The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: March 23rd-30th, 2023.
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 192 (165, 185, 198, 163) *263
Sold: 98 (85, 100, 84, 91) *149
Sale To Listing Ratio: 51% (51%, 54%, 42%, 56%) *57%
Price Changes: 55 (44, 54, 55, 46)*18
Listings that went conditional/pending: 132 (108, 110, 107, 102) *200
Expired/Cancelled/Withdrawn: 21 (29, 34, 44, 51) *37
Total Active Halifax/Dartmouth Inventory: 1,158 (1,130, 1,119, 1,096, 1,056) *577
Absorption Rate in weeks: 13 (13, 13, 13, 12) *4
Single Family Home Stats
Active Single Family Home: 564 (552, 529, 525, 485) *215
Average Single Family Home List Price: $582,334 ($565k,$626k,$541k,$522k) *$500k
Average Single Family Home Selling Price: $581,707 ($567k,$627k,$537k,$522k) *$611k
Single Family Home Sale to List Ratio This Week: 99% (101%, 101%, 99%, 99%) *122%
Median Single Family Home List Price (6 mo):$479,999 ($480k,$480k,$480k,$476k) *$425k
Median Single Family Home Sold Price(6 mo):$475,500 ($475k,$475k,$475k,$472k)*$499k
Average Days on Market Single Family Home: 32 (27, 32, 31, 36) *9
Active Condos: 78 (79, 78, 78, 68, 71) *37
Average Condo Listing Price: $437,073 ($435k, $481k, $420k, $419k) *$386k
Average Condo Selling Price: $440,083 ($487k, $416k, $420k) *$471k
Condo Sale to List Ratio This Week: 101% (102%, 101%, 99%, 100%) *122%
Median Condo List Price (6 mo): $399,900 ($408k, $410k, $410k, $400k) *$370k
Median Condo Sold Price (6 mo): $404,950 ($406k, $408k, $405k, $400k) *$405k
Average Days on Market Condos: 19 (10, 22, 23, 20) *9
Active Vacant Lots: 377 (368, 373, 365, 369) *233
Market activity continues to report rather lacklustre again this week, posting marginal inventory gains, and sub-par sales. Listings falling under contract edged up a bit, but still reporting much lower than this time last year, despite having more than double the property options. Values overall held steady this week, but the average selling price in general is reporting lower than this time last year, to include the single family home six month median selling amount. The six month median stats themselves have now turned over, and are starting to show positive signs of value increase. With the way the first quarter of the year has performed, it is not surprising to see the values recover so quickly, however, with the sagging start to the second quarter, it is now more questionable than ever to see how the Spring will turn out. Nova Scotia is still doing much better than some of the larger markets across Canada, as prices across the country continue to cool and sales slump. Affordability, ocean living, and everything else the jewel of Atlantic Canada has to offer, we continue to be a national draw, holding strong against the pandemic market correction. With March in the books, April will be our tipping point into defining what the rest of 2023 should look like, and with the way the numbers are reporting, it could go either way. I have you covered though! Stay tuned to the blog to stay on top of things and stay informed! Thanks for stopping by!
The Weekly "Adogtable"
My name is Sasha. I am a 7yr old, 12lb chihuahua mix lady. I came from Texas a couple months ago and now I need to start the search for my forever home.
I came as a very nervous little girl, but I am blossoming slowly into a more confident dog.
I will require a patient and attentive home. In my current foster home my ma and pa are retired, and with time, these two have become my pals. Their grown children and spouses, well, they may need a bit more time. They come and go and we can all hang out in the same room together, but sometimes I show them my very best teeth. This is to remind them that we are not on a first name basis yet. I will do this even if they glance in my direction and do not approach me. My foster dad was smart and did a lot of stuff beside me and never looked at me, that is the way I like it. I don’t think I’d be a good match for small children.
I will allow my foster mom to pat me all over, but I prefer to have her on the floor with me, so I can decide how long and how much attention I want. I will crawl in her lap, but I do not want to be picked up. I can get on the furniture, but usually won't if someone is already on it. I will go in a crate on my own and this is handy for going to the vet, a place I can certainly do without!!
I am not leashed trained as I haven’t yet had the courage to venture outside. Hopefully that comes soon because I get so excited when my foster mom comes home from walking the other dogs, I think I’d definitely enjoy going with them. I get so happy to see everyone, I am bouncing and tail wagging like crazy. It lets my foster mom know that a playful dog is hidden deep inside. I don’t really like toys, have not really cared for food games or puzzles. Unless there is a significant reward I won’t work very hard, if at all. I am also a silly animated dog at meal times, otherwise I am hard to convince to come out of my bed. I am not destructive in the least.
My bed, well, I love it. I had a nice fluffy one waiting for me and I love it. It is my safe space and I don’t want ANYONE to bother me when I am there. My foster mom really wanted me to join the pack so my bed is close to everyone, which is fine. At night I have a bedroom bed. I am fine with that and am happy in the bedroom with everyone, I totally get my nighttime routine. I cannot be convinced to get on the human bed. I have climbed on to explore but not to sleep. I really don’t like other dogs in my personal space when I curl up so maybe if no dogs where up there, I might.
As far as other dogs go, that is another uncertainty. I like my foster brothers, who are all very chill, but I am not part of the pack. I might choose to be near them if I am nervous, but I might want them to buzz off too. I definitely don’t want them near my bed or dinner. I think I like them around, but I don’t think I’d like a dog up in my face. Cats? They are to chase and howl at aren’t they? The one here is for sure, the few times I’ve seen her. So maybe best that there's none of them in my new home.
My foster mom is dying to get me outside, but the last few weeks have been so cold, and I have showed zero interest. I have a feeling if the weather goes above zero I will be forced out that back door. While I am an indoor dog I am a very tidy, pee pad trained girl. My foster mom really thinks once I'm brave enough to take on that big, scary world outside, I'll blossom into my best self in no time.
I am not going to be the dog for every family, as I'll need a very patient family, but my cuteness is undeniable. The reward of becoming my friend is significant, to earn my trust is a gift. My foster mom says they don’t come any prettier, my brown eyes melt her heart.
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