The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: November 12th-19th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 230 (261, 312, 313, 363) *151
Sold: 230 (198, 242, 225, 208) *141
Sale To Listing Ratio: 100% (76%, 78%, 72%, 57%) *93%
Price Changes: 88 (105, 74, 86, 71) *84
Listings that went conditional/pending: 242 (228, 246, 283, 239) *155
Expired/Cancelled/Withdrawn: 62 (100, 44, 59, 48) *60
Total Active Halifax/Dartmouth Inventory: 1,472 (1,573, 1,649, 1,632, 1,705) +2,657
Absorption Rate in weeks: 7 (7, 7, 7, 8) *17
Single Family Home Stats
Active Single Family Home: 652 (739, 783, 798, 835) *1,372
Average Single Family Home List Price: $416,237 ($425k,$387k,$427k,$380k) *$381k
Average Single Family Home Selling Price: $418,394 ($431k,$391k,$430k,$390k) *$371k
Single Family Home Sale to List Ratio This Week: 101% (101%,101%,101%,103%) *97%
Median Single Family Home List Price (6 mo): $349,500 ($345k,$343k,$340k,$340k)*$310k
Median Single Family Home Sold Price (6 mo):$354,150 ($350k,$350k,$350k,$349k)*$305k
Average Days on Market Single Family Home: 38 (40, 38, 28, 29) *66
Active Condos: 123 (133, 151, 162, 162) *195
Average Condo Listing Price: $299,323 ($390k, $302k, $341k, $310k) *$240k
Average Condo Selling Price: $294,311 ($385k, $302k, $332k, $311k) *$234k
Condo Sale to List Ratio This Week: 98% (99%, 99%, 97%, 100%) 98%
Median Condo List Price (6 mo): $269,900 ($270k, $269k, $270k, $262k) *$249k
Median Condo Sold Price (6 mo): $270,000 ($270k, $270k, $270k, $267k) *$239k
Average Days on Market Condos: 71 (24, 56, 60, 31)*57
Active Vacant Lots: 547 (550, 560, 535, 548) *880
Reductions in all tracked products again this week, as the inventory hits new lows. Just when you thought the year would have a sleepy end, we have a first on the blog this week, parity between new listings and the amount of listings that sold, causing the sales to list ratio to report at 100%. Pretty crazy stuff, but it's 2020, so anything goes this year! Another incredible statistic group are the values. Last year at this time the market was reporting a 6 month median range of listing of $310k list and selling around the $305k mark. In the short time from then until now, and I dare say most of that gain has been since March of this year, we are now reporting a list of $350k and selling at $355k for the median single family home. Rewind to this week of 2018, those values are $285k and selling at $280k. Needless to say, if you purchased your property prior to 2020, you will do well when you list in the current market. Speaking of values, the weekly values didn't fair as well as the median prices did, taking a decent reduction this week as we power to the end of November. So it seems that 2020 has lots of gas left in the tank, or perhaps a few more tricks up the sleeve, in either case it has been a year for the books so far, so now to see if the ending will be fireworks or the slow fizzle that annual trend dictates. Stay tuned to the blog to find out! Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Millie needs to be properly exercised and mentally stimulated, while also teaching her how to behave. She is a busy adolescent that can be extremely loving and kind, but is mouthy, jumps up, humps, and steals things she shouldn't (she loves to play keep away). Millie pulls on leash but stays close and recalls well off-leash. Millie has separation anxiety and destroys crates in a panicked attempt to escape. Luckily Millie can be left home in a clean, doggy-proof area without causing damage to the furniture.
Millie has not been socialized with dogs or cats and seems afraid of any dogs she sees on walks. She is also afraid/reactive to strangers, cars (both inside and when they drive by her), as well as to reflections and loud noises. Due to how many fears she has, we recommend no children for her. Millie has prey drive with small critters. Enrollment in general obedience training is mandatory.
This "cuddly companion" is available through SPCA Nova Scotia, 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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Newest Blog post HERE
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