Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 272 (273, 262, 324, 290) *386 Sold: 191 (170, 147, 154, 153) *176 Sale To Listing Ratio: 70% (62%, 56%, 48%, 53%) *46% Price Changes: 92 (81, 86, 86, 82)*81 Listings that went conditional/pending: 206 (186, 215, 183, 177) *262 Expired/Cancelled/Withdrawn: 59 (32, 35, 46, 43) *59 Total Active Halifax/Dartmouth Inventory: 1,334 (1,374, 1,330, 1,365, 1,271) *1,010 Absorption Rate in weeks: 8 (9, 9, 9, 10) *5 Single Family Home Stats Active Single Family Home: 679 (703, 665, 698, 637) *483 Average Single Family Home List Price: $604,465 ($559k,$613k,$604k,$649k) *$503k Average Single Family Home Selling Price: $612,205 ($571k,$622k,$612k,$653k) *$570k Single Family Home Sale to List Ratio This Week: 101% (102%, 101%, 101%, 101%) *113% Median Single Family Home List Price (6 mo):$509,000 ($500k,$500k,$500k,$500k) *$450k Median Single Family Home Sold Price(6 mo):$520,000 ($516k,$513k,$506k,$500k)*$540k Average Days on Market Single Family Home: 22 (25, 28, 20, 26) *9 Condo Stats Active Condos: 92 (96, 102, 104, 98) *91 Average Condo Listing Price: $428,644 ($423k, $470k, $454k, $540k) *$408k Average Condo Selling Price: $437,139 ($436k, $485k, $457k, $442k) *$442k Condo Sale to List Ratio This Week: 102% (103%, 103%, 101%, 82%) *108% Median Condo List Price (6 mo): $399,900 ($400k, $400k, $400k, $400k) *$390k Median Condo Sold Price (6 mo): $410,000 ($410k, $407k, $405k, $405k) *$448k Average Days on Market Condos: 29 (13, 24, 22, 22) *7 Active Vacant Lots: 420 (430, 415, 417, 405) *255 Market Rant Needless to say, the ongoing fire situation here in Halifax has had, and continues to have, a major impact on the city. As various departments, volunteers, businesses and people in general scramble to keep the fire contained and support those on the front lines and those that have been impacted, help will be needed now and for the foreseeable future. Please scroll down for a few ways you can assist. With such an unfortunate event, many things here will be effected, including the real estate market. The initial pause of activity while things get under control, the ongoing pause while the aftermath is addressed, and the long term impact from pressure this may cause on our already strained market. HRM is a big place, so there are many areas that continue to press on, much like the pandemic market, things carried on, just differently. At first blush, the stats this week look rather normal, especially for this time of year, but I think the impact will be felt in the coming weeks. The need to rebuild 150+ homes lost in the fires will put pressure on local builders, and there will be many who will not be able to wait out rebuild times, so they may choose to enter the market to purchase. With so little inventory as it is, and builders being as busy as they are catching up from the pandemic market, it seems as though we could see a further entrenchment into the Sellers market. Haligonians are a resilient bunch, and reading all the stories and posts offering aid, volunteering, and the general rally around each other mantra has been heartwarming and inspiring. If you are looking to help, plug in! There are many ways you can! Stay safe out there, and thanks for stopping by! Call to Action! Halifax Needs Your Help!With the devastation of the fires this past week (and still going), In place of the weekly Adogtable feature, I want to provide links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital The Municipality recommends people give to the United Way Halifax’s Wildfire Recovery Appeal as a way to help support communties impacted by the fires. To help out, people can make a financial contribution on the United Way’s website. According to HRM, those funds will help people rebuild in the days to come with basic needs, groceries, connection and mental supports. If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping! Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process. Newest Blog post HERE Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. ListingsPhoto's by Jeremiah
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