The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: January 5th-12th, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 139 () *161
Sold: 49 () *68
Sale To Listing Ratio: 35% () *96%
Price Changes: 59 () *27
Listings that went conditional/pending: 65 () *112
Expired/Cancelled/Withdrawn: 50 () *15
Total Active Halifax/Dartmouth Inventory: 1,040 () *594
Absorption Rate in weeks: X
Single Family Home Stats
Active Single Family Home: 483 () *171
Average Single Family Home List Price: $525,000 () *$518k
Average Single Family Home Selling Price: $515,000 () *$544k
Single Family Home Sale to List Ratio This Week: 98% () *105%
Median Single Family Home List Price (6 mo): $460,000 () *$399k
Median Single Family Home Sold Price (6 mo):$460,500 ()*$440k
Average Days on Market Single Family Home: 41 () *13
Active Condos: 71 () *36
Average Condo Listing Price: $524,975 () *$557k
Average Condo Selling Price: $510,150 () *$555k
Condo Sale to List Ratio This Week: 97% () *99.7%
Median Condo List Price (6 mo): $395,000 () *$340k
Median Condo Sold Price (6 mo): $390,000 () *$352
Average Days on Market Condos: 53 () *30
Active Vacant Lots: 381 () *279
Starting out the new year with almost twice the amount of available options compared to this time last year, which is good news for buyers coming to market in 2023. Single family home options are driving the inventory upwards quickly, reporting almost three times more than this time last year. Condo's are in the same boat really, but the available numbers for condos are still rather low in comparison. Sluggish start in a few other areas as well. New listing additions are down, and so too are sales compared to last year. Buyer activity is reporting lower, and listings in general are hanging around on the market much longer than last year. With the pandemic market in the rear view, the six month median values have finally (almost) caught up with what has been happening since April of last year, confirming that the extreme overbidding on property is no longer a factor. Sure, there are still multiple offer situations in certain areas and price points, but they don't seem to be show-stopping amounts. The six month average listing prices, both single family home and condo, have held relatively steady in the last few months but their selling prices have been steadily falling until finally levelling off. With inventory on the rise and prices cooling, buyers have lost the appetite to get extremely competitive, especially since most buyers are aware of the sliding market and values. Going to be another interesting market year here in Halifax, and I have you covered. Stay tuned to the blog and stay informed! Thanks for stopping by!
The Weekly "Adogtable"
Hey doggy lovers! My name is Petunia, named after a flower because I am a delicate, beautiful, and strong. I am a one and a half year old Lab/Retriever mix girl weighing around 50 lbs. I came from Louisiana a few weeks ago. Now I am ready to find my forever home!
I am house trained. I have had a few accidents in my new foster daddy’s home, but we worked hard together and I am proud to say that I no longer use the washroom in the house. I love toys, whenever I get a chance I like to prove that no toy is indestructible. I sometimes need a cue if I am doing something mischievous and getting into things I shouldn’t be.
I was previously fostered in Louisiana with multiple dogs, while I was recovering from my surgery. I had no issues at all there. However, since being in Canada, I had a couple of incidents with my last 2 foster homes. I was fine for the first couple days but then I wasn't. I'm not sure what happened or why but I bit the resident’s dogs. This was not my proudest moment. I am now in a pet free foster home and should continue to be in one for my forever home. I don’t seem to have any issues playing with dogs outside as I have been playing with multiple dogs frequently outside. Although I think being muzzle trained would be ideal. I did see a cat and did not try to chase them but again pet free is ideal.
So about my surgery, I had a hip replacement which took some time to heal. But the good news is that I got the latest brand. Still working on getting used to it, that is probably why i sit funny sometimes or on walks I tend to pull. I am learning not to jump on people but I get so excited to see people I forget my manners.
I am not nervous around anyone. This is probably not a good trait cause I don’t know what stranger danger is. I do not bark at all. Actually, that is not true my foster daddy once caught me barking in my sleep but that’s about it. He was getting worried that I might have been mute. I’ll accept love in the form of pets anytime but my favourite thing is food. I am totally food motivated. I don’t even care if it’s edible.
I love the vet! I just went for a full check up and the place is like willy wonka chocolate factory. It’s pretty much unlimited treats, while they poked and prodded me but its totally worth it. I got a clean bill of health.
I love going for walks! I’ll sit at the door and wait to go out to do my business. I don’t mind going in the car with you, I love the front seat especially if you have heated seats, what can I say, I am a princess.
I’m a super cuddly gal that would love to lie on the couch with you or on top of you. My foster paw-rents gave me my own bed but I’d much rather be in theirs. I am also crate trained, you just have to point and say kennel. Most times I listen but I will always listen if you have food in your hand.
I am a really good girl who is looking for a home where I can be your one and only. If you think I am the girl for you, fill out an application today.
My adoption fee is a $500 donation to the rescue to help save more dogs like me. I am spayed, vaccinated, microchipped, come with a 6-week trial of pet insurance from PetSecure and 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 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