The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: February 25th - March 4th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 236 (259, 229, 252, 214) *275
Sold: 198 (201, 187, 178, 171) *170
Sale To Listing Ratio: 78% (78%, 82%, 71%, 80%) *62%
Price Changes: 58 (62, 44, 70, 67) *55
Listings that went conditional/pending: 207 (237, 212, 240, 201) *193
Expired/Cancelled/Withdrawn: 46 (31, 30, 34, 54) *72
Total Active Halifax/Dartmouth Inventory: 859 (891, 912, 938, 972) +2,148
Absorption Rate in weeks: 5 (5, 5, 6, 7)*14
Single Family Home Stats
Active Single Family Home: 291 (306, 318, 335, 373) *1,102
Average Single Family Home List Price: $481,336 ($469k,$464k,$430k,$443k) *$323k
Average Single Family Home Selling Price: $507,481 ($491k,$484k,$445k,$454k) *$316k
Single Family Home Sale to List Ratio This Week: 105% (105%,104%, 103%, 103%) *98%
Median Single Family Home List Price (6 mo): $368,500 ($360k,$360k,$360k, $350k)*$313k
Median Single Family Home Sold Price (6 mo):$375,000 ($371k,$370k,$369k,$365k)*$309k
Average Days on Market Single Family Home: 38 (40, 33, 38, 39) *66
Active Condos: 107 (104, 100, 101, 101) *131
Average Condo Listing Price: $420,838 ($372k, $394k, $367k, $298k) *$323k
Average Condo Selling Price: $428,134 ($390k, $405k, $374k, $299k) *$316k
Condo Sale to List Ratio This Week: 105% (105%, 103%, 102%, 101%) 98%
Median Condo List Price (6 mo): $283,400 ($276k, $275k, $270k, $270k) *$250k
Median Condo Sold Price (6 mo): $289,950 ($279k, $279k, $275k, $272k) *$242k
Average Days on Market Condos: 118 (79, 79, 19, 50)*44
Active Vacant Lots: 364 (378, 393, 399, 394) *762
Wish I had better news to report for buyers, but the inventory is still headed in the opposite direction from annual trend unfortunately. Since the beginning of the year we have witnessed the slow reduction from the already decimated inventory numbers, only to see them continually drop week to week. Usually, we see more and more listings come to market as we hit the annual Spring peak, but at this rate, the Spring peak will look more like a ditch. Now, listings are coming to market, and it seems that listing activity has increased in the last couple of weeks, it's just not enough to make a dent in the buyer demand and change the outcome of the numbers...yet anyways. The hope is that this current crust of highly motivated buyers breaks away in the near future and resets the market to the late 2020 market as a first step. If that does happen, we should see a levelling in the activity and perhaps a slow crawl back towards a balanced market. If that doesn't happen, the already insanely competitive market will worsen, creating even more extreme activity and bidding. For now, at least, buyer fatigue has taken hold over many in the market, with frustration and disappointment at an all time high for some, especially in the $250-$350k bracket. So the hope is that Sellers will keep the listings coming and eventually tame the wildfire that is the Halifax real estate market. You'll have to stay tuned the blog to keep informed and see what the stats are saying! Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
I'm Gam Gam. I'm an 11 year old Husky/Shepherd mix weighing approximately 50lbs. I was in a shelter in Texas for a few months but had no luck finding a forever home so they brought me to Canada.
I was a little nervous when going to my new foster home, but warmed up to my new family very quickly! I love to go for walks except when it's raining, and am very curious about ANYTHING that’s happening around the neighborhood. Delivery men, people doing garbage, squirrels, BIRDS chirping, etc! I do pull as it's all so exciting, but I am getting better and my pulling is minimal. Sometimes I just want to sit and watch these things for awhile before we continue on. Especially birds, if given the chance I think it might be fun to chase them.
I have not met a kitty yet but considering my fascination with birds, it might not be a good idea. I met a puppy, at a friend's house, who tried to jump on my head, I snapped at him and he backed off. We just ignored each other the rest of the evening. I am curious about other dogs I see on walks but a quick look or sniff and I'm good to move on. My foster mom took me to a fenced in dog park, and I didn’t growl once! I even smelled a few other dogs. But for the most part, I ignored the doggies and wanted to see the humans. I'd probably be ok living with a very respectful dog who didn't see me as a trampoline and stayed out of my space but I think I'd be happiest being your one and only.
I've only had one accident inside the first night in my foster home. My foster momma takes me out 4 times a day to do my business.
I have no resource guarding with food. I will hang around for a little bit while you're eating waiting for something to hopefully drop on the floor but after a few minutes, I'll just go lie down. I do love my treats but who doesn't. I'm an eat when I want, not a feeding schedule kind of girl. My foster mom adds chicken broth to my food. Yummy!! My foster mom makes me these dog biscuits that are SOOO good! She said she will share her recipe with you if you adopt me. I also know that I shouldn’t eat food that isn’t given to me. So if you put food on the coffee table, I won’t eat it, especially if you say a gentle no!
I am great in the car. I climb into the backseat, stare out the window for a bit then just curl up and have a nap.The first night in my foster home I woke often to make sure that my human was still there and that I wasn’t alone. I sleep through the night now with no issues. I have two stuffies that I like to have with me by my bed, but I don’t play too much with them.
I have been left alone for short periods of time and I just fall asleep on the couch. I don't get into anything. I do follow my foster mom all around the house. I prefer to be with my people at all times so someone home more than not is ideal. I have not been crated in my foster parents home, and I don’t think that I need to be crated as I am such a good girl.
I don't know many commands other than no but I do know my name and love when you tell me that I'm a good girl. That gets me really excited and my tail circles around like a propeller. The only time I will bark is if someone rings the doorbell, and then I will bark once or twice until you tell me to stop, that it’s OK. I don’t bark at other dogs or people, and most people think that this means that I am a really good girl! My foster mom said that sometimes I will bark in my sleep, she thinks that is the dream where I am chasing those birds.
I am nervous at times with some sounds and quick movements and sometimes flinch with hand movements. I love to be pet especially my under my head and my belly. I'm a little more hesitant about you petting my back but am learning that it's not so bad. I love meeting new people but am cautious about them. Once I warm up to you, I will be your shadow.
I'd definitely prefer a more laid back, quiet household to spend my golden years in.
Are you my forever family?
My adoption fee is a 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! I also come with 6 weeks of insurance from PetSecure! You can apply for me at http://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 him and other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE
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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