The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 21st-28th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 156 (241, 178, 182, 223) *312
Sold: 151 (163, 154, 164, 186) *242
Sale To Listing Ratio: 97% (87%, 87%, 90%, 83%) *78%
Price Changes: 30 (39, 45, 43, 56) *74
Listings that went conditional/pending: 176 (215, 192, 196, 223) *256
Expired/Cancelled/Withdrawn: 38 (42, 50, 60, 48) *44
Total Active Halifax/Dartmouth Inventory: 954 (983, 1,003, 1,035, 1,099) +1,649
Absorption Rate in weeks: 6 (5, 6, 6, 6) *7
Single Family Home Stats
Active Single Family Home: 327 (347, 355, 401, 424) *783
Average Single Family Home List Price: $479,329 ($455k,$408k,$484k,$424k) *$387k
Average Single Family Home Selling Price: $507,494 ($491k,$437k,$514k,$459k) *$391k
Single Family Home Sale to List Ratio This Week: 106% (108%,107%,106%,108%) *101%
Median Single Family Home List Price (6 mo): $387,400 ($380k,$380k,$380k,$380k) $342k
Median Single Family Home Sold Price (6 mo):$435,000 ($435k,$432k,$430k,$430k)*$350k
Average Days on Market Single Family Home: 20 (18, 34, 15, 19) *38
Active Condos: 58 (68, 73, 67, 71) *151
Average Condo Listing Price: $417,379 ($412k, $400k, $380k, $342k) *$303k
Average Condo Selling Price: $433,302 ($435k, $422k, $394k, $370k) *$302k
Condo Sale to List Ratio This Week: 104% (105%, 105%, 104%, 108%) *99%
Median Condo List Price (6 mo): $320,000 ($320k, $319k, $319k, $320k) *$269k
Median Condo Sold Price (6 mo): $342,000 ($340k, $340k, $340k, $341k) *$270k
Average Days on Market Condos: 32 (10, 55, 24, 9) *56
Active Vacant Lots: 423 (430, 439, 438, 474) *560
Dropping like flies! The already decimated inventory continues its southern decent this week with no real sign of improvement likely coming this year, so it seems to be slim pickings until next Spring. That is the hope anyways! Seems as though usual annual trend hides in the shadows, but still lurking, while the spotlight still beams on the Sellers market and current buyer activity. Definitely a shortage of new listings being added to the market each week which is compounding the issue, so the ones that do are seeing a concentration of buyer effort. May seem slower than last year looking at the conditional sale stat, but with only half the selection of products to choose from, it makes sense that it would be lower based on availability alone. As signs point to a slight softening in the market, this lack of ability could cause a dam for buyers, and as they collect we could see the sellers market worsen, reversing the improvements made in the opposite direction. The absorption rate still remains incredible low, and indicates just how bad things could get if it plummets any further. As of now, it would take a short 1.5 months to sell off everything that is currently listed on the market, if new listings stopped all together. We are definitely teetering on the edge of a critical housing shortage, and have been since last year really. The drastic rise in prices and small amount of market softening have been the only lifelines tossed at the Halifax market really, but we are certainly walking a tightrope. Looking for improvement, so stay tuned to the blog to see if it's in the cards for 2021. Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
my name is Chance. I am an 8-year-old male German Shepard, Collie mix guy, weighing in around 65 lbs. My human passed away about a year ago, and I could no longer stay with the family that took me in, so I’m now looking for a new furever home. Could that be you?
My foster parents tell me and everyone who will listen, how smart I am. They discovered that I already know a few commands such as sit, paw, leave it, come, and no. I’m pretty sure I can learn more if you are willing to teach me. And as you can tell from my photos, I’m also very handsome. Great combination!
I am housebroken and I don’t like to brag, but I have not had any accidents while with my foster family. Don’t let my age fool you, I have lots of energy. I love to go out for walks, my foster family takes me on 3-4 walks per day and I walk really well with my harness and leash. I would love to have a fenced yard so I could be outside more and enjoy the great outdoors. I will hang out with you while you are working in the yard, noises such as lawn movers, leaf blowers, etc. don’t bother me at all.
I love my humans (and pretty much all humans I meet) and want to be around them as much as possible. I will sit on the couch with you, lay down on the floor near you while you are cooking, working, or watching TV. I have great table manners; I do not beg for food and will just hang out near the table while you eat. I have not stolen anything off the counter in my foster home, even though I can reach.
I sometimes forget that I’m not a lap dog, because I really want to be! I will lay my head and front paws on your lap while you sit on the couch, but after a few minutes I will move over to my own spot. I’ve been great with all the adults, kids, and teens that I have met so far, I do love to lick to say ‘hello’ and sometimes forget my size and will bump the littler ones a bit. I want to meet almost all the dogs I see on my walks in the neighborhood, big or small. I had a doggy playdate recently and I did well but I’m not sure how to play with four-legged friends yet, so my foster mom is helping me to be better at socializing and learning to play well with others. I can be a little too overwhelming for some doggies. I’ve seen lots of birds, cats, squirrels on my daily walks; but I’m not super interested in them. I might watch them for a minute, then I get bored and keep walking.
I will bark once or twice to let you know that someone is at the door, but then happy to go greet them with you and be welcoming. I don’t love being left alone at home yet, I’m a little afraid that if you leave, you won’t come back. My foster parents are teaching me that you can leave for a bit, then come back to see me but that may take awhile so someone home more often than not would be best for me. I don’t use a crate and I’m not a chewer but be ready for me to be super excited to see you when you do come home. I used to get too excited and jump up on my humans, but I’m learning that not everyone likes that type of greeting, so licks and tail wags are my new thing.
I love to be told when I’m being a good boy and given a little scratch or attention, and I really like being rewarded with treats too. I still get a bit excited in the car, I’m happy to be going anywhere with you (even to the vet 😊), and love sticking my head out the window while you are driving. A seatbelt would be ideal so I don’t bounce all over the place.
My foster home has lots of stairs and I’m not comfortable going up or down the stairs inside the house yet. I am great on outdoor stairs; they are a little deeper than the indoor ones. This means that I sleep on the main floor at night and can’t snuggle with my humans, which I would prefer. So, I sleep on the couch, the rug, or at the bottom of the staircase. If I lived with you, I might like my own spot in your bedroom though so that I’m close by or better yet on your bed with you.
I like my stuffed hippo and sometimes use her for a pillow, just carry her around with me, or ask you to play with us. I do prefer wet food (like most dogs) but that isn't ideal for my teeth so if you mix a little wet food in with my kibble, I will gobble it up but if you give me just kibble, I will graze and eat here and there. My foster mom has been giving me a dental bone/treat everyday to keep my teeth healthy and breath smelling fresh.
I’ve dealt with a lot of changes over the past year or so and need someone to be patient with me while I settle into my new furever home. When I first got to my foster home, I would try to hump my foster mom all the time. This lasted about 2 days then I stopped. So another new situation may bring that out again however if you’re consistent with corrections, it won't take long for me to realize who's the boss and stop.
If you are willing to take a chance on me, you won’t regret it. I am the bestest boy who just needs love and a place to call home to live out my golden years!!
My adoption fee is a 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 Canada 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah