The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: June 17th-24th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 349 (355, 368, 272, 251) *350
Sold: 209 (223, 206, 183, 201) *245
Sale To Listing Ratio: 60% (63%, 56%, 67%, 80%) *70%
Price Changes: 62 (57, 38, 43, 35) *141
Listings that went conditional/pending: 258 (269, 259, 207, 223) *287
Expired/Cancelled/Withdrawn: 41 (44, 50, 50, 27) *39
Total Active Halifax/Dartmouth Inventory: 1,184 (1,102, 1,054, 978, 950) +2,068
Absorption Rate in weeks: 6 (5, 5, 4, 4)*10
Single Family Home Stats
Active Single Family Home: 468 (435, 391, 352, 325) *1,074
Average Single Family Home List Price: $408,738 ($420k,$448k,$460k,$433k) *$363k
Average Single Family Home Selling Price: $465,270 ($482k,$505k,$515k,$490k) *$363k
Single Family Home Sale to List Ratio This Week: 114% (115%,113%,112%,113%) *100%
Median Single Family Home List Price (6 mo): $385,000 ($385k,$386k,$385k,$385k)*$328k
Median Single Family Home Sold Price (6 mo):$433,000 ($430k,$429k,$425k,$425k)*$325k
Average Days on Market Single Family Home: 9 (16, 12, 21, 12) *38
Active Condos: 99 (90, 90, 83, 80, 78) *165
Average Condo Listing Price: $389,614 ($349k, $324k, $353k, $378k) *$295k
Average Condo Selling Price: $424,256 ($372k, $357k, $385k, $391k) *$295k
Condo Sale to List Ratio This Week: 109% (107%, 110%, 109%, 103%) 100%
Median Condo List Price (6 mo): $319,900 ($319k, $323k, $320k, $319k) *$274k
Median Condo Sold Price (6 mo): $349,900 ($345k, $349k, $345k, $339k) *$273k
Average Days on Market Condos: 9 (13, 7, 12, 42) *17
Active Vacant Lots: 463 (442, 447, 428, 425) *676
Highest inventory of the season!! Still just shy of 50% less from last year at this time, but we are finally headed in a different direction...for now. Decent gains in all tracked products this week certainly helped the growth, with single family homes leading the charge reporting one of the largest jumps in a week so for this year. Sales reported a touch lower again this week, but with the solid buyer activity in the last week putting property under agreement, that number is bound to get back to the pre-lockdown levels shortly. What seems like a bit of a slow awakening on the other side of the restrictions being lifted has started to change. Took a week or so to happen, but buyers are slowly coming back out, although listings are still trailing a bit with the return to the market. It's a strange dynamic out there right now, not as busy as before, but activity is increasing, so perhaps we are headed back in that direction soon. Historically, Summer is the notoriously slow market season, likely because most relocations and in town moves have been concluded so that kids can settle into their new homes before the school year starts, and relocated employees can have a bit of Summer before getting back to work in the Fall. Posting season for military and other government employees also follow these seasons as well, making Spring the busiest time historically. We had a few influencing delays in our Spring market including a lockdown, limited inventory and a pause on the influx of out of province buyers because of the border closure, so the thought is that this activity would pour over into the Summer months to make up for the lost time. Still early, so the next few weeks will really indicate which way things may go. Stay tuned to the blog to find out! Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
Harley loves people and kids, and is a happy dog that listens well. He is house trained and crate trained. Harley has no bite history, but is not recommended around cats and has not met other dogs besides the dog he lived with. Harley requires obedience training as he jumps up, pulls on leash, has no recall, steals food within reach, and sometimes chews the kennel floor when he was left in there too long, so potentially has separation anxiety. He will be assessed further while in rescue and obedience training will be started.
This "cuddly companion" is available through Good Bones Dog Rescue, 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
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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