The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: June 30th - July 7th, 2022
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 254 (315, 356, 307, 365) *215
Sold: 146 (181, 192, 220, 197) *175
Sale To Listing Ratio: 57% (58%, 54%, 72%, 54%) *81%
Price Changes: 92 (130, 112, 122, 102) *54
Listings that went conditional/pending: 161 (235, 206, 227, 248) *170
Expired/Cancelled/Withdrawn: 94 (58, 56, 45, 44) *74
Total Active Halifax/Dartmouth Inventory: 1,198 (1,167, 1,178, 1,097, 1,077) +1,153
Absorption Rate in weeks: 7 (6, 6, 6, 6) *6
Single Family Home Stats
Active Single Family Home: 604 (591, 587, 522, 552) *448
Average Single Family Home List Price: $507,205 ($544k,$549k,$529k,$548k) *$417k
Average Single Family Home Selling Price: $531,650 ($572k,$587k,$577k,$599k) *$463k
Single Family Home Sale to List Ratio This Week: 105% (105%, 107%,110%, 110%) *110%
Median Single Family Home List Price (6 mo): $450,000 ($450k,$450k,$450k,$450k) *$385k
Median Single Family Home Sold Price (6 mo):$546,000 ($545k,$545k,$545k,$545k)*$435k
Average Days on Market Single Family Home: 12 (15, 13, 9, 10) *21
Active Condos: 103 (100, 101, 102, 93) *107
Average Condo Listing Price: $354,950 ($362k, $368k, $587k, $418k) *$329k
Average Condo Selling Price: $364,877 ($372k, $384k, $603k, $450k) *$360k
Condo Sale to List Ratio This Week: 103% (103%, 105%, 103%, 108%) *100%
Median Condo List Price (6 mo): $385,900 ($390k, $390k, $390k, $390k) *$320k
Median Condo Sold Price (6 mo): $440,500 ($448k, $448k, $450k, $446k) *$350k
Average Days on Market Condos: 9 (16, 10, 12, 13) *16
Active Vacant Lots: 317 (303, 297, 287, 269) *448
This weeks stats are likely not a direct reflection of the overall picture due to the Canada Day long weekend, even then, indicators continue to point towards a balancing market. With the holiday weekend in the rear view, it is no doubt that the weekly numbers were down, so let's have a look at the big picture numbers! The six month Single Family Home median list/sale prices held fast this week, while the condo variant took a slight reduction on both points. The overall inventory punched up again this week, and reported 45 more units available than this time last year, which continues to be positive news for buyers, but not so much for sellers.
As this market continues to push on, the realty is that the extreme overbids and continued inflation of purchase prices has all but come to an end at this point. Well....mostly. It has caused a bit of market confusion for both buyer and seller really, since buyers are back to not having a gauge to bid with and sellers meet disappointment when listing prices that were hoped for are not met. The good thing is that most sellers needing to sell who have been in their homes for over three years can still do well, but perhaps not as well as four months ago, or even a month ago to a lesser extent. It's really all about being flexible realizing that the market has changed and the profit margin is just smaller is all. Buyers have been stumped for the last three years or so, so it's no doubt all eyes are to the dropping prices and increasing inventory. It's a strange one out there, but I have you covered! Be sure to stay tuned to the blog on top of this dynamic market, and thanks for stopping by!
The Weekly "Adogtable"
Hi All. My name is Chewy and I am a 3yr old, 10lb, chihuahua mix fella. I came all the way from Texas to search for a better life and I'm now ready to start that search.
I have 2 foster canine siblings. I have recently started playing with my 1-year-old foster sister. My foster brother is old and doesn't care about me so we basically ignore each other. I haven't met any cats or kids yet.
I am not a very cuddly dog, as of yet, because I am still very afraid and my mom & dad are still slowly gaining my trust. I was faster to warm up to my mom even though she still has to work hard to pick me up.
I know my name really well, I don't walk well on a leash yet but I will eventually get there. I have been running in the fenced yard for the last 4 days. Before that, my foster mom had to take me out with a leash because you guys in Canada are nice but your green thing on the ground is cold in the morning and sometimes it's wet, and that I am NOT a fan of, lol.
Despite my name I am NOT a chewer, I am starting to play with toys but I am not destructive. I still mark in the house sometimes but I came such a long way in a short period of time. I have to go for the " big operation" at the beginning of June so that might take care of the remainder of my " marking" incidents here and there. I am very food motivated and extra gentle when my parents give me treats. I dance and get super excited when it's mealtime.
I was good in the car, the 2 times we went for a ride. I am good home alone free, I don't really bother with anything. I just found my voice and start barking gently at people in the street. I mostly have a little run in the fenced yard with my sister and then nap on my bed or the couch. When I arrived, I had a skin allergy, and my mom had to put cream on me daily. I didn't much care for that and she didn't want to make me even more uncomfortable so she hasn't pushed a bath on me yet. I do have scars under my armpit and sometimes I scratch a lot because of this but the medications the vet gave me is making me better now. I did let my dad cut my nails. I was nervous but I didn't make a big deal of that.
My ideal forever home would be very calm with adults, grown kids and a fur friend to play with. I want to cuddle so bad but I am still scared. I am so happy when my parents come back from work but right now I can't have love forced upon me. I need very patient parents with dog experience who understand that I need to come around in my own time. I will get there with patience, love and understanding.
If you have what I need, let my rescuers know.
My adoption fee is a $500 donation to the rescue to help save more dogs like me. I will soon be neutered, I am vaccinated, microchipped, come with a 6-week trial of pet insurance from PetSecure and have all my doggy papers to come home to you! You can apply for me at https://form.jotform.com/60895241776264
This "cuddly companion" is available through Save a Life Animal Rescue Society, 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