The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: July 14th-21st, 2022
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 295 (351, 254, 315, 356) *252
Sold: 159 (156, 146, 181, 192) *187
Sale To Listing Ratio: 54% (44%, 57%, 58%, 54%) *74%
Price Changes: 97 (105, 92, 130, 112) *74
Listings that went conditional/pending: 176 (205, 161, 235, 206) *228
Expired/Cancelled/Withdrawn: 43 (46, 94, 58, 56) *65
Total Active Halifax/Dartmouth Inventory: 1,307 (1,284, 1,198, 1,167, 1,178) +1,225
Absorption Rate in weeks: 8 (8, 7, 6, 6) *6
Single Family Home Stats
Active Single Family Home: 664 (647, 604, 591, 587) *495
Average Single Family Home List Price: $546,770 ($508k,$507k,$544k,$549k) *$457k
Average Single Family Home Selling Price: $556,413 ($522k,$532k,$572k,$587k) *$500k
Single Family Home Sale to List Ratio This Week: 102% (103%, 105%, 105%, 107%) *109%
Median Single Family Home List Price (6 mo): $459,900 ($453k,$450k,$450k,$450k) *$389k
Median Single Family Home Sold Price (6 mo):$541,050 ($545k,$546k,$545k,$545k)*$437k
Average Days on Market Single Family Home: 15 (14, 12, 15, 13) *10
Active Condos: 113 (110, 103, 100, 101, 102) *105
Average Condo Listing Price: $402,526 ($384k, $355k, $362k, $368k) *$337k
Average Condo Selling Price: $398,903 ($400k, $365k, $372k, $384k) *$353k
Condo Sale to List Ratio This Week: 99% (104%, 103%, 103%, 105%) *105%
Median Condo List Price (6 mo): $386,750 ($385k, $386k, $390k, $390k) *$320k
Median Condo Sold Price (6 mo): $441,000 ($440k, $441k, $448k, $448k) *$349k
Average Days on Market Condos: 19 (20, 9, 16, 10) *21
Active Vacant Lots: 349 (349, 317, 303, 297) *475
The active single family home count is making some good distance from the amount available this time last year, and sees to be picking up steam as the Summer treks on. Not a ton of new listings this week, but the lack of sales and products receiving and accepting offers has lessened which has given the inventory a chance to catch up a bit. Price changes continue to be plentiful, and the weekly sales to list ratios for both tracked products continue their decent as well. In fact, the condo sales to list ratio hit under 100% for the first time in since being in the pandemic market. Overall, the market continues to correct, for now at least.
What a time it is out there right now! Buyers see blood in the water and are eager to take a chance at taking a bite out of the sellers listing prices. Sellers are still holding fast in most cases, but do have better luck when the acceptance of the new market sets in and adjust accordingly. As the market continues to turn, buyers will hopefully come back to the table knowing that listing prices are up for negotiation, and not just a suggestion of where to start the bidding. It was really a matter of time until the prices hit a point where it became too unaffordable for the local market, I just think there are a lot of folks who are surprised just how quickly it has, and continues to change. Make sure to stay tuned to to the blog to stay on top of things, and to stay informed! Thanks for stopping by!
The Weekly "Adogtable"
Hi, I'm Mandy, a 4 year old, 13 lb, chi mix girlie. I came all the way from Texas to the Maritimes in search of my forever family.
When I first arrived, I was in a foster home with a bigger doggy. I was terrified of everything. I wouldn't let anyone touch me, if they came near, I'd run and try to hide, going outside was not happening and I didn't make much improvement overcoming my fears while there. So my rescuers thought maybe it would help me more with a doggie my own size and what a difference that made. Within a few minutes of meeting him, we were doing zoomies. It still took a bit to warm up to my new foster parents but I am now happy to report that I am now more comfortable with going for a walk and letting them touch me in general. I'm not 100% confident yet but I've made huge improvements in just a few short days. So my rescuers will require you to have another smaller canine sibling for me (my size and energy level) as I am still weary of humans and the other animals give me the confidence I need to show you how sweet I am. Plus zoomies are the best with a friend to chase.
I am super cute. My foster mom is always telling me how pretty my eyes are and what a good girl I am and I just love it and I soak up the praise. I am also a big fan of treats. I am ready to work with my new family on confidence and obedience training and I’ll respond to both praise and treats for you.
I love all other animals (dog, cat and guinea pig tested). I am pee pad trained but my foster mom thinks with some patience I will eventually do my business outside as I do love being on the enclosed deck with all the animals. I am interested in toys and will play very well with other dogs; no aggression, barking or growling… just a happy wagging tail.
I eat well and love sleeping in my foster mom’s bed and that is when you can sneak in some neck scratches and belly rubs and I will reward you with lots of kisses. There are dog beds around but I prefer the couch where all the action is.
I am very interested in the 12 yr old human I am staying with and follow her around but would likely be a little too nervous around small, fast moving kiddos that wouldn’t respect my space.
I am good in the car but was only on one outing so far and was in a crate, but showed no signs of being anxious.
So, if you are looking to add another little dog to your fur family and you’ve got the time to work with me on my confidence and you have another little dog who would love to play with me, then I think we could be a great match!
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
If you have previously submitted an application for an unknown dog or any dog and you feel that I may be a fit for your family, you can just send my rescuers an email instead of submitting another application. The email address is email@example.com
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!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
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