The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: July 15th-22nd, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 252 (311, 215, 260, 349) *321
Sold: 187 (208, 175, 201, 209) *258
Sale To Listing Ratio: 74% (67%, 81%, 77%, 60%) *80%
Price Changes: 74 (57, 54, 50, 62) *131
Listings that went conditional/pending: 228 (242, 170, 251, 258) *291
Expired/Cancelled/Withdrawn: 65 (49, 74, 103, 41) *59
Total Active Halifax/Dartmouth Inventory: 1,225 (1,211, 1,153, 1,109, 1,184) +1,908
Absorption Rate in weeks: 6 (6, 6, 5, 6)*8
Single Family Home Stats
Active Single Family Home: 495 (485, 448, 418, 468) *991
Average Single Family Home List Price: $456,898 ($434k,$417k,$461k,$409k) *$364k
Average Single Family Home Selling Price: $499,482 ($474k,$463k,$515k,$465k) *$369k
Single Family Home Sale to List Ratio This Week: 109% (109%,111%,112%,114%) *102%
Median Single Family Home List Price (6 mo): $389,000 ($386k,$385k,$386k,$385)*$330k
Median Single Family Home Sold Price (6 mo):$437,000 ($435k,$435k,$435k,$433k)*$333k
Average Days on Market Single Family Home: 10 (12, 21, 12 ,9) *38
Active Condos: 105 (107, 107, 99, 90, 90) *156
Average Condo Listing Price: $336,732 ($384k, $329k, $297k, $390k) *$269k
Average Condo Selling Price: $352,965 ($406k, $360k, $326k, $424k) *$270k
Condo Sale to List Ratio This Week: 105% (105%, 110%, 110%, 109%) *100%
Median Condo List Price (6 mo): $319,900 ($320k, $320k, $320k, $320k) *$273k
Median Condo Sold Price (6 mo): $349,250 ($350k, $350k, $350k, $350k) *$270k
Average Days on Market Condos: 21 (25, 16, 13, 9) *80
Active Vacant Lots: 475 (467, 448, 443, 463) *596
Finally starting to creep up there! Slowly but surly, the inventory levels continue to rise, which is actually quite opposite from annual trend. Unique market however, so really, anything goes! Things do seem to be clawing back after a disappointing return from the last lockdown for sellers, but still not as booming as before entering it. Summer months do tend to be slower usually, but it seems that the expectation is for the Halifax market to be wide open all the time. The last month and some have proven that no market is invincible and there are signs that the inevitable slowing has begun, the question is if it's just falling in line with annual trend, or if this Sellers market is starting to soften finally. Inventory is still significantly lower than this time last year, but that gap is starting to narrow ever so slowly. Some other small indicators continue to point to a softening market as well, like the increasing amount of price changes, and listings that expired/cancelled from market. Not huge numbers yet, but week to week they continue to push, seemingly going unnoticed until a time gap points to that change. On the other hand, other small indicators, like the days on market count and overall sale prices continue to impress, so it certainly sends mixed messages. This has caused some interesting tactics and techniques for listing strategy and offers as the market changes, making buyers, sellers and agents alike scramble to adapt quickly. Stay tuned to the blog to stay on top of our dynamic market, stay safe out there, and thanks for stopping by!
The Weekly "Adogtable"
Meet Kali! Kali came in with her sister Nala. Kali is confident, food motivated, and energetic! She walks well on a leash, but can be reactive. She is not destructive in the home, and has no bite history. Kali has been around other dogs and did well, has lived with cats, and no prey drive is noted. Kali is good with kids, and strangers (although she prefers females). Kali is house trained and crate trained. Kali does exhibit mild resource guarding and tries to get to them first before her sister can.
This "cuddly companion" is available through Good Bones Dog Rescue, 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