The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: November 25th - December 2nd, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 118 (147, 151, 183, 192) *229
Sold: 143 (159, 129, 169, 162) *194
Sale To Listing Ratio: 121% (108%, 85%, 92%, 84%) *85%
Price Changes: 38 (42, 34, 30, 53) *72
Listings that went conditional/pending: 169 (168, 136, 171, 186) *208
Expired/Cancelled/Withdrawn: 57 (24, 36, 46, 99) *123
Total Active Halifax/Dartmouth Inventory: 778 (877, 909, 916, 942) +1,360
Absorption Rate in weeks: 5 (6, 6, 6, 6) *6
Single Family Home Stats
Active Single Family Home: 239 (282, 297, 311, 331) *575
Average Single Family Home List Price: $474,955 ($469k,$450k,$469k,$472k) *$398k
Average Single Family Home Selling Price: $521,521 ($508k,$496k,$506k,$509k) *$403k
Single Family Home Sale to List Ratio This Week: 110% (108%,110%,108%,108%) *101%
Median Single Family Home List Price (6 mo): $389,900 ($340k,$390k,$340k,$386k) *$350k
Median Single Family Home Sold Price (6 mo):$436,500 ($437k,$437k,$436k,$435k)*$355k
Average Days on Market Single Family Home: 19 (22, 15, 20, 17) *36
Active Condos: 49 (61, 60, 56, 63) *130
Average Condo Listing Price: $345,975 ($382k, $351k, $435k, $474k) *$385k
Average Condo Selling Price: $370,044 ($405k, $377k, $429k, $458k) *$377k
Condo Sale to List Ratio This Week: 107% (106%, 107%, 99%, 97%) *98%
Median Condo List Price (6 mo): $325,000 ($325k, $325k, $325k, $325k) *$270k
Median Condo Sold Price (6 mo): $34o,000 ($341k, $341k, $348k, $345k) *$270k
Average Days on Market Condos: 13 (33, 8, 13, 19) *31
Active Vacant Lots: 372 (404, 416, 416, 409) *513
And the hits keep coming. The already decimated inventory took another significant loss again this week, reporting almost half of the total amount from last year at this time, but single family homes and condos are reporting well under level. Again, annual trend does command this reduction around this time, it just seems amplified by the already record low availability which is causing some concern for the inventory recovery in 2022. New listing additions have stalled a bit as well, which may be caused by the lacking inventory since sellers with the need to move and stay in HRM find themselves without options. Sales are still doing very well however, solid reports week to week, regardless of this inventory void. Despite the lack of property for sale, average values and the overbid percentages seem to be holding, which lends to the idea that a correction is actually underway and may start to show more during the 2022 Spring market. So it looks like we are going to end 2021 with a lot of questions and speculation for the market next year, which is not so common for the Halifax market pre-2020. What was a predictable and steadfast market has become anything but, forcing many buyers out as selling prices to rocketed to record heights. Expect the next few reports as we head to the end of the year to look bit off from usual stats, but tis the season for the unexpected! Thanks for stopping by and stay safe out there!
The Weekly "Adogtable"
This beautiful Amstaff mix is looking for that special Human. Ranger is a young (just under 2 years old) high energy good natured dog that would do well with some consistent exercise, training and steadfast love. Ranger is very friendly with people. He loves to play but can get mouthy when over stimulated and will require some gentle training to improve his manners. For this reason we recommend a home with children over 14. Ranger is a good student eager to learn and hungry for attention. We are looking for a patient adopter who will give him the proper exercise, invest in his training by taking him to classes and working with him daily. For this lucky person we feel Ranger has the potential to be a truly excellent companion and deserves the best.
You can find out more about our adoption process here:
Fill out an application here: https://www.novascotiaspca.ca/dog-adoption-application/
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
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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah