The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty; March 9th-16, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 185 (198, 163, 153, 156) *208
Sold: 100 (84, 91, 83, 88) *153
Sale To Listing Ratio: 54% (42%, 56%, 54%, 56%) *74%
Price Changes: 54 (55, 46, 42, 46)*26
Listings that went conditional/pending: 110 (107, 102, 83, 117) *211
Expired/Cancelled/Withdrawn: 34 (44, 51, 14, 30) *24
Total Active Halifax/Dartmouth Inventory: 1,119 (1,096, 1,056, 1,042, 989) *518
Absorption Rate in weeks: 13 (13, 12, 12, 12) *4
Single Family Home Stats
Active Single Family Home: 529 (525, 485, 490, 461) *166
Average Single Family Home List Price: $625,771 ($541k,$522k,$550k,$565k) *$540k
Average Single Family Home Selling Price: $626,926 ($537k,$522k,$552k,$565k) *$617k
Single Family Home Sale to List Ratio This Week: 101% (99%,99%, 101%, 100%) *114%
Median Single Family Home List Price (6 mo):$479,900 ($480k,$476k,$470k,$470k) *$420k
Median Single Family Home Sold Price(6 mo):$475,000 ($475k,$472k,$468k,$465k)*$481k
Average Days on Market Single Family Home: 32 (31, 36, 37, 37) *8
Active Condos: 78 (78, 68, 71, 64) *42
Average Condo Listing Price: $480,842 ($420k, $419k, $452k, $488k) *$409k
Average Condo Selling Price: $486,978 ($416k, $420k, $448k, $487k) *$504k
Condo Sale to List Ratio This Week: 101% (99%, 100%, 99%, 99%) *123%
Median Condo List Price (6 mo): $409,900 ($410k, $400k, $400k, $400k) *$360k
Median Condo Sold Price (6 mo): $407,500 ($405k, $400k, $393k, $395k) *$390k
Average Days on Market Condos: 22 (23, 20, 28, 19) *7
Active Vacant Lots: 373 (365, 369, 368, 358) *214
With Spring on the horizon, Winter is making quite the exit with regards to both weather and our market! Winter 2022 carried on the sales decline and correction of the deflating market, but the 2023 Winter market was quite the opposite. Prices did seem to hit a bottom right before the holiday season and the expectation was that prices would continue to fall in 2023, but if anything, prices seemed to have stabilized. With a month or so of market activity confirming this, the question has become is it a false bottom, or is our market recovery well underway. Listing activity seems quite average for this time of year, and you can certainly feel the missing pool of buyers out there as properties start to sit much longer than last year at this time. As mentioned in precious posts, certain price points and areas are still seeing multiple offers, and the return of the offer hold window is coming back around as well, both of which are likely surprising to buyers entering the market at this time. All eyes on Spring to see which market will prevail; a continued correction or the return to a stabilized one. Only time will tell, so be sure to stay tuned to the blog to stay informed! Thanks for stopping by!
The Weekly "Adogtable"
Howdy y’all! My name is Calvin, I’m an 8 year old, 14lb, Rat terrier mix boy. I hitched a ride from Texas to the Maritimes, a few weeks ago, because they told me it's the best chance I have at a better life.
I haven't had an easy life and haven't had much socialization before I arrived here. Although I can be very loving and want to be near you all the time, my fears get the best of me. I’m still learning to trust humans so I always keep an arm's length between us.
I'm fine with dogs, in fact, they help give me some comfort and courage. I’m ok being home alone if I have a canine companion but if I’m alone, I tend to cry. Even though, I'm still scared of your touch, I want you near me as much as possible. I’m so happy when you come home, that I’ll show you my happy dance and give you kisses on your head if you kneel down.
I haven't met any kids or cats while here but I don't think an overwhelming household is ideal for me. I am an older gentleman and I would prefer a cozy, quieter home to spend my twilight years in.
My hobbies include walking around the house, laying around, eating and napping. I haven’t shown much interest in playing or toys, it's not something that I'm used to. My favourite times of day are mealtimes. I also love getting treats because I’m such a good boy! Lots of that will be the key to my heart.
I’m not a fan of being picked up yet, nor wearing a harness or collar nor being on a leash. So until I'm more trusting of you, my only adventures to the outside world will be with me in a crate or if you have a completely enclosed area out there with no possible escape routes. I usually do my business on a pee pad, missing occasionally, but it’ll still be early days with you so it will get easier to get me outside with time and patience.
For bedtime, I love sleeping on the corner of the big bed, and I always sleep through the night. Sometimes I let my foster mom give me a few cuddles, as long as it’s dark.
I don't have a whole lot of teeth that my rescuers can see but they definitely want to have them checked out. They're still working on getting me comfortable enough to go. It may or may not happen before I find my forever home, however, if it doesn't, don't worry as my rescuers will be 100% financially responsible for this when I'm ready and able.
I am a scared, little boy who wants to love and be loved so badly but I just haven't found the courage yet. Hopefully in the near future, I can learn how fun life can be and show you how much love I have bursting inside me just waiting to come out!!
My foster mom says that I’m the sweetest most handsomest boy and I deserve a loving home to call my own. Maybe you think so too?
My adoption fee is a $400 donation to the rescue to help save more dogs like me. I am neutered, vaccinated, microchipped, and 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 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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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