The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: March 4th-11th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 277 (236, 259, 229, 252) *336
Sold: 185 (198, 201, 187, 178) *158
Sale To Listing Ratio: 67% (78%, 78%, 82%, 71%) *47%
Price Changes: 26 (58, 62, 44, 70) *55
Listings that went conditional/pending: 258 (207, 237, 212, 240) *224
Expired/Cancelled/Withdrawn: 27 (46, 31, 30, 34) *73
Total Active Halifax/Dartmouth Inventory: 872 (859, 891, 912, 938) +2,169
Absorption Rate in weeks: 4.5 (5, 5, 5, 6) *14
Single Family Home Stats
Active Single Family Home: 304 (291, 306, 318, 335) *1,147
Average Single Family Home List Price: $447,183 ($481k,$469k,$464k,$430k) *$393k
Average Single Family Home Selling Price: $477,107 ($507k,$491k,$484k,$445k) *$390k
Single Family Home Sale to List Ratio This Week: 107% (105%, 105%,104%, 103%) *99%
Median Single Family Home List Price (6 mo): $369,900 ($379k,$360k,$360k,$360k)*$315k
Median Single Family Home Sold Price (6 mo):$381,000 ($375,$371k,$370k,$369k)*$310k
Average Days on Market Single Family Home: 40 (38, 40, 33, 38) *59
Active Condos: 106 (107, 104, 100, 101) *137
Average Condo Listing Price: $405,138 ($421k, $372k, $394k, $367k) *$370k
Average Condo Selling Price: $426,582 ($428k, $390k, $405k, $374k) *$375k
Condo Sale to List Ratio This Week: 105% (105%, 105%, 103%, 102%) 101%
Median Condo List Price (6 mo): $283,400 ($283k, $276k, $275k, $270k) *$251k
Median Condo Sold Price (6 mo): $289,950 ($290k, $279k, $279k, $275k) *$248k
Average Days on Market Condos: 57 (118, 79, 79, 19)*78
Active Vacant Lots: 353 (364, 378, 393, 399) *743
It finally happened!! After what has to be the slowest start to the annual inventory gain in Halifax history, the property stock grew ever so slightly this week, which has to be a welcomed sight to the weary buyers out there. It almost felt like the inventory was going to continue to dwindle until there was nothing left, but a glimmer of hope shines through and the hope is that it will continue to brighten as the Spring market takes hold. The value metrics are also up across the board this week, and there is no questions of if those will continue to rise as the bidding war frenzies persist, elevating the numbers beyond any predicted expectation. I almost feel like each week there is a "WOW" reaction to recent listings when their selling price is revealed, and just when I think I can't be shocked, it happens again!
Around this time last year the sellers market was in full swing, but nothing like it is right now. Multiple offers and over asking bids were becoming common, so too was the showing train, but nowadays its high octane when it comes to residential resale. Winning bid amounts are anyones guess, showing trains that maybe last a few days at 15 minute intervals (if they aren't under agreement before the offer deadline), and the latest point of annoyance...the bully offer. The last point being one of the most frustrating for buyers, since not only do they have to find a small opening to book a showing around their personal schedule/work, these bully offers are putting property under agreement before they can even get out to see it at their earliest opportunity. Sometimes showing slots also fill up completely, so no windows are even available to view the property before the offer dealing, and showing "waiting lists" are becoming a thing. Luckily, with the inventory options becoming more abundant, that seems to be a very local/price associated happening, and will hopefully disappear all together. It's not like buyers need more obstacles at the moment, and luckily some agents are putting protocol in place to accommodate the demand and make sure all buyers get a shot, which certainly helps.
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!
Hi all I’m Ritz, a 4 year old, 50lb, Shepard mix who made the long trip from Texas to Canada a couple of months ago in search of a better life. I have my new wheels and had my neuter and dental completed so it's time for me to start the search for my new forever family.
I was shot in the back and left for dead in Texas, thankfully a good samaritan realized that I was still alive and got me help. Unfortunately I was paralyzed by this senseless act of cruelty and do not have the use of my back legs but I don’t dwell on that part of my life. My foster mom says I live my best life everyday. Read on and you will see just how great I am.
Despite my rough start in this world I love everyone I meet. I am most happy when I am with my people whether that is out in my wheelchair or just home relaxing.
My wheelchair provides me the freedom to be more independent. I can go for walks and move around the house by myself. I am still building up my stamina and I'm going for longer rolls each day.
My foster mom says don’t let my puppy dog eyes fool you as I can be stubborn when out for my walks. When I don’t want to go any further I'll just stop and lock my front legs. Luckily, a little nudge or a treat can get me going again.
I am the talk of my block. I love meeting new people and dogs and they all love me too. I think I'd enjoy another canine sibling in my forever home to play with. Sometimes I will chatter/bark but that is just from excitement.
Many new dogs are scared of my wheels but that doesn’t stop me from wanting to make friends. I was fostered in Texas with a number of other dogs without issues.
I am incontinent which means I have to wear wraps/diapers. At first this might seem like a lot of work but really it's not harder just different. Instead of taking me outside to do my business, you just change my wrap/diaper. No biggie. My foster mom learned my bathroom habits in just a couple of days.
I am super smart, I rarely bark, I love everyone, am good with other dogs, non-destructive when left alone, I sleep through the night on my bed, am great in the car and I am a great snuggler. As a bonus, I don't jump on furniture or company, counter surf, chew on things I shouldn’t, need a crate or pull on my leash.
I do get attached to my human(s) and really do not like to be left at home alone so someone home more than not would be ideal. Having said that, my foster mom leaves me alone at home, at least once per day, to work on my separation anxiety. I will whine a bit at first when you leave but then I just curl up and nap. Sometimes I will scoot off of my bed and move around a bit but I've never gotten into anything I shouldn’t. Having another doggy sibling in my forever home may help with this too.
My ideal home would be one that understands my special needs, has a canine friend for me and ideally has someone home more often than not and in return I will shower you with unconditional love and loyalty.
Being special needs, I come with my own accessories. I have a wheelchair, stroller, rear harness lift, interactive toys etc. which will all come with me to my new forever home.
Are you my forever home?! 💙
My adoption fee is a donation to the rescue to help save more dogs like me. I am neutered, vaccinated and 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 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
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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