The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: March 16th-23rd, 2023.
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 165 (185, 198, 163, 153) *208
Sold: 85 (100, 84, 91, 83) *153
Sale To Listing Ratio: 51% (54%, 42%, 56%, 54%) *74%
Price Changes: 44 (54, 55, 46, 42, 46)*26
Listings that went conditional/pending: 108 (110, 107, 102, 83) *211
Expired/Cancelled/Withdrawn: 29 (34, 44, 51, 14) *24
Total Active Halifax/Dartmouth Inventory: 1,130 (1,119, 1,096, 1,056, 1,042) *518
Absorption Rate in weeks: 13 (13, 13, 12, 12) *4
Single Family Home Stats
Active Single Family Home: 552 (529, 525, 485, 490) *166
Average Single Family Home List Price: $564,452 ($626k,$541k,$522k,$550k) *$540k
Average Single Family Home Selling Price: $567,190 ($627k,$537k,$522k,$552k) *$617k
Single Family Home Sale to List Ratio This Week: 101% (101%, 99%, 99%, 101%) *114%
Median Single Family Home List Price (6 mo):$479,900 ($480k,$480k,$476k,$470k) *$420k
Median Single Family Home Sold Price(6 mo):$475,000 ($475k,$475k,$472k,$468k)*$481k
Average Days on Market Single Family Home: 27 (32, 31, 36, 37) *8
Active Condos: 79 (78, 78, 68, 71) *42
Average Condo Listing Price: $434,662 ($481k, $420k, $419k, $452k) *$409k
Average Condo Selling Price: $444,237 ($487k, $416k, $420k, $448k) *$504k
Condo Sale to List Ratio This Week: 102% (101%, 99%, 100%, 99%) *123%
Median Condo List Price (6 mo): $407,450 ($410k, $410k, $400k, $400k) *$360k
Median Condo Sold Price (6 mo): $406,250 ($408k, $405k, $400k, $393k) *$390k
Average Days on Market Condos: 10 (22, 23, 20, 28) *7
Active Vacant Lots: 368 (373, 365, 369, 368) *214
Both Buyer and Seller activity reported lower than normal for this time of year, including new listings hitting the market. Even with the lack of new listing turnout this week, the overall inventory did take a gain, with expectation that this number will continue to rise as certain areas and price points continue to stagnate. The weekly sales to list ratio continues to report drastically lower than last year at this time, and although we have over double the inventory from last year, there was only half of the amount of conditionally accepted offers. March 2022 was the beginning of the end to the pandemic market, fast forward a year later and there has been many changes, which has resulted in the current market. There are still some leftover activities, like multiple offers, and the offer holdover period, but they are not as extreme as the market a year ago. Still, as the inventory remains lower than it has reported in many years prior to 2019, it is slowly crawling its way back to regular market ebb and flow. With Spring finally here, inventory should continue to climb, as patient buyers continue to monitor market developments in hopes they are not caught up in a frenzy. Listing prices seem to have a closer alignment between last year at this time and now, with the big change being the selling prices. Speaking of, prices appear to have bottomed out a couple months ago, as the six month averages continue to trend higher from week to week. Still, the uniqueness of this time of year can lend to a false crest, and typically, the first three months of the year indicate how the Spring market will perform. So far, the report seems to point to stabilizing prices, increasing inventory and a buyer pool that is a bit smaller than we have seen in previous years, so it will be interesting to see if this trend continues. Spring is sure to be an interesting market season, so be sure to stay tuned and stay informed! Thanks for stopping by!
The Weekly "Adogtable"
My name is Callen. I am a 6 yr old, 17lb, chihuahua mix lady. I came from Texas before Christmas and am now starting the search for my forever home.
I am a very timid girl who takes great comfort in other dogs. Any forever home will definitely need to have another dog. I am respectful of “dog rules” and draw comfort from the pack, dogs first, people second. I haven't met any cats so not sure what I'd think of them. As far as kids go, no thanks...too noisy and unpredictable for this girl. Although I am very shy, I haven’t shown any aggression towards anyone but my foster family does give me my space.
I am not leash trained. My fosters have been working on it without success. A leash is an annoying, useless accessory in my eyes. Although I will tolerate it being attached, that’s as far as it goes. I go into instant flight mode when pressure is applied. Maybe once my confidence builds, it will get better. When I'm outside, I am uncomfortable and am always trying to find a way back inside to safety. Maybe I'm just an indoor type of gal. Even with my foster parents who I've been with for a couple months, if I ever got off leash, I would probably run.
I believe once leash trained/comfortable outside I would probably benefit from and enjoy some outside physical activity in daily walks, but I am also very content to lay about.
I know my name, working on recall and I will come most of the time when called depending on what obstacles are in my way. With treats involved, the success rate goes up.
I use a pee pad with zero issues. Once some leash work is complete I believe the transition to outside potty would be pretty seamless as I am a very smart dog. I am treat and canine motivated. I follow my foster fur sibling almost everywhere. I will also stay close to my foster mom sometimes. As long as there are no visitors in the house, I have no issue relaxing with the family.
I do not have separation anxiety nor am I crate trained. I prefer to sleep in a dog bed beside my humans bed, or in the living room or office. I do like the bed and will sneak on during the day or when they are out, but I need stairs to get on/off and I am uncomfortable with being that close to my humans while I'm sleeping. I am not destructive when left alone with free reign of the house. I may snoop when I'm bored so something mentally stimulating would help if you're gone...Kong, food ball, snuffle mat, etc.
I will bark with unexpected quick moves/noises. I will also bark at men, but I'm not aggressive, just telling them to keep their distance. I am not a picky eater but don't panic if you don't see me eat. I prefer to do that when everyone is asleep.
I don't like baths but I think I tolerated it like a champ. I have shown some interest in toys so I believe, in time, I'll get the hang of them. My tolerance of people has improved since I arrived, however I am still very wary of people in general and will not seek out physical affection.
To sum me up, I am a wonderful girl who would do excellent in a home with another dog and owners willing to put the time in to acclimate me to life in a household. I would not recommend a home with children due to noise/activity but older teens would probably be fine. I have a slight aversion to men, but nothing that can’t be worked past, I have not been aggressive. In the short time I have been here, I have adjusted at a slow and steady pace, and am now seeking out a family to further build that trust and a strong relationship with. I am a very intelligent dog and have a willingness and want to be part of a family, but struggle due to my past experiences. Are you the one to help me with this?
My adoption fee is a $450 donation to the rescue to help save more dogs like me. I am spayed, 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 her 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