The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: May 5th-12th, 2022
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 433 (411, 362, 248, 337) *251
Sold: 243 (211, 201, 170, 181) *303
Sale To Listing Ratio: 56% (51%, 56%, 69%, 54%) *121%
Price Changes: 86 (63, 48, 35, 54) *39
Listings that went conditional/pending: 258 (266, 270, 169, 266) *267
Expired/Cancelled/Withdrawn: 46 (61, 35, 38, 38) *43
Total Active Halifax/Dartmouth Inventory: 893 (793, 712, 675, 655) +880
Absorption Rate in weeks: 4 (4, 4) *3
Single Family Home Stats
Active Single Family Home: 422 (332, 293, 269, 245) *290
Average Single Family Home List Price: $565,539 ($501k,$540k,$481k,$504k) *$446k
Average Single Family Home Selling Price: $645,225 ($571k,$619k,$570k,$609k) *$494k
Single Family Home Sale to List Ratio This Week: 114% (114%, 115%, 119%, 121%) *111%
Median Single Family Home List Price (6 mo): $449,900 ($445k,$440k,$430k,$430k) *$380k
Median Single Family Home Sold Price (6 mo):$531,500 ($525k,$520k,$515k,$510k)*$415k
Average Days on Market Single Family Home: 12 (14, 9, 9, 7) *21
Active Condos: 72 (69, 58, 53, 52) *74
Average Condo Listing Price: $397,458 ($515k, $653k, $405k, $454k) *$377k
Average Condo Selling Price: $452,014 ($565k, $705k, $480k, $513k) *$397k
Condo Sale to List Ratio This Week: 114% (110%, 108%, 118%, 113%) *105%
Median Condo List Price (6 mo): $379,900 ($380k, $380k, $372k, $375k) *$305k
Median Condo Sold Price (6 mo): $435,000 ($430k, $425k, $422k, $421k) *$325k
Average Days on Market Condos: 7 (23, 61, 5, 5) *16
Active Vacant Lots: 242 (244, 235, 234, 241) *406
Just like that, we are back on par with inventory levels of last year, which is big news! What almost seemed like a hopeless task (getting back to an inventory gaining market), has finally shed a little light on what some buyers are considering "dark times". You can see it on the websites, and notice it on the front lines though; more options and better selection to toss your hat in the ring for, which is giving a bit of hope back to buyers our there looking for their Halifax property. Listings are still receiving multiple offers in most cases, but the word on the street is that they are reducing in number, despite the overbids not coming down in value. At some point that will change, so it will important to keep an eye on the bids coming in on the last day of the offer holdover period. Single family homes are by far the leader in the gain this week, adding almost 100 new units this week, which was desperately needed, and hopefully more on the way! All eyes on the next few weeks to see if this listing momentum will carry into the rest of the Spring, or if it will be short lived. The good news is that we have stopped the yearly decimation of the inventory. HRM has been reducing its inventory by half each year for over the last two years, and this is the first time we have seen a climb back since the beginning of the pandemic market. Interesting times indeed, so be sure to stay tuned to the blog to stay on top of our rapidly changing market! Thanks for stopping by!
The Weekly "Adogtable"
Hi everyone! My name is Remy and I am a short legged Catahoula mix weighing around 30lbs. I am only between 1-2 years old with my whole life ahead of me. I came all the way from Louisiana to find my forever home and have been loving Canada so far!
I am a very smart boy who knows how to sit, lay down, and come when called. I am fully housetrained and non-destructive. I walk pretty well on a leash, but I do pull a bit sometimes if I see someone or something that I REALLY want to sniff! However, I respond well to a firm “no” when I’m getting into something I’m not supposed to.
I love going for walks and have adjusted quickly to the different sights and sounds of the city. I do have some vision issues due to my color/genetics, but it doesn’t slow me down at all! I’m super friendly with other dogs and people and steal the hearts of everyone I meet! I take a little longer to warm up to men but as long as they give me my space and let me approach them first, we’ll become best friends!
My absolute favourite thing to do is snuggle up on the couch. When I see my foster mom heading for the living room, I get so excited and immediately jump up and lay beside her for cuddles! I like to keep her in sight so sometimes I’ll follow her around a bit. I’d much rather sleep in her bed but I will sleep in my own. I whine a little when left home alone, but usually can settle down on my own and am sleeping by the time anyone comes home!
I am usually great with visitors to my foster home, but I have exhibited a bit of resource guarding lately over my foster mom when people came to visit, nipping at them. I would definitely be better suited in a home with someone who has dog experience and can help me build my confidence. I have not been tested around kids or cats yet, or with other dogs in the home.
All in all, I am a super sweet, active, and loving boy who needs a little help to be the best me that I can be. I can’t wait to find my forever family.
My adoption fee is a $400 donation to the rescue to help save more dogs like me. I will be neutered soon, I am 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 the Save a Life Canada Animal Rescue, 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah