The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty; November 18th-25th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 147 (151, 183, 192, 156) *250
Sold: 159 (129, 169, 162, 151) *229
Sale To Listing Ratio: 108% (85%, 92%, 84%, 97%) *92%
Price Changes:42 (34, 30, 53, 30) *88
Listings that went conditional/pending: 168 (136, 171, 186, 176) *208
Expired/Cancelled/Withdrawn: 24 (36, 46, 99, 38) *37
Total Active Halifax/Dartmouth Inventory: 877 (909, 916, 942, 954) +1,492
Absorption Rate in weeks: 6 (6, 6, 6, 6) *7
Single Family Home Stats
Active Single Family Home: 282 (297, 311, 331, 327) *653
Average Single Family Home List Price: $468,520 ($450k,$469k,$472k,$479k) *$400k
Average Single Family Home Selling Price: $507,500 ($496k,$506k,$509k,$508k) *$403k
Single Family Home Sale to List Ratio This Week: 108% (110%,108%,108%,106%) *101%
Median Single Family Home List Price (6 mo): $389,900 ($390k,$340k,$386k,$387k) *$349k
Median Single Family Home Sold Price (6 mo):$437,000 ($437k,$436k,$435k,$435k)*$355k
Average Days on Market Single Family Home: 22 (15, 20, 17, 20) *35
Active Condos: 61 (60, 56, 63, 58) *135
Average Condo Listing Price: $382,247 ($351k, $435k, $474k, $417k) *$378k
Average Condo Selling Price: $405,135 ($377k, $429k, $458k, $433k) *$369k
Condo Sale to List Ratio This Week: 106% (107%, 99%, 97%, 104%) *97%
Median Condo List Price (6 mo): $325,000 ($325k, $325k, $325k, $320k) *$270k
Median Condo Sold Price (6 mo): $341,000 ($341k, $348k, $345k, $342k) *$272k
Average Days on Market Condos: 33 (8, 13, 19, 32) *28
Active Vacant Lots: 404 (416, 416, 409, 423) *551
Over under on the sales to list ratio for the first time in awhile, but we are in the season that anything can happen so it's not too surprising to see oddball stat reports! Localized hotbeds of activity for new listings continue this week, and still a good amount of buyer interest out there as well. Weather has held out for the most part, so buyers are taking advantage, and sellers continue to take advantage of the optimal selling conditions. Holidays are approaching, and it would seem many buyers have tapped out for the rest of the year, taking a rest to recharge the search in the new year, but there are still some hoping to snag a home before the year is out. Two incredible years of an unpredictable and unprecedented market here in Halifax, so the big questions is what's next? Are we destined to keep living this market, with buyers having to salvage what little meat is left on the bones until nothing is left, or will 2022 be the year of change? We still seem to have a lot of buyer pressure from out of province bearing down on our fair city, and the bulk of buyers seems to grow by the day as what little inventory that trickles to the market is snapped up in short order. January 2022 should start the ramp up of activity, but we really won't have a good idea of how things will shape up until the Spring market has passed and we are left with the data to analyze what happened. Of course, there are ways to get indications of how the current market is performing, like checking into the blog, so do that when you can and stay informed! Thanks for stopping by and stay safe out there!
The Weekly "Adogtable"
Thor is a busy puppy that is learning all the rules of the world as he experiences socialization with a great group of dogs in his foster home. Thor walks decent on a leash, is almost fully house trained, and knows most basic commands. Thor does have separation anxiety, and resource guards some things, so this will need to be worked on. Thor loves people, but would be recommended in a home with older children due to his resource guarding. Thor is fine with the resident cat.
This "cuddly companion" is available through Good Bones Dog 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