The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: November 3rd-10th, 2022
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 181 (169, 184, 194, 186) *183
Sold: 131 (91, 129, 114, 115) *169
Sale To Listing Ratio: 72% (54%, 83%, 59%, 62%) *92%
Price Changes: 85 (118, 79, 106, 119) *30
Listings that went conditional/pending: 125 (128, 136, 164, 124) *171
Expired/Cancelled/Withdrawn: 48 (112, 54, 48, 48) *46
Total Active Halifax/Dartmouth Inventory: 1,299 (1,280, 1,322, 1,313, 1,340) +916
Absorption Rate in weeks: 12 (12, 12, 12, 12) *6
Single Family Home Stats
Active Single Family Home: 640 (640, 671, 678, 703) *311
Average Single Family Home List Price: $518,983 ($545k,$556k$528k,$606k) *$469k
Average Single Family Home Selling Price: $512,033 ($541k,$548k,$523k,$599k) *$506k
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 ($460k,$460k,$460k,$450k) *$390k
Median Single Family Home Sold Price (6 mo):$490,000 ($499k,$500k,$501k,$502k)*$436k
Average Days on Market Single Family Home: 31 (26, 27, 27, 31) *20
Active Condos: 99 (106, 107, 113, 110) *123
Average Condo Listing Price: $454,858 ($455k, $427k, $470k, $506k) *$435k
Average Condo Selling Price: $441,550 ($449k, $421k, $453k, $442k) *$429k
Condo Sale to List Ratio This Week: 97% (99%, 99%, 96%, 99%) *99%
Median Condo List Price (6 mo): $389,900 ($387k, $390k, $390k, $385k) *$325k
Median Condo Sold Price (6 mo): $400,000 ($400k, $401k, $405k, $404k) *$348k
Average Days on Market Condos: 22 (23, 30, 33, 10) *13
Active Vacant Lots: 415 (405, 415, 394, 394) *416
Slight gain in inventory this week, that's right... gain. Not in the areas where you would think, like single family homes, or condos, but it seems as though the miscellaneous variables like vacant land puffed things up this week to push it into the gain margin. Values for single family homes dropped significantly this week, and there was also another 10k reduction from the overbid amount, which was the largest correction we have seen in a couple months. I would anticipate this stat to continue the trot towards parody in the short term, but the question will be where it lands in the long term. So a rather regular week, for once, this week. From the front lines, there has been a significant drop in overall activity, including showings and the like, but that is quite normal given the season. We are also very much in a stand-off market it seems. Sellers are still holding onto the hope of the big gains of early 2022, but things have shunted drastically since then, and buyers are the first to explain that. Still, lots of gas in the tank lest before closing out the season, so be sure to stay tuned to the big to stay on top of things. Thanks for stopping by!
Lots of activities tomorrow, and plenty of options for your chance to go a take in a remembrance day service. Some ideas can be found here, but all you need to do is pop down to a legion around 10:30am to take in the service. Lest we forget.
The Weekly "Adogtable"
My name is Rocky and I am a 10 year old, Chihuahua mix male weighing about 11lbs. I came all the way from Louisiana a few weeks ago, and I am so happy I did. I was aptly named, as I am a fighter. Now I'm ready to start the search for my forever family.
On average, it takes 100 shares and 100 likes for a dog to find a home! Please share my story so my forever family will find me!
You’d never know that I came from a cruelty confiscation as my foster mom says I am the SWEETEST little old man she has ever met. I was instantly affectionate and looking for love and pets. I have a lot more energy than she expected, and have the bubbliest personality.
I have five foster dog siblings about the same size and age as me. I get along with everyone. Foster mom thinks I’d do well in a home with a playful pup my age, or would be just as happy to get all the love to myself. My siblings would have to be accepting of my personality, and be ok with me tiring out quicker than a young dog. I have a cat in my foster home, I never go looking for her, but I do bark if I see her. My foster mom thinks I may not be a great match with cats especially ones that don’t hide away like this one.
I haven’t been tested with kids, but foster mom thinks kids who can respect my small size and age would be just fine! I still have a lot life left in me to give and play!
I am house trained. I have learnt this new behaviour in my foster home. I will need reinforcement of this good behaviour in my new home. Speaking of learning, I’m also learning that my foster moms food is not mine, and I’m not supposed to beg. I don’t understand why, but she’s working with me to learn.
I can be a bit of a barker, I would probably not be suited to apartment life. I would probably react to strange sounds and activity if they were around me. It is quiet here, and so am I. Except if you want to talk, I love to chat!
Foster mom cannot believe how good I am on a leash. I don’t pull at all! We currently walk in very quiet places. I love going for a nice walk and have easily done 5k at a leisurely pace. I do have one thing to work on and that is barking at dogs when I am leashed. I am quite reactive but with the correct training, I'm sure I can get better. I've met lots of dogs since being here with no issues. I really love the outdoors and since I have a fenced backyard right now I can usually be found outside. I love to to play, especially fetch, and I also love to zoom around on my own.
Because I wasn’t well cared for in my last home, I have since had several teeth removed, and I am feeling so much better! I have also been neutered and am healing well! The nice doctor told me I have a significant heart murmur but he doesn’t think I’m at risk for anything like congestive heart failure anytime soon!
I really am a sweet boy and just want to love you and make you happy, so if you can be patient with me and help me, I promise you I will be the perfect boy. I love snuggling and being near you, and my foster mom knows I am going to make one lucky family very happy. Are you that family?
My adoption fee is a $350 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