The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 28th - November 4th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 192 (156, 241, 178, 182) *312
Sold: 162 (151, 163, 154, 164) *242
Sale To Listing Ratio: 84% (97%, 87%, 87%, 90%) *78%
Price Changes: 53 (30, 39, 45, 43) *74
Listings that went conditional/pending: 186 (176, 215, 192, 196) *256
Expired/Cancelled/Withdrawn: 99 (38, 42, 50, 60) *44
Total Active Halifax/Dartmouth Inventory: 942 (954, 983, 1,003, 1,035) +1,649
Absorption Rate in weeks: 6 (6, 5, 6, 6) *7
Single Family Home Stats
Active Single Family Home: 331 (327, 347, 355, 401) *783
Average Single Family Home List Price: $471,545 ($479k,$455k,$408k,$484k) *$387k
Average Single Family Home Selling Price: $509,440 ($508k,$491k,$437k,$514k) *$391k
Single Family Home Sale to List Ratio This Week: 108% (106%,108%,107%,106%) *101%
Median Single Family Home List Price (6 mo): $386,200 ($387k,$380k,$380k,$380k) $342k
Median Single Family Home Sold Price (6 mo):$435,000 ($435k,$435k,$432k,$430k)*$350k
Average Days on Market Single Family Home: 17 (20, 18, 34, 15) *38
Active Condos: 63 (58, 68, 73, 67) *151
Average Condo Listing Price: $474,019 ($417k, $412k, $400k, $380k) *$303k
Average Condo Selling Price: $458,356 ($433k, $435k, $422k, $394k, ) *$302k
Condo Sale to List Ratio This Week: 97% (104%, 105%, 105%, 104%) *99%
Median Condo List Price (6 mo): $325,000 ($320k, $320k, $319k, $319k) *$269k
Median Condo Sold Price (6 mo): $344,900 ($342k, $340k, $340k, $340k) *$270k
Average Days on Market Condos: 19 (32, 10, 55, 24) *56
Active Vacant Lots: 409 (423, 430, 439, 438) *560
Only a couple months left to see how the 2021 Halifax real estate market will take its place in the history books, and although it will report quite differently from 2020, I'm certain it will be one talked about for years to come. Going back to the beginning of 2020, Halifax was already solidified in a sellers market, with overbids of 60k making headlines. Fast forward to today and that's pretty much a standard overbid for a semi in Sackville! Last year was a lot of wondering, a lot of "what happens next", tons of speculation and an expectation that it wasn't going to last. Well, here we are, just a few months from the finish line and what was shocking and surprising last year has become standard practice and "old news" so to speak. Buyer frustration remains s at an all time high, and the extremely lacking inventory is not helping matters at all. A lot of similar qualities in this weeks report compared to last week with a few small exceptions of course, most of which are in the "greater" column for activity, with marginal gains in most areas and products. The 6 month median single family home list/sale price dropped again ever so slightly, but the condo 6 month median reported its highest one week gain since last year. All eyes on 2022 as we approach the end of the year, but be sure to stay tuned and see how we finish off 2021. Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
My name is Bruno. I am an 8-WEEK-old male, weighing in at 4.5 lbs. My mom was a rescue brought to Nova Scotia from Texas a few months ago. When my mom went to the vet to get spayed, the vet informed my rescuers that she was pregnant. I was born August 29th, 2021 and I’m now ready to start the search for my furever home although I won't be joining my forever home until I'm 10 weeks old. I can't wait!!
My mom is listed as a 25lb. terrier mix and my dad is unknown so how big or how small I'll be full grown is a mystery.
I am the runt of the litter weighing only 183g at birth. But look at me now, getting all big and strong.
I’m a little shy but warm up quickly. I like to play with toys and sometimes be by myself just to chill in my own company. I’m very playful and enjoy running on the deck with some small toys. I love chasing the falling leaves and my foster moms when they start walking fast and tell me to go, go, go. I’m new at that doggy life so I have a lot to learn. I know to use a pee pad for my relief; I might miss now and again but generally I hit the target! I love my fosters (well, pretty much all humans I meet) and want to be around them as much as possible. I will sit on the couch with you or lay on your lap while you watch TV or read a book. Since I have nine siblings, socializing and playing well with others is no problem at all. I enjoy my kibbles at meal time; I will gobble them up and then have a bit of play time before going for a nap. I also really like the homemade treats that my foster mom makes, they are very healthy and tasty and I’m hoping that she’ll give you the recipe.
I am still a puppy so I have alot to learn; leash manners, not to chew things I shouldn’t, more socialization, overcoming separation anxiety, recall, housetraining, enjoying new things like car rides, etc. I am the sweetest boy wanting to learn all there is to know about being a good dog.
In short I am a puppy who requires lots of time and patience to be the best big boy I can be. It also means that I will be a 10-20 year commitment for my family.
If you have the time, patience and are committed, then I could be the chill little dude for you!!
My adoption fee is a $450 donation to the rescue to help save more dogs like me. I am microchipped and have had my first set of shots but set 2 and 3 at 12 and 16 weeks will be the responsibility of my adopter. I am much too young to be neutered so this will be my adopter's responsibility also once I'm old enough. I do 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
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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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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah