The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: March 10th-17th, 2022
44,894(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 208 (214, 195, 221, 208) *318
Sold: 153 (152, 138, 124, 131) *216
Sale To Listing Ratio: 74% (71%, 71%, 56%, 63%) *68%
Price Changes: 26 (26, 12, 13, 14) *39
Listings that went conditional/pending: 211 (187, 179, 158, 137) *277
Expired/Cancelled/Withdrawn: 24 (24, 34, 26, 28) *35
Total Active Halifax/Dartmouth Inventory: 518 (540, 556, 560, 555) +916
Absorption Rate in weeks: 4 (4, 4, 5, 5) *4.5
Single Family Home Stats
Active Single Family Home: 166 (169, 171, 177, 174) *338
Average Single Family Home List Price: $539,696 ($512k,$558k,$507k,$507k) *$485k
Average Single Family Home Selling Price: $616,650 ($617k,$662k,$596k,$597k) *$520k
Single Family Home Sale to List Ratio This Week: 114% (121%,119%,118%,118%) *108%
Median Single Family Home List Price (6 mo): $419,900($419k,$413k,$400k,$400k) *$375k
Median Single Family Home Sold Price (6 mo):$481,000 ($475k,$471k,$470k,$455k)*$387k
Average Days on Market Single Family Home: 8 (10, 12, 18, 21) *26
Active Condos: 42 (50, 47, 35, 39) *103
Average Condo Listing Price: $408,587 ($437k, $419k, $396k, $452k) *$363k
Average Condo Selling Price: $503,453 ($516k, $504k, $456k, $529k) *$380k
Condo Sale to List Ratio This Week: 123% (118%, 120%, 115%, 117%) *105%
Median Condo List Price (6 mo): $359,900 ($360k, $360k $350k, $350k) *$290k
Median Condo Sold Price (6 mo): $390,000 ($385k, $380k, $374k, $371k) *$299k
Average Days on Market Condos: 7 (37, 9, 34, 6) *126
Active Vacant Lots: 214 (225, 226, 239, 233) *358
The hits keep on coming! Average inventory gains are being met once again by significant demand, which has punched down the the overall inventory level for the third straight week in a row. Annual trend around this year usually sees inventory numbers push up week to week until we hit the peak of the Spring market, then it slowly tapers off for the remainder of the year, but not so much this year so far. Since any new additions to the market are being gobbled up by the increasing buyer pool, there really isn't an opportunity for the current volume of listings to increase, keeping the offer holdover market strategy pretty much standard at this point. As the Sellers market here in Halifax digs deeper, buyers are quickly finding themselves inside of it without a rope, and outside of their initial property expectation, or out of the market entirely as properties here continue to press to record heights. Speaking of, weekly values remained steady this week, however, the 6 month median prices jumped again this week. Single Family Home 6 month listing price gained $20,000 in a short four week span, and the bidding wars have caused the six month median selling price to jump a staggering $26,000 in that time. The worst is not over I fear, as the weeks press on and the median tracking catches up to the current market, which is nothing short of incredible at the moment. Hopefully, by the time that happens we will be into the Summer market, which many are hoping will look a bit different than the one we find ourselves in currently. Stay tuned to the blog to stay on top of things, and thanks for stopping by!
The Weekly "Adogtable"
Hello everyone, I’m Ollie, a 9 month old pitty mix boy weighing approximately 45lbs. I made my way to Canada from Texas, where I was found as a stray and I am ready to start searching for my forever home.
I’m a playful fella who loves toys of all kinds but squeakers are my favourite. I will play fetch but I’m still working on bringing the ball back. Balls are fun!
I am a little nervous when I first meet people and sometimes will growl but stop quickly, especially if you have a treat for me. I love treats! Children older than 12 are recommended due to my size and age as I can easily knock over a smaller child because I don’t realize my size and strength.
I walk great on leash and do not pull at all. I’m also perfect in the car and usually just curl up on the seat and take a nap. My foster mom uses the command “Load Up!” and I jump right in.
I am almost housetrained. I do most of my business outside but you have to take me out immediately after I eat/drink any amount of water. If I have an accident it is in front of the door but I don’t make any noise or indication to go out so sometimes my foster parents miss getting me out quick enough and then I will have an accident. I am getting so much better because they keep a close eye on me and know if I head to the door, I need out.
Smaller animals are a big NO for me, cats, dogs or other. After almost 2 weeks of living without incident in my current foster home, I grabbed my little fur foster sister, thankfully she is going to be ok, but clearly I can't be trusted with littles. I also don’t think living with a low energy dog is ideal as I don’t know when to quit playtime and it can make another dog upset with me when they’ve had enough.
I have no issues with resource guarding at all. I do bark a fair amount so apartments probably aren't ideal for me.
I am crate trained for when I’m left alone, although I haven’t had to be in one for a while because my foster momma is home from work right now so I haven’t been alone much. My favourite place to sleep is in bed with my humans. Most times I climb under the covers and use the pillows. I think I’m part human sometimes.
I am such a handsome boy, everyone falls in love with me! I hope my forever family is out there waiting and sees how wonderful I am!
My adoption fee is a $450 donation to the rescue to help save more dogs like me. I am neutered, 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 the Save a Life Canada Animal Rescue, 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