The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 15th-22nd, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 313 (363, 260, 295, 343) *212
Sold: 225 (208, 209, 238, 226) *142
Sale To Listing Ratio: 72% (57%, 80%, 81%, 66%) *67%
Price Changes: 86 (71, 85, 117, 114) *137
Listings that went conditional/pending: 283 (239, 277, 228, 289) *185
Expired/Cancelled/Withdrawn: 59 (48, 107, 92, 58) *94
Total Active Halifax/Dartmouth Inventory: 1,632 (1,705, 1,656, 1,683, 1,721) +2,934
Absorption Rate in weeks: 7 (8, 7, 7, 7) *18
Single Family Home Stats
Active Single Family Home: 798 (835, 806, 807, 827) *1,609
Average Single Family Home List Price: $426,901 ($380k,$398k,$387k,$413k) *$317k
Average Single Family Home Selling Price: $430,902 ($390k,$404k,$396k,$415k) *$314k
Single Family Home Sale to List Ratio This Week: 101% (103%,101%,102%,101%) *99%
Median Single Family Home List Price (6 mo): $339,900 ($340k,$340k,$340k,$340k)*$310k
Median Single Family Home Sold Price (6 mo):$350,000 ($349k,$349k,$346,$345k)*$304k
Average Days on Market Single Family Home: 28 (29, 42, 29, 34) *58
Active Condos: 162 (162, 147, 159, 162) *199
Average Condo Listing Price: $341,170 ($310k, $315k, $283k, $286) *$228k
Average Condo Selling Price: $331,695 ($311k, $314k, $284k, $298k) *$226k
Condo Sale to List Ratio This Week: 97% (100%, 99%, 101%, 104%) 99%
Median Condo List Price (6 mo): $269,000 ($262k, $250k, $260k, $260k) *$250k
Median Condo Sold Price (6 mo): $269,000 ($267k, $264k, $260k, $260k) *$240k
Average Days on Market Condos: 60 (31, 71, 13, 8)*61
Active Vacant Lots: 535 (548, 546, 562, 567) *891
Well, that was short lived. One week of turnaround activity seems to have us on back our heels, and right back in the grip of the sellers market. Last weeks numbers reported in an oddly optimistic way, one that showed signs that the sellers market had perhaps started to loosen its grip on our city, reporting higher listing numbers and reduced buyer activity, but it was a passing phase. Now, the good news is that we did report an over average amount of new listings for the second week in a row, good right? Unfortunately, those listings were met with surging buyer demand, basically nullifying any hope for an increase in the overall inventory levels. It was a decent drop overall too, with all tracked products feeling the draw. Single family homes had a good week, and I do believe this weeks values have smashed the previous standing with a stellar report of $425k/430k (list/sell). Even at the $400k mark, it would appear there is bidding wars as well, since the average selling prices this week are over the listed prices, so it's safe to say most all products are steeped in the current market. Despite the average price report, the condo 6 month median has finally caught up to the market and reported on list/sell parity, so it's only a matter of time until that exceeds the list price as well. It would seem that we are back to business as 2020 normal this week, but the way things are going anything can happen. Be sure to stay on top of things by checking into the blog, stay safe out there, and thanks for stopping by!
The Weekly Adogtable!
Rebel is a ~10 year old male neutered amstaff mix. (~25 kg)
He would prefer a home with children 16 years and older.
Rebel needs to be the only dog in the home.
Rebel is not available for apartments or condos.
Rebel is a very sweet older gentleman who is looking for a quiet place he can call home. He came to us as his owner was no longer able to care for him unfortunately. Rebel has won our hearts over with his sweet calm disposition. His favorite pastime is to lounge outside and soak in all that sunshine and fresh air. He is normally very reserved and takes his time through life stopping to smell the roses along the way. However, when you bring some of his favorite toys in the mix, Rebel shows his inner puppy! You can see his eyes light up with excitement as he grabs his toy and runs around like a little puppy. Why not put in an application to meet this distinguished boy today!
Rebel is available for adoption from the Dartmouth SPCA. Please use the following link and follow the steps to submit an application and request an appointment: novascotiaspca.ca/adoptionprocess
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
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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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