The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (July 30th - August 6th, 2020)
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 332 (295, 321, 341, 349) *273
Sold: 231 (221, 258, 218, 234) *154
Sale To Listing Ratio: 70% (75%, 80%, 64%, 67%) *56%
Price Changes: 80 (98, 131, 86, 122)*123
Listings that went conditional/pending: 249 (271, 291, 257, 312) *198
Expired/Cancelled/Withdrawn: 123 (22, 59, 55, 60) *128
Total Active Halifax/Dartmouth Inventory: 1,860 (1,888, 1,908, 1,921, 1,908) +3,257
Absorption Rate in weeks: 8 (8, 8, 8, 8) *18
Single Family Home Stats
Active Single Family Home: 934 (961, 991, 1,008, 1,007) *1,852
Average Single Family Home List Price: $387,014 ($362k,$364k,$403k,$397k) *$362k
Average Single Family Home Selling Price: $388,409 ($366k,$369k,$405k,$397k) *$354k
Single Family Home Sale to List Ratio This Week: 101% (101%,102%,100%,99%) *98%
Median Single Family Home List Price (6 mo): $330,000 ($330k,$330k,$330k,$330k)*$304k
Median Single Family Home Sold Price (6 mo):$335,000 ($334k,$333,$333k,$330k)*$300k
Average Days on Market Single Family Home: 41 (46, 38, 59, 40) *55
Active Condos: 155 (151, 156, 157, 160) *210
Average Condo Listing Price: $325,789 ($232k, $269k, $312k, $290k) *$249k
Average Condo Selling Price: $326,859 ($233k, $270k, $309k, $288k) *$243k
Condo Sale to List Ratio This Week: 100% (100%, 100%, 99%, 99%) 98%
Median Condo List Price (6 mo): $274,900 ($273k, $273k, $280k, $275) *$250k
Median Condo Sold Price (6 mo): $272,500 ($270k, $270k, $278k, $273k) *$240k
Average Days on Market Condos: 31 (24, 80, 80, 50)*50
Active Vacant Lots: 591 (607, 596, 594, 592) *939
More listings this week, but we are still failing to get lift off with the overall inventory. The insanely hot market continues again this week with solid sales numbers, steady buyer activity, and elevated sales to list ratio, and there is no sign of it slowing anytime soon. Single family homes continue to be the hot ticket, and the largest contributor to the reduction of inventory week to week, which is the product that has the majority of the market share and demand. The absorption rate remains steady at it's lowest recorded value of a mere 2 months, so if there was no more new listings and the market stopped, it would take a short 8 weeks to sell off everything for sale currently which is pretty startling. Values remain steady across the tracked products, and the six month median sale prices are finally starting to reflect the current market environment, reporting over their list prices. Still not a lot of options out there, and just when things look to be tapering off, it ramps back up again. However, things can change rather quickly, so make sure to stay on top of things by checking into the blog on a regular basis! Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Hi everyone! My name is Macy and I am a 6 year old female Rottweiler/mastiff mix weighing around 90 lbs. I came from a Montreal gassing pound a few weeks ago and I am ready to find my forever home!
I always pull to go see other dogs but it can be hit or miss if I think they are okay. I have also seen cats outside and have pulled to go chase them so I think I'd prefer to just be an only animal in the house and receive all the love for myself!
I have loved all the people I met, including some calm older kids but I can get over excited sometimes as well. I am going to need some strong humans to work with me because I am a very strong girl!
I do have a torn ACL that I take a daily pain medication for but it does not slow me down one bit! These wonderful people in the rescue have said they are going to pay for this to be dealt with as soon as it is possible!
I had a few accidents when I first came to my foster dad but have not had any since. I am getting better on a leash but still pull if there is something yummy or interesting going on. I am learning recall and am ok with no distractions but right now I would still choose to go investigate anything else that is going on.
I can definitly be a couch potato just as much of a snuggle bug and like to play once I am comfortable with you. I am a good housemate and usually just mind my own business, I like to sleep in my free time, or watch tv with my foster dad.
I don’t mind having my teeth or ears cleaned but it's definitely not my favorite thing to do. I am okay taking my pain medication because I know it helps me but I'm still going to try to avoid it if I can.
In the car I am usually fairly calm but due to being a larger girl I need room to keep my balance and will only lay down or sit when exhausted from the adventure we are coming back from. I don't really like being left home alone, I won't touch anything in the house and I don't really like the crate so I hope I don't have to go back in one.
I do not counter surf but will always eat what you give me. Toys are kind of weird, I don't really know what to do with them yet; I am just starting to figure out chasing a ball can be fun though!
I will answer to sit, down, wait, up and look and know I can keep learning things if you teach me! I might let out a few barks when someone is at the door but other than that I don't really bark. When they come in the house I will sniff and try to jump to say hi!
Are you my forever home?
My adoption fee is a $350 donation to help save more dogs like me. I am spayed 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 her 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah