%
Median Single Family Home List Price (6 mo): $569,900 ($569k,$569k,$576k,$565k) *$535k
​Median Single Family Home Sold Price(6 mo):$570,000 ($570k,$570k,$568k,$568k)*$545k
Average Days on Market Single Family Home: 26 (26, 32, 30, 31) *29

Condo Stats
Active Condos:  137 (126, 124, 133, 130) *109
Average Condo Listing Price:  $424,657 ($400k, $451k, $497k, $537k) *$468k
Average Condo Selling Price: $420,307 ($404k, $456k, $492k, 531k) *$473k
Condo Sale to List Ratio This Week: 99% (101%, 101%, 99%, 98%)  *101%
Median Condo List Price (6 mo): $439,900 ($440k, $440k, $440k, $440k) *$425k
Median Condo Sold Price (6 mo): $439,000 ($440k, $440k, $440k, $440k) *$425k
Average Days on Market Condos: 13 (27, 25, 45, 40) *25

Active Vacant Lots: 529 (510, 521, 515, 512) *421

Market Rant
​​the Halifax real estate market is navigating an interesting period of dynamic change, marked by a delicate interplay of supply and demand, price adjustments, and evolving buyer behaviours. The resilience of the single-family home segment, with its consistent sales and slightly elevated prices, underscores the continued desirability of these properties. Despite minor fluctuations, the unwavering strength in the sale-to-list ratio highlights the competitive nature of the market, where well-positioned homes are snapped up quickly.

The condo market, with its recent surge in activity and reduced days on market, suggests a growing appeal among buyers, possibly driven by changing lifestyle preferences or shifts in affordability. The stable median prices reflect a market that, while experiencing some volatility, remains fundamentally strong and attractive to a wide range of buyers.

As we look at the broader market trends, the increase in active listings and price changes suggests that sellers are becoming more attuned to the realities of the market, leading to strategic pricing decisions that better align with buyer expectations. The rise in active vacant lots could be a harbinger of future development or a sign of slower sales in that segment, adding another layer of complexity to the market.

Overall, the Halifax real estate market is exhibiting a vibrant and adaptable character, poised at the intersection of stability and transformation. While the immediate future may bring further adjustments, the underlying strength of the market, coupled with the increasing inventory, positions Halifax as an attractive and resilient market for both buyers and sellers alike. As the market continues to evolve, it remains a compelling arena where opportunities abound, shaped by a blend of historical resilience and a forward-looking plan. 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 him 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!

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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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