The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: June 3rd-10th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 368 (272, 251, 250, 251) *282
Sold: 206 (183, 201, 245, 303) *220
Sale To Listing Ratio: 56% (67%, 80%, 98%, 121%) *78%
Price Changes: 38 (43, 35, 39, 39) *89
Listings that went conditional/pending: 259 (207, 223, 204, 267) *302
Expired/Cancelled/Withdrawn: 50 (50, 27, 40, 43) *48
Total Active Halifax/Dartmouth Inventory: 1,054 (978, 950, 971, 880) +2,041
Absorption Rate in weeks: 5 (4, 4, 3, 3) *12
Single Family Home Stats
Active Single Family Home: 391 (352, 325, 350, 290) *1,068
Average Single Family Home List Price: $447,897 ($460k,$433k,$453k,$446k) *$371k
Average Single Family Home Selling Price: $504,659 ($515k,$490k,$508k,$494k) *$372k
Single Family Home Sale to List Ratio This Week: 113% (112%,113%,112%,111%) *100%
Median Single Family Home List Price (6 mo): $385,900 ($385k,$385k,$380k,$380k)*$327k
Median Single Family Home Sold Price (6 mo):$429,000 ($425k,$425k,$415k,$415k)*$325k
Average Days on Market Single Family Home: 12 (21, 12, 14, 21) *61
Active Condos: 90 (83, 80, 78, 74, 90) *161
Average Condo Listing Price: $323,760 ($353k, $378k, $424k, $378k) *$262k
Average Condo Selling Price: $356,890 ($385k, $391k, $436k, $397k) *$261k
Condo Sale to List Ratio This Week: 110% (109%, 103%, 103%, 105%) 99%
Median Condo List Price (6 mo): $322,450 ($320k, $319k, $305k, $305k) *$275k
Median Condo Sold Price (6 mo): $348,500 ($345k, $339k, $325k, $325k) *$275k
Average Days on Market Condos: 7 (12, 42, 13, 16) *24
Active Vacant Lots: 447 (428, 425, 420, 406) *675
Took awhile, but we have finally crested the 1,000 unit mark with the inventory, and as predicted, the back end of the lockdown sees an explosion of new listings to pump those numbers up! Still, almost 50% less than last year at this time, but it's definitely a step in the right direction. Single family homes experienced the biggest gain, but vacant lots had a good showing especially given the product availability ratios. Sales were a bit down this week, but this is a dragging stat, so the sales reported this week were likely lower due to the lockdown. One of the stats that can be measured week to week is the pending sales, which saw a sharp spike in the northern direction as people stretch their legs and get back to the property shop. Expect this to activity to sustain in the coming weeks, as well an increase to the overall inventory in all tracked products. The prediction is that we will see a late Spring market, one that would usually be cooling by this point but was stunted due to the restrictions. Still not tapped back into the out of province buyer stream yet, as border restrictions still loom, but they too will be coming to an end soon. So, for local buyers, now might be your chance! The paused listings from the lockdown will be flooding to market over the next few weeks, and out of town buyers are being held at bay for a little longer, perhaps lending an opening and chance to get in! Things are still rapidly changing, so keep tuned into the blog to stay on top of all things Halifax Real Estate! stay safe out there, and thanks for stopping by!
The Weekly "Adogtable"
Allie is a sweet girl with an abundance of energy! She has never been around cats, and while she has met a few dogs and has played with a few before, she has begun resource guarding furniture and some items by growling when another dog comes near. This behavior has not been shown towards people. Allie is currently reactive on leash to strange dogs and strangers, although once she meets you she is affectionate and playful. Allie loves to be the center of attention and snuggle with her humans.
She is OK with kids, but will need to assess this further to determine age limitations. Allie is crate trained, and is learning to not pull so hard on a harness for her walks. Allie has not exhibited any anxious or destructive behaviors.
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
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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah