The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: February 11th-18th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 229 (252, 214, 219, 178) *255
Sold: 187 (178, 171, 163, 133) *132
Sale To Listing Ratio: 82% (71%, 80%, 74%, 75%) *52%
Price Changes: 44 (70, 67, 109, 67) *59
Listings that went conditional/pending: 212 (240, 201, 218, 152) *206
Expired/Cancelled/Withdrawn: 30 (34, 54, 38, 35) *49
Total Active Halifax/Dartmouth Inventory: 912 (938, 972, 1,025, 1,052) +2,137
Absorption Rate in weeks: 5 (6, 7, X, X) *17
Single Family Home Stats
Active Single Family Home: 318 (335, 373, 398, 437) *1,102
Average Single Family Home List Price: $463,759 ($430k,$443k,$493k,$435k) *$345k
Average Single Family Home Selling Price: $483,669 ($445k,$454k,$501k,$439k) *$341k
Single Family Home Sale to List Ratio This Week: 104% (103%, 103%, 101%, 101%) *99%
Median Single Family Home List Price (6 mo): $359,900 ($360k, $350k,$350k,$350k)*$315k
Median Single Family Home Sold Price (6 mo):$369,900 ($369k,$365k,$365k,$360k)*$310k
Average Days on Market Single Family Home: 33 (38, 39, 39, 40) *75
Active Condos: 100 (101, 101, 103, 98) *135
Average Condo Listing Price: $393,764 ($367k, $298k, $312k, $386k) *$333k
Average Condo Selling Price: $404,868 ($374k, $299k, $311k, $390k) *$323k
Condo Sale to List Ratio This Week: 103% (102%, 101%, 99%, 101%) 97%
Median Condo List Price (6 mo): $275,000 ($270k, $270k, $269k, $265k) *$250k
Median Condo Sold Price (6 mo): $278,500 ($275k, $272k, $272k, $270k) *$242k
Average Days on Market Condos: 79 (19, 50, 109, 41)*43
Active Vacant Lots: 393 (399, 394, 410, 411) *754
Midway through February, and things are not looking good for Buyers so far this year. Yet another week of inventory reduction, despite the false sense that more options are hitting the market. It does seem that more selection hit the streets this week, and the hope is that the trend will continue as the new weekly listings chip away at the buyer surge until a balance can be found. Until then, it will continue to be dog eat dog out there, and the hope from weary buyers is that there will be a wakening of sellers looking to take advantage of the market who list their homes. The problem with that hope is that these sellers will need somewhere to go, and with the market here in Halifax being as competitive as it is, there doesn't seem to be an enticement for these sellers to enter the market. "If I sell high, I buy high too", so for the average home owner looking to make their move into another area, or perhaps a slightly larger home, the lustre of maximizing profit on their current residence fades when looking at the options and available selection. Under half of the inventory we had last year at this time, yet sales and accepted offers best the stats for last year at this time, which is simply remarkable. Keep an eye out to see how things shape up this Spring. Will a lifeline of much needed property listings come to market, or will it continue to be a barren listing landscape? Stay tuned to the blog to stay on top of this dynamic market, cause you never know where it will go next! Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Hi Angels, I'm Eloise, a 1 year old, terrier mix, 8lb girlie. My 3 brothers and I were found as strays in Louisiana. Multiple attempts to contact our parents were ignored so we came to Nova Scotia in search of a new, better life.
On average, it takes 100 shares and 100 likes for a dog to find a home! Please share my story so my forever family will find me!?!
I'm good with small dogs. Bigger ones scare me. I haven't met a cat since arriving here. I'm very nervous around kids, they're quite rambunctious. I'm a very timid little girl and have bitten out of fear so an adult only home would be ideal. I will growl first when I'm scared so someone who can respect my signals and give me my space is ideal. It took me a little
longer to warm up to my foster dad than my foster mom but once I do, you'll see my amazing personality shine through and will see that I'm super affectionate. I am slowly learning to trust, I just need your patience.
I am low-med energy and am pretty good on leash but I find even with my coat on that it is very cold here so I usually end up being carried for most of my walk.
l am still working on house training but I'm almost a pro. I'm quite food motivated so I get a treat everytime I do my business outside and I love that.
I'm very good in the car. I do ok home alone with my doggy foster siblings uncrated. I'm still a puppy so I like to chew but will chew on bones and chews if you give them to me. I like to play with toys in moderation. I am good in the bath.
I sleep in my foster parents bed and I love to snuggle. I like lounging in my dog bed with my toys that I drag into it too. I follow my foster parents around alot so would really like a home where someone is home more often than not.
My ideal home would be a quiet family, who has the patience to let me come out of my shell and help me build my confidence slowly.
If you feel you are the right family to help build my confidence, let my rescuers know!!
My adoption fee is a $400 donation to help save more dogs like me. I am spayed, vaccinated and microchipped, and I 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 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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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