The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: November 11th-18th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 151 (183, 192, 156, 241) *230
Sold: 129 (169, 162, 151, 163) *230
Sale To Listing Ratio: 85% (92%, 84%, 97%, 87%) *100%
Price Changes: 34 (30, 53, 30, 39) *88
Listings that went conditional/pending: 136 (171, 186, 176, 215) *242
Expired/Cancelled/Withdrawn: 36 (46, 99, 38, 42) *62
Total Active Halifax/Dartmouth Inventory: 909 (916, 942, 954, 983) +1,472
Absorption Rate in weeks: 6 (6, 6, 6, 5) *7
Single Family Home Stats
Active Single Family Home: 297 (311, 331, 327, 347) *652
Average Single Family Home List Price: $450,208 ($469k,$472k,$479k,$455k) *$416k
Average Single Family Home Selling Price: $495,517 ($506k,$509k,$508k,$491k) *$418k
Single Family Home Sale to List Ratio This Week: 110% (108%,108%,106%,108%) *101%
Median Single Family Home List Price (6 mo): $389,900 ($340k,$386k,$387k,$380k) $350k
Median Single Family Home Sold Price (6 mo):$436,500 ($436k,$435k,$435k,$435k)*$354k
Average Days on Market Single Family Home: 15 (20, 17, 20, 18) *38
Active Condos: 60 (56, 63, 58, 68) *123
Average Condo Listing Price: $351,084 ($435k, $474k, $417k, $412k) *$299k
Average Condo Selling Price: $376,578 ($429k, $458k, $433k, $435k) *$294k
Condo Sale to List Ratio This Week: 107% (99%, 97%, 104%, 105%) *98%
Median Condo List Price (6 mo): $325,000 ($325k, $325k, $320k, $320k) *$270k
Median Condo Sold Price (6 mo): $341,000 ($348k, $345k, $342k, $340k) *$270k
Average Days on Market Condos: 8 (13, 19, 32, 10) *71
Active Vacant Lots: 416 (416, 409, 423, 430) *547
Slightly reduced activity this week, but it was a short week since trading in real estate pauses on Remembrance Day (which is appropriate). Still, we did see a decent amount of new additions to the market, sales, and listings that accepted offers this week causing a slight reduction in the overall inventory. The six month median held fast this week, other than the six month condo sale price, which received sizeable reduction, punting it back to the values as reported last month. The absorption rate remains insanely low, as well as the overall inventory, which has caused the same fevered activity for new listings as reported in the Spring. If annual trend gets back on track, we should see the overall inventory and activity in general decline until it hits the bottom of the market year; last week of December. The big question on everyones mind is if this market will sustain for 2022, or if will continue to cool and perhaps enter into a correction year. More and more folks I talk with are of the mind that prices are here to stay, and if there is a correction it will be small. Issue with that is that we witnessed one of the largest upticks in property values Halifax has ever seen in such a short time, so prices, although drastically higher than two short years ago should only remain should the market outlast the period of volatility. Meaning, the longer this market persists, the more properties sell at these inflated prices, the more likely the overall values will stay. Should we hit a stop sometime soon and the market begins its turn, property values will become vulnerable as inventory rises and interest wains. Only time will tell, so be sure to stay on track by tuning into the Halifax Real Estate Blog! Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
Hi everyone! My name is Chandler and I am a 4 year old, border collie mix boy weighing around 45lbs. I came from Texas several months ago, I thought I had found my forever home but turns out I wasn't quite home yet.
I'm a little shy and it takes me a little more time to trust people, but once I warm up I love a good scratch, especially on my ears or under my chin, and I also love a good cuddle, particularly first thing in the morning!
I enjoy the company of other dogs, but prefer to watch rather than play. I'm unsure of kids, I tend to scare easily, so I would do best in a kid-free home. As far as cats go, I haven't been around any, so I'm not sure about them yet.
I walk really well on my leash, but it's really important that I'm always on a double leash because I am able to back out of my harness when I get scared. I can sit and come when called, but I will need some patience and training when it comes to body handling and confidence building; I tend to get nervous if I feel trapped or cornered and when walking through doorways.
I'm not a big fan of toys right now, but I may learn to enjoy them over time. Car rides on the other hand, I'm definitely a fan of those! I'll just curl up and have a nap on route to our next big adventure together!
At home, if there is someone around, I like to follow them around the house. If I'm alone I won't be destructive but I think I'd like someone home more than not. I am happy to say I am housetrained as well!
I know I have a few things to work on, but I promise that your patience will be rewarded! So, if you're looking for a sweet and smart pup to join your family, I'm ready to go to my forever home with you!
Do you think we'd be a good match?
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
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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Newest Blog post HERE
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