The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: June 24th-July 1st, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 260 (349, 355, 368, 272) *312
Sold: 201 (209, 223, 206, 183) *257
Sale To Listing Ratio: 77% (60%, 63%, 56%, 67%) *83%
Price Changes: 50 (62, 57, 38, 43) *79
Listings that went conditional/pending: 251 (258, 269, 259, 207) *286
Expired/Cancelled/Withdrawn: 103 (41, 44, 50, 50) *110
Total Active Halifax/Dartmouth Inventory: 1,109 (1,184, 1,102, 1,054, 978) +1,941
Absorption Rate in weeks: 5 (6, 5, 5, 4)*8
Single Family Home Stats
Active Single Family Home: 418 (468, 435, 391, 352) *1,015
Average Single Family Home List Price: $461,211 ($409k,$420k,$448k,$460k) *$384k
Average Single Family Home Selling Price: $514,518($465k,$482k,$505k,$515k) *$383k
Single Family Home Sale to List Ratio This Week: 112% (114%,115%,113%,112%) *100%
Median Single Family Home List Price (6 mo): $385,700 ($385,$385k,$386k,$385k)*$330k
Median Single Family Home Sold Price (6 mo):$435,000 ($433k,$430k,$429k,$425k)*$330k
Average Days on Market Single Family Home: 12 (9, 16, 12, 21) *56
Active Condos: 92 (99, 90, 90, 83, 80, 78) *155
Average Condo Listing Price: $296,965 ($390k, $349k, $324k, $353k) *328k
Average Condo Selling Price: $325,844 ($424k, $372k, $357k, $385k) *$326k
Condo Sale to List Ratio This Week: 110% (109%, 107%, 110%, 109%) *99%
Median Condo List Price (6 mo): $319,900 ($320k, $319k, $323k, $320k) *$280k
Median Condo Sold Price (6 mo): $349,250 ($350k, $345k, $349k, $345k) *$273k
Average Days on Market Condos: 13 (9, 13, 7, 12) *53
Active Vacant Lots: 443 (463, 442, 447, 428) *662
Well that was short lived. With a few weeks of inventory gain in June, there was hope that more property options were finally on the way, easing the burden for the horde of buyers out there shopping for their next home. That hope was all but squashed this week with a sharp swing in the overall inventory numbers, causing reductions in all tracked products. Sure, the lack of new property additions contributed in what seems to be an eerily quiet post lockdown listing surge, helped along by a decent sales week and properties falling under agreement. One of the more surprising contributors to the reduction was the expired/cancelled/withdrawn pile, reporting in over 100 units for the first time since last year, Some heavy hitters must have sold this week, driving up the average residential sale price over $500k again for the third time in a month, while condo's had a fairly low report this week. Both six month median sales and list prices remained relatively the same, seeing only slight variations plus and minus of last weeks report, but with the unknown state of the current market, it's anyones guess which direction these are about to head in. Stay tuned to the blog to stay on top of the ever changing market to find out! Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
Fundy is playful, smart, obedient, very active, loves swimming, hiking, playing ball (ball is LIFE) or frisbee, and loves people! She is housetrained and crate trained, and is not destructive! Fundy only barks to let you know she needs to pee or if another dark is super vocal. She is observant of small animals, and is super-excited about other dogs (she doesn't know how to interact with them and doesn't understand when they want space). No bite history. This gal is so verasatile and willing to learn!
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!
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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