The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: March 25th - April 1st, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 402 (318, 277, 236, 259) *196
Sold: 295 (216, 185, 198, 201) *140
Sale To Listing Ratio: 73% (68%, 67%, 78%, 78%) *71%
Price Changes: 53 (39, 26, 58, 62) *47
Listings that went conditional/pending: 363 (277, 258, 207, 237) *116
Expired/Cancelled/Withdrawn: 63 (35, 27, 46, 31) *84
Total Active Halifax/Dartmouth Inventory: 911 (916, 872, 859, 891) +2,194
Absorption Rate in weeks: 4 (4.5, 4.5, 5, 5) *14
Single Family Home Stats
Active Single Family Home: 347 (338, 304, 291, 306) *1,177
Average Single Family Home List Price: $450,149 ($485k,$447k,$481k,$469k) *$349k
Average Single Family Home Selling Price: $500,178 ($520k,$477k,$507k,$491k) *$356k
Single Family Home Sale to List Ratio This Week: 111% (108%,107%,105%, 105%) *99%
Median Single Family Home List Price (6 mo): $379,900 ($375k,$370k,$379k,$360k)*$316k
Median Single Family Home Sold Price (6 mo):$395,900 ($387k,$381k,$375,$371k)*$314k
Average Days on Market Single Family Home: 26 (26, 40, 38, 40) *47
Active Condos: 90 (103, 106, 107, 104) *142
Average Condo Listing Price: $431,591 ($363k, $405k, $421k, $372k) *$265k
Average Condo Selling Price: $453,316 ($380k, $426k, $428k, $390k) *$264k
Condo Sale to List Ratio This Week: 105% (105%, 105%, 105%, 105%) 99%
Median Condo List Price (6 mo): $299,900 ($290k, $283k, $283k, $276k) *$253k
Median Condo Sold Price (6 mo): $310,138 ($299k, $280k, $290k, $279k) *$250k
Average Days on Market Condos: 30 (126, 57, 118, 79)*61
Active Vacant Lots: 358 (358, 353, 364, 378) *740
Although the inventory took a hit this week, it appears as though condo's took the brunt of the reduction since the single family home stats gained in numbers. One of the biggest additions to the weekly inventory happened this week as well, with a welcomed 402 properties that decided try their luck with this market. Usually, the end of the Easter long weekend marks the entry to the Spring market, so the hope is that we see a surge of listings turn active during this time to cool the sizzling sellers market a touch. Activity is nothing short of incredible at the moment, just look at the sales this week! There was twice the sales and three times more accepted offers this week compared to this year last time, despite having half the inventory of last years market. Single family home values took a reduction this week on average, but the spread of listing price to sales price was larger, where condo's reported quite opposite with inflated sales values, much higher than the median averages. Both products received increases in their six month median prices/sales numbers this week, continuing the surging property values in the Halifax market. So the hope remains that the Spring market will douse the flames of the fiery Sellers market we find ourselves in at the moment, and we should see the impact of the trend market take hold in the next few weeks, at least that is the hope for buyers out there right now.
Stay tuned to the blog to stay on top of the rapidly changing market, stay safe out there, and thanks for stopping by!
The Weekly Adogtable!
I'm Spike. I am a 10 yr old, 70lb lab mix boy. My owner passed away and his sister took me in but soon realized that I wasn't a fit for their household so they surrendered me to Salcars. I am now ready to start the search for my perfect fit.
I am a very laid back, pleasant and polite senior fella. I walk well on a leash and have shown no aggression towards other dogs or people I've met, and have completely ignored flocks of ducks I see on my walks. I haven't met any cats in my foster home, but I used to live with a cat without any issues. I'm so great with all people but I think I'd prefer older kids as I'm in my golden years and very laid back so the quieter, the better.
I don't mind car rides, although I definitely prefer riding shotgun, and I may bark at other dogs and people I see during the drive. I really enjoy playing fetch and tug in short intervals, but I don't really care for balls. Afterwards, I will happily get myself comfy somewhere and take a nap.
I alway wants to know where my people are, I don't like when they leave the house without me, and I'll get so excited when you return. There's usually someone always home here but occassionally I've been left alone for very short periods with no issues. I also prefer all inside doors open in the house or I will paw at them if you're behind them.
I take my time eating my food and prefer to just eat when I'm hungry and not at set times. My foster parents can touch me all over with no problems. I don't love baths but I don't give you much trouble. I'm terrified of thunder and will whine and stick like glue to my person. I sleep in my doggy bed in the living room and am content doing so as long as bedroom doors stay open. I am completely housebroken, no accidents for this big guy. My foster mom says I'm an all-around awesome dog.
My rescuers noticed I was a little shaky in my back legs when I arrived so I got some xrays and everything was great except severe arthritis in my knees. We discussed operating but at my age and the severity of my arthritis, the vet doesn't feel this would do much good so we've opted for getting me some knee braces. They are ordered, I'm just awaiting their arrival. Because of my arthritis I will need to stay on joint supplements and fish oil for life. Anti Inflammatory meds and/or laser therapy may be an option for me down the road too.
My adoption fee is a 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 I have all my doggy papers to come home to you! You can apply for me at http://form.jotform.com/60895241776264
This "cuddly companion" is available through Save a Life Canada 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
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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah