The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of Viewpoint Realty: December 2nd-9th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 163 (118, 147, 151, 183) *193
Sold: 141 (143, 159, 129, 169) *178
Sale To Listing Ratio: 87% (121%, 108%, 85%, 92%) *92%
Price Changes: 26 (38, 42, 34, 30) *48
Listings that went conditional/pending: 141 (169, 168, 136, 171) *159
Expired/Cancelled/Withdrawn: 48 (57, 24, 36, 46) *37
Total Active Halifax/Dartmouth Inventory: 762 (778, 877, 909, 916) +1,347
Absorption Rate in weeks: 5 (5, 6, 6, 6) *6
Single Family Home Stats
Active Single Family Home: 226 (239, 282, 297, 311) *579
Average Single Family Home List Price: $443,421 ($475k,$469k,$450k,$469k) *$414k
Average Single Family Home Selling Price: $482,569 ($522k,$508k,$496k,$506k) *$422k
Single Family Home Sale to List Ratio This Week: 109% (110%,108%,110%,108%) *102%
Median Single Family Home List Price (6 mo): $389,900 ($340k,$340k,$390k,$340k) *$350k
Median Single Family Home Sold Price (6 mo):$436,000 ($437k,$437k,$437k,$436k)*$355k
Average Days on Market Single Family Home: 18 (19, 22, 15, 20) *46
Active Condos: 54 (49, 61, 60, 56) *125
Average Condo Listing Price: $384,205 ($346k, $382k, $351k, $435k) *$286k
Average Condo Selling Price: $412,615 ($370k, $405k, $377k, $429k) *$284k
Condo Sale to List Ratio This Week: 107% (107%, 106%, 107%, 99%) *99%
Median Condo List Price (6 mo): $325,000 ($325k, $325k, $325k, $325k) *$270k
Median Condo Sold Price (6 mo): $341,000 ($340k, $341k, $341k, $348k) *$270k
Average Days on Market Condos: 16 (13, 33, 8, 13) *17
Active Vacant Lots: 364 (372, 404, 416, 416) *505
A surprising amount of new inventory additions this week, but I don't think you will hear any complaints from the weary buyers out there. New additions did seem to drag in the last couple of weeks, which sent the sales to list ratio way over annual averages, but with this weeks report, the balance has returned. Buyer activity is still strong at the moment, but with the limited inventory and time of year, most engaged in the current market have noticed a bit of a lull. Single family home averages took a hit this week, but Condo prices saw quite the opposite with a sustained value report. This time of year does tend to lend to odd reports and anomalies that do not represent the overall yearly market, but there are several factors during this time of year that account for that. Sometimes we get a ton of snow dumped on the city, sometimes there are holidays, sometimes there is simply nothing on the market for many buyers, and sometimes there is just no explanation for the market being ghosted by buyers. With the biggest holiday season on the horizon however, it does influence the market activity annually. It just seems to stand out a bit more this year with the level of uncertainty we are headed into 2022 with. All eyes on the new year at this point, and the Halifax Real Estate Blog has you covered, so be sure to stop by, or reach out if you have any questions! Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
This big guy is hoping to find a new home with a large fenced in yard to run around. A high energy boy, mental stimulation will be very important as well. Bronny can startle easily with new people and unfamiliar situations so showing him lots of patience and allowing him to move at his own pace will help him to gain confidence and he will be your best bud forever..
Our hours of operation can be found here: https://www.novascotiaspca.ca/shelters/dartmouth-shelter/
You can find out more about our adoption process here:
Fill out an application here: https://www.novascotiaspca.ca/dog-adoption-application/
This "cuddly companion" is available through the Nova Scotia SPCA, 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