The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 20th-27th, 2022

Previous weeks numbers in brackets)

*Previous Year's Stats​

Total Market
New/Back to Market Listings: 184 (194, 186, 209, 190) *156
Sold:  129  (114, 115, 97, 112) *151
Sale To Listing Ratio: 83% (59%, 62%, 46%, 59%) *97%
Price Changes: 79 (106, 119, 132, 83) *30
Listings that went conditional/pending: 136 (164, 124, 131, 104)  *176
Expired/Cancelled/Withdrawn: 54 (48, 48, 128, 57) *38
Total Active Halifax/Dartmouth Inventory:  1,322 (1,313, 1,340, 1,333, 1,368) +954
Absorption Rate in weeks:  12 (12, 12, 12, 12) *6

Single Family Home Stats
Active Single Family Home: 671 (678, 703, 695, 708) *327
Average Single Family Home List Price:  $555,493 ($528k,$606k,$508k,$470k) *$479k
Average Single Family Home Selling Price:  $547,775 ($523k,$599k,$499k,$463k) *$508k
Single Family Home Sale to List Ratio This Week: 99%  (99%, 99%, 98%, 99%) *106%
Median Single Family Home List Price (6 mo): $459,900 ($460k,$450k,$450k,$460k) *$387k
​Median Single Family Home Sold Price (6 mo):$500,000 ($501k,$502k,$505k,$510k)*$435k
Average Days on Market Single Family Home: 27 (27, 31, 27, 28) *20

Condo Stats
Active Condos:  107 (113, 110, 108, 108) *58
Average Condo Listing Price:  $427,205 ($470k, $506k, $427k, $445k) *$417k
Average Condo Selling Price: $421,044 ($453k, $442k, $497k, $409k) *$433k
Condo Sale to List Ratio This Week: 99% (96%, 99%, 98%, 96%)  *104%
Median Condo List Price (6 mo): $389,900 ($390k, $385k, $382k, $385k) *$320k
Median Condo Sold Price (6 mo): $401,250 ($405k, $404k, $405k, $408k) *$342k
Average Days on Market Condos: 30 (33, 10, 33, 28) *32

Active Vacant Lots: 415 (394, 394, 384, 403) *423

Market Rant
Inventory held fast again this week, which continues to be a surprise since we usually see all tracked products reduce at this time until the lowest point of the year... Christmas. It's been a wild couple of years, so I'm not shocked that the balancing market would be just as unpredictable. Both Single family home and Condo levels did take minor reductions this week, but vacant land kicked things up a bit, almost reaching the same amount as last year at this time. Vacant land does tend to be the least desirable and slowest moving of the three, likely due to financing and unique buyer for this type of product.  I imagine the loss of the surging sellers market has helped these lots stick around a bit longer, with hopes of selling them off at a premium to builders, or the like, are all but dashed as builders scramble themselves to offload their own products.

Another setback for our market this week with yet another interest rate hike, but this hike was actually less than what was expected, as part of an action plan amid fears of a pending recession. The hikes, intended to fight inflation, seemed to hit at a time when the market was naturally correcting anyways, causing a supercooling effect, and in a smaller market like ours we really felt the sting quickly. As the market continues to drop the hope is that the hikes will become dynamic, like this one, and move left or right depending on the need and not just because it was "planned for" at the beginning. Yet another key point to keep an eye on, and I have you covered! Make sure to stay tuned to the blog, and stay informed. Thanks for stopping by! 

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The Weekly "Adogtable"

Hi everyone, I'm Buster, a one year old, 25 lb, male Cur mix. I came all the way from Louisiana several weeks ago in hopes of finding my furever family in the beautiful Maritimes. Sadly I am still waiting for someone to choose me as theirs.

I am currently living in Nova Scotia with a new foster family so thought it would be good to update my info! 

My foster home includes a few other dogs, and I love them all! I’m a happy-go-lucky guy with lots of energy. Sometimes older dogs may not like how energetic I am, but I just want to play! I like everyone I meet including kids, cats and other dogs. I think I’d love a young family that is active and fun. I am getting about 3-4 twenty minute walks a day here and that has resolved my energy, house training and chewing issues! I love toys of all kinds and I’ll need some available for me to chew on. I love the outdoors! 

I am working on my house training and it is coming along but I will need my walks to do my business. I only go potty on a walk! 20 mins each time is fine though! 

I don’t like being home alone, as you can imagine since my previous humans never did come back. In my new foster home, I do not like the crate. I will go in and be quiet, but you have to catch me and force me into it so I’d really prefer not to have to go in one if possible. My new foster mom thinks I would be fine, even in an apt, as long as I have toys to play with and a doggy playmate. 

Since I am very food motivated, I’ve learned some tricks like how to come when my name is called! This hasn’t been tested outside yet but you can see I’m a smart boy that is willing to learn new things. I also may take a stab at counter surfing when I first get there but a few no's and I'll learn pretty quickly that it's not allowed.

I’ve tried swimming and I really like it, I hope to do some more swimming and adventures with my forever family.

I would really love other canine fur siblings in my home, ones that match my energy level are preferred but definitely ones who will play with me. I do have some energy to burn and a few things to work on but my loving nature will shine through those as I love everything including life and it shows. 

If you are an active person who enjoys lots of activity, preferably in the great outdoors, we could be soul mates! Do you think we’d be the perfect match? If so, please fill out an application so we can meet!

My adoption fee is a $500 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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