The Halifax Real Estate Blog Weekly Market Rant and Statistics Update. by Jeremiah Wallace of ViewPoint Realty: November 17th-24th. 2022
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 192 (124, 181, 169, 184) *147
Sold: 98 (87, 131, 91, 129) *159
Sale To Listing Ratio: 51% (70%, 72%, 54%, 83%) *108%
Price Changes: 70 (61, 85, 118, 79) *42
Listings that went conditional/pending: 143 (105, 125, 128, 136) *168
Expired/Cancelled/Withdrawn: 49 (54, 48, 112, 54) *24
Total Active Halifax/Dartmouth Inventory: 1,285 (1,269, 1,299, 1,280, 1,322) +877
Absorption Rate in weeks: 13 (12, 12, 12, 12) *6
Single Family Home Stats
Active Single Family Home: 635 (627, 640, 640, 671) *282
Average Single Family Home List Price: $474,900 ($460k,$519k,$545k,$556k) *$469k
Average Single Family Home Selling Price: $470,000 ($454k,$512k,$541k,$548k) *$508k
Single Family Home Sale to List Ratio This Week: 99% (99%, 99%, 99%, 99%) *108%
Median Single Family Home List Price (6 mo): $459,900 ($450k,$460k,$460k,$460k) *$390k
Median Single Family Home Sold Price (6 mo):$480,000 ($485k,$490k,$499k,$500k)*$437k
Average Days on Market Single Family Home: 31 (35, 31, 26, 27) *22
Active Condos: 97 (96, 99, 106, 107) *61
Average Condo Listing Price: $424,645 ($486k, $455k, $455k, $427k) *$382k
Average Condo Selling Price: $429,276 ($479k, $441k, $449k, $421k) *$405k
Condo Sale to List Ratio This Week: 101% (99%, 97%, 99%, 99%) *106%
Median Condo List Price (6 mo): $394,900 ($390k, $390k, $387k, $390k) *$325k
Median Condo Sold Price (6 mo): $390,100 ($395k, $400k, $400k, $401k) *$341k
Average Days on Market Condos:23 (26, 22, 23, 30) *33
Active Vacant Lots: 412 (407, 415, 405, 415) *404
Bit of an odd one this week starting with the inventory, as plenty of new arrivals hit the streets causing gains in all tracked products. Inventory has made quite the comeback this year, with both single family homes and condo numbers having over doubled from last year at this time. I remember thinking if we had another inventory decimation year like 2021 it would have made for an extremely challenging market year, but as the 2022 market year pressed on, quite the opposite prevailed. Buyer activity recovered this week, with 143 listings receiving and accepting offers, which is not surprising with market prices continuing to stabilize and more property options surfacing. Six month median prices reported strangely this week, taking rather large gains in the average listing prices, but taking similarly sized reductions in selling prices. Speaking of the six month stats, they still look distanced from the values reported last year, however, the gap continues to close week to week. Question at this point is will we match values at some point soon, and how far will we see the correction go? As the overbid amounts continue to plateau, we should get an indication of the settling value once we get back to steady reports of 95-98% sales to list ratios, until then, stay tuned to the blog to monitor the market and stay informed. Thanks for stopping by!
The Weekly "Adogtable"
Hi everyone, my name is Quail, I’m a rambunctious 11 month old American bulldog mix and I’m about 70 lbs. I came from Louisiana a few weeks ago, where I was found as a stray, in search of a better life. I'm now ready to start that search.
On average, it takes 100 shares and 100 likes for a dog to find a home! Please share my story so her forever family will find me!
It’s currently just me and my foster mommy at home, but before I was rescued from the shelter in Louisiana, I was the tester doggy there. They used me to test all the new arrivals because I am pretty chill. That's still somewhat true. My rescuers sent me to another foster with a doggy, some kitties and a toddler to test me. Me and the doggy got along great outside and fairly well inside. I wanted to share my toy with him so I'd drop it so he could take it. Once he went to take it, I snapped at him. I love my toys, I wanted to try to share but couldn't bring myself to go through with it. After though, I'd try to give him kisses to say I'm sorry. This is something I'll need to work on. As I said, outside was great, we played and played but I don’t really know my own size so I was a little rough with him. So a doggy my own size would be more ideal. I was very interested in the kitties, I whined and whined at them but they wouldn't come to see me. As far as toddlers go, nope, definitely not my cup of tea so older kids only please.
I'm still a puppy, so as far as my training goes, everyday I’m getting better on leash, but my foster mom says I’d benefit from a gentle leader as I tend to get excited and will pull a little. My recall is a work in progress so I’m a little bit of a flight risk, but I’m highly food motivated and a quick learner so I don’t imagine it’ll take me long to break out of those habits.
I’m only 11 months old so I have a lot of puppy energy and tendencies so my energy level matches that. My foster mum takes me on several walks a day but she says I’ll probably enjoy a home that has a yard or is near a park so that I can get my energy out that way. When I get wound up, I start playing using my mouth. Because I’m such a big, strong boy, it can hurt. I don't mean to be rough, I just want to play. I love to play fetch and will play for hours if you let me, just don't expect me to always return it to you.
I’m working on my housetraining, it isn’t perfect, but I’ve made loads of progress in a such a short time. My foster mom works full time but if I have someone able to let me out every few hours, I should master it in no time.
I’m good in the car but you may have to lift me in occasionally as I’m still getting the hang of it.
I don’t have separation anxiety and I’ll usually distract myself with a good indestructible toy until someone returns to play with me. If left unattended for too long, I may get into things that are left laying around the house like shoes or books as I am a chewer, but I am crate trained if there’s ever a need to do so.
I’m not a big barker, but I’ll bark a little if I see a bigger dog while on walks or when someone comes to the door but I stop when told. I sleep on my bed sometimes, but I really enjoy sleeping on the couch.
As far as food goes, I love it, so much so that I had an emergency vet visit because I gobbled way too much food when my foster mom was out, which is why I should be crated when you're out. My foster mommy has noticed that kibble with chicken doesn’t agree with my tummy and can cause me to become itchy. I’m a tall boy so I will try my luck if you leave interesting smelling items close enough to the edge of the counter.
I think I’d be best suited in an active family or a home with another pup to play with, just no toys unless we are outside. I’m good with strangers and may come off a little strong as I like to jump on them to greet them, but my foster mommy says I can’t keep doing this and we’ve been working on it together.
I love to give kisses and I’m all around just a very affectionate pup that loves living in my hoomans shadow.
If I sound like the guy you've been looking for, then let my rescuers know that you want to bring me home by submitting an application.
My adoption fee is a $550 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 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah