The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty; January 6th-13th, 2022
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 161 (117) *189
Sold: 68 (112) *98
Sale To Listing Ratio: 96% (96%) *52%
Price Changes: 27 (26) *51
Listings that went conditional/pending: 112 (123) *181
Expired/Cancelled/Withdrawn: 15 (35) *67
Total Active Halifax/Dartmouth Inventory: 594 (706) +1,075
Absorption Rate in weeks: X (5) *7
Single Family Home Stats
Active Single Family Home: 171 (192) *441
Average Single Family Home List Price: $517,536 ($494k) *$469k
Average Single Family Home Selling Price: $543,656 ($529k) *$465k
Single Family Home Sale to List Ratio This Week: 105% (107%) *99%
Median Single Family Home List Price (6 mo): $399,000 ($394k) *$350k
Median Single Family Home Sold Price (6 mo):$440,000 ($436k)*$360k
Average Days on Market Single Family Home: 13 (22) *59
Active Condos: 36 (44) *98
Average Condo Listing Price: $557,400 ($387k) *$328k
Average Condo Selling Price: $555,803 ($409k)) *$325k
Condo Sale to List Ratio This Week: 99.7% (106%) *99%
Median Condo List Price (6 mo): $339,900 ($325k) *$263k
Median Condo Sold Price (6 mo): $352,000 ($343k) *$270k
Average Days on Market Condos: 30 (73) *119
Active Vacant Lots: 279 (353) *430
Active inventory woes continue to plague the city, and so far 2022 is kicking off the year right where 2021 left off with plummeting numbers. Usually, January signals two events for our market. The first one being the low point of the year for overall activity, but also the commencement of the market push. No doubt there are many folks doubling down on this years market in hopes we see a huge surge of listings come to market, but many more are skeptical that the damn will break this year. This lack of inventory has caused the buyer pool to grow again, and most listings in HRM that do come to market may find themselves a bit surprised by the amount of interest right now. With only 36 active condos and 171 active single family homes, its no wonder every new listing is so competitive. Sales and agreements still dredge the market floor, reporting solid numbers for the vacancy of options out there at the moment. This continued snatch up fails to give overall numbers a chance to increase, fanning the flames of this red hot market. To make things even more challenging, the continued pressure on the Halifax housing market has pushed values again, adding a few extra holiday pounds to the already inflated numbers. Looking for a visual of just how far we have come in the last couple of years? Simply scroll down to read the yearly stats round up for 2021, it may surprise you. Thanks for stopping by!
The Weekly "Adogtable"
"Can you tell how excited I am to meet you?!"
Miss Keeta can always be seen greeting people with a big grin and butt wiggles! She absolutely loves her people and will make a great heater for the winter. Keeta is a smart girl that would benefit from someone who will continue to teach her new tricks to stimulate her mind, especially during her recovery.
Keeta had major orthopedic surgery on Nov 23 (TPLO) so will require a very specific rehab regiment for the next several weeks. Keeta has been a rockstar through this transition and proves every day how determined she is. Additional information and support will be given in advance to taking her home.
It is important to note that Keeta has displayed resource guarding at the shelter, though this is a manageable behavior potential adopters will want to do their research in order to determine if it is the right fit for them.
Interested in adopting? Please review our new adoption process here: https://www.novascotiaspca.ca/adoptionprocess/
This "cuddly companion" is available through the Nova Scotia SPCA, 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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Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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