The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: May 6th-13th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 251 (261, 296, 378, 450) *194
Sold: 303 (269, 301, 296, 316) *120
Sale To Listing Ratio: 121% (103%, 102%, 78%, 70%) *62%
Price Changes: 39 (42, 59, 60, 60) *70
Listings that went conditional/pending: 267 (264, 346, 358, 363) *169
Expired/Cancelled/Withdrawn: 43 (79, 48, 44, 50) *40
Total Active Halifax/Dartmouth Inventory: 880 (917, 994, 1,031, 1,025) +2,086
Absorption Rate in weeks: 3 (3, 3, 4, 4)*18
Single Family Home Stats
Active Single Family Home: 290 (320, 364, 407, 437) *1,099
Average Single Family Home List Price: $445,594 ($427k,$419k,$413k,$434k) *$371k
Average Single Family Home Selling Price: $493,959 ($480k,$477k,$463k,$496K) *$369k
Single Family Home Sale to List Ratio This Week: 111% (112%,114%,112%,114%) *99%
Median Single Family Home List Price (6 mo): $379,900 ($380k,$380k,$380k,$380k)*$320k
Median Single Family Home Sold Price (6 mo):$415,000 ($415k,$411k,$401k,$400k)*$320k
Average Days on Market Single Family Home: 21 (12, 14, 20, 11) *60
Active Condos: 74 (90, 101, 106, 99) *148
Average Condo Listing Price: $376,797 ($336k, $280k, $329k, $340k) *$255k
Average Condo Selling Price: $396,788 ($369k, $348k, $355k, $366k) *$247k
Condo Sale to List Ratio This Week: 105% (110%, 124%, 108%, 108%) 97%
Median Condo List Price (6 mo): $304,900 ($305k, $303k, $310k, $309k) *$269k
Median Condo Sold Price (6 mo): $325,000 ($325k, $325k, $325k, $321k) *$263k
Average Days on Market Condos: 16 (27, 10, 11, 66, 30) *54
Active Vacant Lots: 406 (403, 412, 397, 369) *707
Well, the inventory continues it's decent this week, but not for the reasons you may think! Sure, there were a few less listings this week causing the sales to list ratio to soar, but instead of properties withdrawing from the market being the main cause of the reduction, it's the sustained buyer pressure that continues to decimate the inventory here in Halifax. There was actually more listings that received and accepted offers this week than last week, which is a bit surprising given the lockdown and the lack of inventory. Average weekly list/sale numbers are up by a lot this week, but the 6 month median list/sales remained relatively unchanged, perhaps indicating a balance on the horizon. The absorption rate is still critically low, and days on market for both tracked products remains incredibly low as well. So we now know that the market will continue to press on, just like the last lockdown, but the question at this point will be what will thing look like on the other end of the lockdown? Will there be a surge of listings who are patiently waiting for it to end, and if so, will they be met with the same bulk of buyers pre-lockdown or have things plateaued to some extent? I have a feeling things will keep surging well into the year, perhaps even into 2022. Still, there are signs that a peak has been reached, or at the least, the climb has slowed significantly from the beginning the the year. Only time will tell, so 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"
My name is Casper and I am a 2 years old, 25lbs mixed breed boy. I was found as a stray on the streets of Egypt and made my journey to Canada a few weeks ago.
I am a very sweet and gentle boy. I am so happy to be in NB and will prance around when I am excited. I absolutely LOVE going out and exploring. I adore going for walks and I do a little happy dance when see my foster mom put on her shoes to go outside. I am very good on a leash.
I also love the car but it’s best if I have a seat belt or secure me in some way because I don’t like to stay still! I crawl all over the car to get a view out every window! I even try to escape out the window sometimes! In fact, I am a bit of an escape artist and very sneaky. I will try to sneak out the door if you are not paying attention to me and am always looking for some food to steal off the counter. If I ever need to be tied it’s very important I am on a rope that I can’t chew through as I can chew through a leash in a few seconds!
I tolerate baths and am fine being handled but can sometimes be sensitive to being touched on the feet and face. Other times I don’t mind it at all and love getting rubs on the nose. I am still learning to trust people and know that it is safe for people to touch me. I am very friendly but may be a bit nervous when meeting new people but warm up fairly quickly.
I am a huge cuddler! I love snuggling on the couch. I will rub myself against my foster mom and dad for pets. I am very good at night. If I need to go out I will scratch and cry in my crate to let you know but I usually sleep through the night without issue! I do like to sleep in the bedroom with my foster parents because I don’t like being alone, and I would love to be able to snuggle in bed with my new owners all night if I am allowed to.
I have been very good in my foster home. I have only had one accident so I would say I am fully housetrained now as long as I am able to go outside regularly. I will scratch on the door to go out when I need to go. I do tend to mark my territory when I go into a new place for the first time but once I get settled, I know I need to do my business outside.
I have not been destructive at all but am still learning what I am allowed to play with and what I am not allowed to play with in the house. I need a lot of supervision until I get settled. Getting lots of exercise every day keeps me from getting bored and getting in trouble at home.
I do have resource guarding tendencies. It is EXTREMELY important that my new home be completely puppy proofed so that there is no access to food or garbage I want to eat. I am fast and sneaky and will find anything that smells good and steal it. And then I won’t give it back! I may growl or bite. Remember I have never had anything valuable to myself in my life and am still learning that I am safe and will get a good meal every day. I am still learning that I don’t need to fight for or protect everything that I can find. I am good at meal time when my fosters give me my meal (because I know that they are giving it to me and aren’t going to take it away) but if I find something and someone tries to take it from me I get very upset. My foster parents are working on this with me and are helping me by practicing “leave it” with some yummy treats so that I will trade what I am not supposed to have for a treat. Pieces of meat or cheese are my favorites.
My new home will need to make sure all garbage is out of my reach (in the house, including bathrooms, bedrooms, etc, and in the car), and that no food is ever accessible on the counters or tables, and that my own food is where I can’t see it or access it or I might start guarding that too.
Because of this I should live in an adult only home. I am good around kids but it would be too likely for something to get left where I can reach it with kids around. One thing that my foster parents have been doing is keeping me on a leash at all times so that they can pull me away from anything I get into without getting too close if I get cranky. I should only be given toys while under close supervision until my resource guarding improves. I am a very innocent looking guy but can be very feisty if someone is trying to take things from me.
I am scared and reactive towards brooms, mops, rakes, dusters, vacuums etc. I may have had a previous bad experience with them. It’s better if I am away when cleaning.
I am good with other dogs and am starting to learn to play with my foster siblings. As long as other dogs can respect my space we will get along great! I have not met any kitties but I don't think they'll be ideal for my new home. I would love to go to a home with a parent who is home all day, or at least most of the time. I don’t like Being alone and get very attached to my people. I follow them around everywhere! I am not super active but also not low energy. I
still get bursts of puppy energy so an active household who will take me for a walk every day would be best. I am very well behaved when I am tired out!
I am a very smart boy. I have learned “sit” but I am still learning my name and other basic commands. I am like a kitty cat and like to jump and climb on everything!
I can’t wait to settle in to my forever home.
My adoption fee is a $400 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 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