The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: July 8th-15th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 311 (215, 260, 349, 355) *341
Sold: 208 (175, 201, 209, 223) *218
Sale To Listing Ratio: 67% (81%, 77%, 60%, 63%) *64%
Price Changes: 57 (54, 50, 62, 57) *86
Listings that went conditional/pending: 242 (170, 251, 258, 269) *257
Expired/Cancelled/Withdrawn: 49 (74, 103, 41, 44) *55
Total Active Halifax/Dartmouth Inventory: 1,211 (1,153, 1,109, 1,184, 1,102) +1,921
Absorption Rate in weeks: 6 (6, 5, 6, 5)*8
Single Family Home Stats
Active Single Family Home: 485 (448, 418, 468, 435) *1,007
Average Single Family Home List Price: $433,582 ($417k,$461k,$409k,$420k) *$403k
Average Single Family Home Selling Price: $473,783 ($463k,$515k,$465k,$482k) *$405k
Single Family Home Sale to List Ratio This Week: 109% (111%,112%,114%,115%) *100%
Median Single Family Home List Price (6 mo): $385,900 ($385k,$386k,$385,$385k)*$330k
Median Single Family Home Sold Price (6 mo):$435,000 ($435k,$435k,$433k,$430k)*$333k
Average Days on Market Single Family Home: 12 (21, 12 ,9, 16) *59
Active Condos: 107 (107, 99, 90, 90) *157
Average Condo Listing Price: $384,073 ($329k, $297k, $390k, $349k) *$311k
Average Condo Selling Price: $405,446 ($360k, $326k, $424k, $372k) *$309k
Condo Sale to List Ratio This Week: 105% (110%, 110%, 109%, 107%) *99%
Median Condo List Price (6 mo): $319,900 ($320k, $320k, $320k, $319k) *$280k
Median Condo Sold Price (6 mo): $349,900 ($350k, $350k, $350k, $345k) *$278k
Average Days on Market Condos: 25 (16, 13, 9, 13) *80
Active Vacant Lots: 467 (448, 443, 463, 442) *594
Back in action with a good amount of inventory gain this week! A couple lazy Summer weeks started to make people wonder if all the gas had run out of the market, but the stats are saying there's still some left in the tank! New listing additions returned to crest the 300 mark for the first time in two week, and sales reported back to plus of 200 units. Buyer activity made a return as well, with 242 properties receiving and accepting offers this week! Still some signs that are pointing to a plateau though, like the 6 month median prices that have barely shifted in the last month, which is the largest and slowest data pool we have to draw from. The good news for buyers is that the levelling out may finally give some consistency to listing and purchase price exceptions, well, a bit more predictable than the last year anyways. So perhaps the first few weeks post lockdown was just a quiet wakeup of the market, and now we are in for another whirlwind of activity, or is this just the final throes of the Sellers market and are heading in a different direction? Definitely seeing some softening in areas of HRM, and in certain price points as well, so it will be interesting to see how things progress during the Summer months. Stay tuned to the blog to stay on top of everything Halifax Real Estate related, thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
Romeo is EXTREMELY well trained and goes to daycare regularly! His previous owner took advantage of every opportunity to train him and is hoping we'll be able to find someone equally diligent with keeping him properly stimulated mentally and physically. He is fun-loving, adventurous, excitable, good natured, intelligent, curious, loves to learn and please, play, loves bed and couch cuddles, wants to be around you, he loves exploring and sniffing, going to the beach and digging in the sand.
Romeo is house trained and crate trained. Behavioral Problems: Mouthing, Humping, and Separation Anxiety. Good with kids, although he sometimes takes a little bit to warm up to strangers. No cats or small animals as he has prey drive.
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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Newest Blog post HERE
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