The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: January 7th-14th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 189 () *229
Sold: 98 () *76
Sale To Listing Ratio: 52% () *33%
Price Changes: 51 () *51
Listings that went conditional/pending: 181 () *137
Expired/Cancelled/Withdrawn: 67 (37, 123, 37, 62) *51
Total Active Halifax/Dartmouth Inventory: 1,075 () +2,156
Absorption Rate in weeks: X () *X
Single Family Home Stats
Active Single Family Home: 441 () *1,088
Average Single Family Home List Price: $469,230 () *$365k
Average Single Family Home Selling Price: $464,667 () *$353k
Single Family Home Sale to List Ratio This Week: 99% () *97%
Median Single Family Home List Price (6 mo): $349,900 ()*$315k
Median Single Family Home Sold Price (6 mo):$360,000 ()*$309k
Average Days on Market Single Family Home: 59 () *65
Active Condos: 98 () *142
Average Condo Listing Price: $328,435 () *$289k
Average Condo Selling Price: $325,171 () *$287k
Condo Sale to List Ratio This Week: 99% () 99%
Median Condo List Price (6 mo): $262,450 () *$250k
Median Condo Sold Price (6 mo): $270,000 () *$240k
Average Days on Market Condos: 119 ()*69
Active Vacant Lots: 430 (505, 513, 551, 547) *773
And we are back! 2021 picks up right where 2020 left off... a challenging market for Buyers and a great market for Sellers. Usually January starts with a bit of a hop with the leftover activity from the previous year resuming to finish up their transaction, then wains once the snow flies, but the demand is so high for property that I would be surprised if we even enter the late winter blues market at all. The bones have almost been picked clean as buyers take a look around and see a measly 1,075 products on the market (all categories combined), which is down 50% from this time last year. The entire HRM only has 441 single family homes for sale right now, and that's across all price brackets in all areas!
Values continue to push across the board as well, with single family home values entering 2021 with a record breaking week to kick things off. Both sales to list ratios hit below the 100% mark, but the real story can be found in the median prices, as they are reflecting the true nature of the market by pulling data from six months. That picture is a bit different from the weekly snapshot, and shows that both tracked products, on average, are selling 8-10k over list price. This is just the average for a broad brush application, if you were to dig into the market in certain areas and property price brackets you will see extreme variations in sales amounts. Still, as this market carries on, prices continue to inflate as demand drives these sales to historic heights.
Will this be the year that things turnaround, or are we in for yet another Sellers year? You'll have to stay tuned to the blog to find out and keep up to date with how the market tracks! Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
I'm Manji. I am a 1yr old Catahoula mix boy weighing in at approximately 50lbs. I was surrendered to a shelter in Louisiana because my family didn't have time for me and kept me crated 24/7. So I decided to come to Nova Scotia with a few friends in search of a forever home.
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 am much more than a Southern boy with fancy markings, I am a dog that is all about my people! My markings and awesome webbed feet are from my Catahoula side of the family, the official state dog of Louisiana. I am highly intelligent and energetic and am certainly eager to please. I would do amazingly well with an active family who is preferably breed experienced.
I would probably be best suited for older kids as I still have alot of puppy antics to work on… but with my willingness to please they say I have a lot of potential! I know quite a few commands but I still need some training as my attention span isn't always the best. A few treats and alot of praise and I should be a breeze to train.
I did interact with cats at my foster home and was gentle, however when they ran I was quick to chase..but they were always too fast for me to catch. I had 2 doggy siblings in my foster home. We got along for the most part. I did have a squabble with one over a toy and the other I got a little jealous over one day and did not act like the perfect gentleman I should have. Other than that my interactions with other canine friends have been positive.
My exercise needs would be medium-high but my cuddling needs are very high. With a human as my pack leader I walk like a champ, always keeping a close eye on you when walking right beside you, sometimes so close that sometimes you might trip over me...oops sorry. I am super fast.. and not too bad on recall.
I love the car, so much so that sometimes I jump right in the front passenger seat.
I am a social bug and love meeting new people but sometimes I just get so excited I jump right up on them. My foster dad says that's a big no-no and we're working on this. I am housebroken and love a comfy warm bed, being a southern dog who can blame me! Still being a young dog I need to have access to some chew toys..and I also like to cuddle with plush toys.. but they may end up being a chew toy at some point. I also love tennis balls.
Being in a crate for so much of my short life, I definitely prefer to sleep near my person and not in one. I can pretty much sleep in any position. They say I'm a complete bed hog, I say they just need a bigger bed.
Are you my forever family?
My adoption fee is a $400 donation to help save more dogs like me. I am neutered, vaccinated and microchipped, and I have all my doggy papers to come home to you! You can apply for me at https://www.salcars.ca/adopt
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
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