The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: December 10th-17th, 2020
101(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 200 (193, 229, 250, 230) *103
Sold: 168 (178, 194, 229, 230) *109
Sale To Listing Ratio: 84% (92%, 85%, 92%, 100%) *106%
Price Changes: 43 (48, 72, 88, 88) *30
Listings that went conditional/pending: 189 (159, 215, 208, 242) *111
Expired/Cancelled/Withdrawn: 54 (37, 123, 37, 62) *85
Total Active Halifax/Dartmouth Inventory: 1,306 (1,347, 1,360, 1,492, 1,472) +2,308
Absorption Rate in weeks: 7 (6, 6, 7, 7) *18
Single Family Home Stats
Active Single Family Home: 553 (579, 575, 653, 652) *1,139
Average Single Family Home List Price: $421,037 ($414k,$398k,$400k,$416k) *$338k
Average Single Family Home Selling Price: $418,251 ($423k,$403k,$403k,$418k) *$333k
Single Family Home Sale to List Ratio This Week: 99% (102%,101%,101%,101%) *99%
Median Single Family Home List Price (6 mo): $349,900 ($350k,$350k,$349k,$350k)*$315k
Median Single Family Home Sold Price (6 mo):$358,000 ($355k,$355k,$355k,$354k)*$308k
Average Days on Market Single Family Home: 51 (46, 36, 35, 38) *80
Active Condos: 117 (125, 130, 135, 123) *169
Average Condo Listing Price: $313,216 ($286k, $385k,$378k, $299k) *$301k
Average Condo Selling Price: $316,420 ($285k, $377k, $369k, $294k) *$292k
Condo Sale to List Ratio This Week: 101% (99%, 98%, 97%, 98%) 97%
Median Condo List Price (6 mo): $269,900 ($270k, $270k, $270k, $270k) *$245k
Median Condo Sold Price (6 mo): $270,000 ($270k, $270k, $272k, $270k) *$239k
Average Days on Market Condos: 34 (17, 31, 28, 71)*47
Active Vacant Lots: 510 (505, 513, 551, 547) *826
Almost 1000 less products on the market for sale this year compared to last, needless to say, we have hit new lows. A measly 553 single family homes are listed for sale at the moment, while at this time last year there was 1,139. This should make for an interesting launch in the new year. Usually, January sees remnant activity from the previous year spark back up again for a good portion of the month, then wane when the snow flies, but as I type this, that is already happening and unless something drastic happens the sellers market will dominate the new year! With 2020 being a market year that no one could have predicted, it only makes sense that we start out the new year in uncharted territory, and vague projections. Fairly surprising number of new listings this week, almost double from last year, so I suspect buyers will be watching this stat with great interest to see if this listing trend will carry into the new year. It does seems that more and more listings are finally making their way to the market, although demand is so strong that it's hardly noticed. Eventually, I suspect that this activity will be noticed once the turn has happened, but for now, buyer activity is relentless so new listings will continue to be gobbled up!
Last notable from the week is the jump in single family six month median prices. Listing prices held fast, but the median single family home sale prices had their largest leap since the Summer, coming up $3,000 in a single week. This stat has stalled for the the last couple of months, and there almost seemed to be a notice of change with a couple weeks or marginal reduction, however, this jump has indicated the opposite in a big way. This jump also puts SFH median sales exactly $50,000 over last year at this time, and also suggests that on average, listed properties are selling at least $9,000 over asking price. Of course, we have seen this vary significantly, latest high being $130k over the asking. That's a significant increase. .
With 2020 almost in the rear view, there will be a lot of data to review and analyze. There will also be a lot of momentum that swings into 2021, so be sure to stay tuned to the blog to keep up to date with our market. Thanks for stopping by, and stay safe our there!
I just wanted to wish all my clients (past, present and future), friends, family and readers of the blog a very Merry Christmas and Happy New Year! The weekly market rant will return in 2021, with the 2020 market year summary! Be sure to stop by, you will not want to miss it!
The Weekly Adogtable!
My name is Macy and I am a 6 year old Rottweiler/mastiff mix girl weighing around 90lbs. I was a local surrender and have been waiting over 4 months to find my forever home so I'm ready!
I am good with adults and kids but I can get over excited and knowing my size could easily knock over little ones by accident. I had a cat with me in a home and we did okay but anything quick moving outside I will pull as hard as I can to go see them. I have seen dogs from a distance and will growl and lunge and pull to get to them so I am looking to be the only dog in the home and also make sure my family can handle my strength.
I'm good on my leash when no distractions are around but have a hard time focusing when other animals go by. I am learning recall and will answer to my name and come immediately, again without distractions like animals and people.
I am very energetic, I just had my ACL fixed and it does not slow me down one bit anymore. Since my recovery, I am getting very close to be able to run and dash with no more cracking coming from my back leg. I can also definitely be a couch potato just as much of a snuggle bug and play once I'm comfortable with someone. I had two incident inside the house while with foster dad but never again.
Foster dad will brush my teeth, clip my nails and clean my ear and I just sit there without complaining, other than occasionally pulling my paw back. I am good in the car and I'm learning baths aren't scary either. I don’t really love being left alone but will be fine with it. I don't chew anything I'm not supposed to so don't need to be crated and if I'm being honest I really don't like them.
I do not touch tables or counters but will eat whatever you give me. Toys are now fun ! I have learned to play with chew toys, chase balls and play tug. I will answer to sit, down, paw, wait, up and look and will turn on my belly every time I'm laying down to ask for a belly rub.
Are you my forever home?
My adoption fee is a $350 donation to help save more dogs like me. I am spayed and microchipped, and I have all my doggy papers to come home to you! You can apply for me at
This "cuddly companion" is available through Save a Life Canada Animal Rescue Society, 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
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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah