The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 26th - November 2nd, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 209 (243, 269, 216, 260) *169
Sold: 117 (119, 123, 98, 116) *91
Sale To Listing Ratio: 56% (49%, 46%, 45%, 45%) *54%
Price Changes: 116 (132, 141, 92, 135) *118
Conditional Sale: 135 (168, 152, 113, 174) *128
Expired/Cancelled/Withdrawn: 140 (47, 58, 39, 114) *112
Total Active Halifax/Dartmouth Inventory: 1,525 (1,583, 1,585, 1,521, 1,499) *1,280
Absorption Rate in weeks: 13 (14, 14, 14, 13) *12
Single Family Home Stats
Active Single Family Home: 809 (834, 834, 792, 768) *640
Average Single Family Home List Price: $544,198 ($568k,$548k,$537k,$555k) *$545k
Average Single Family Home Selling Price: $544,601 ($569k,$552k,$539k,$561k) *$540k
Single Family Home Sale to List Ratio This Week: 100% (101%, 101%,101%, 101%) *99%
Median Single Family Home List Price (6 mo):$519,900 ($525k,$525k,$525k,$529k) *$460k
Median Single Family Home Sold Price(6 mo):$535,000 ($536k,$537k,$540k,$545k)*$500k
Average Days on Market Single Family Home: 27 (32, 23, 32, 23) *26
Active Condos: 124 (126, 128, 122, 129) *106
Average Condo Listing Price: $492,728 ($444k, $530k, $505k, $462k) *$455k
Average Condo Selling Price: $492,378 ($433k, $517k, $511k, $460k) *$449k
Condo Sale to List Ratio This Week: 99% (98%, 98%, 101%, 99%) *99%
Median Condo List Price (6 mo): $429,950 ($430k, $430k, $430k, $430k) *$387k
Median Condo Sold Price (6 mo): $440,000 ($444k, $443k, $440k, $440k) *$400k
Average Days on Market Condos: 31 (20, 22, 34, 13) *23
Active Vacant Lots: 407 (431, 428, 426, 423) *405
There it is! After a rather surprising fourth quarter inventory surge, it appears as though annual trend has taken hold... for this week at least. The reduction could have also been helped along by the significant amount of products that retreated from the market this week, which reported significantly higher than previous months, and also higher than last year at this time. Some of those listings may reactivate this week to lessen the impact, but this is also a natural "ebb and flow" of our market around this time of year. So, all tracked products reduced this week, and values along with them. The gap from last year to this year is still rather large, but not as wide as it has been, especially when it comes to selling prices. Headed into the grey months, so reports will be static and irregular (usually), but there is still time to have a late push to the year. Usually, we see activity slow right down around this time of year, but there are still those making the final push to get into a property before the holiday season. Eyes are starting to train on 2024, and there is lots of speculation on how that market year will report, which is anyones guess at this point, but look to the stats in January to get an indication of how things will go. Last year was crickets around this time, then launched into activity that was surprisingly similar to the pandemic market, to everyones surprise in January, so the question is repeat?. Not sure if 2024 has the same legs, but you will have to stay tuned to the blog to find out! Thanks for stopping by!
The Weekly "Adogtable"
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
Looking to help?
With the devastation of the fires and floods, we are still far from a full recovery and many animals and people could use help! I want to provide links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help!
Good Bones Dog Rescue
Nova Scotia SPCA
Bide Awhile Animal Shelter
Halifax Veterinary Hospital
If you have a suggestion to be added to the support list, do not hesitate to contact me!
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!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
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