The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 29th-November 5th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 261 (312, 313, 363, 260) *221
Sold: 198 (242, 225, 208, 209) *174
Sale To Listing Ratio: 76% (78%, 72%, 57%, 80%) *79%
Price Changes: 105 (74, 86, 71, 85) *96
Listings that went conditional/pending: 228 (246, 283, 239, 277) *188
Expired/Cancelled/Withdrawn: 100 (44, 59, 48, 107) *199
Total Active Halifax/Dartmouth Inventory: 1,573 (1,649, 1,632, 1,705, 1,656) +2,722
Absorption Rate in weeks: 7 (7, 7, 8, 7) *17
Single Family Home Stats
Active Single Family Home: 739 (783, 798, 835, 806) *1,444
Average Single Family Home List Price: $424,450 ($387k,$427k,$380k,$398k) *$347k
Average Single Family Home Selling Price: $430,530 ($391k,$430k,$390k,$404k) *$340k
Single Family Home Sale to List Ratio This Week: 101% (101%,101%,103%,101%) *98%
Median Single Family Home List Price (6 mo): $344,650 ($343k,$340k,$340k,$340k)*$310k
Median Single Family Home Sold Price (6 mo):$350,000 ($350k,$350k,$349k,$349k)*$305k
Average Days on Market Single Family Home: 40 (38, 28, 29, 42) *66
Active Condos: 133 (151, 162, 162, 147) *190
Average Condo Listing Price: $390,000 ($302k, $341k, $310k, $315k) *$225k
Average Condo Selling Price: $385,178 ($302k, $332k, $311k, $314k) *$224k
Condo Sale to List Ratio This Week: 99% (99%, 97%, 100%, 99%) 99%
Median Condo List Price (6 mo): $269,900 ($269k, $270k, $262k, $250k) *$250k
Median Condo Sold Price (6 mo): $270,000 ($270k, $270k, $267k, $264k) *$240k
Average Days on Market Condos: 24 (56, 60, 31, 71)*46
Active Vacant Lots: 550 (560, 535, 548, 546) *868
Dropping like flies! Inventory took a hit this week as we enter the November market, with all tracked products feeling the sting of reduction. Activity seemed to be a bit down this week as well, with fewer listings coming to market, and fewer sales. Even buyer activity reported a touch lower than normal, so the question to pose may be if we are starting to see annual trend finally start to take hold or is the market showing signs of slowing? Lots of price changes this week, and where some may have increased (new construction) I would venture a guess that the majority of these are listings that survived the golden weekend (see last weeks post) that found themselves on the other side of it, perhaps overpriced. Sure signs that we may be reaching a ceiling here in HRM. Several listings also retreated from the market this week, which tends to fall in line with annual trend also, as the focus starts to shift towards Christmas, and the lowest activity month of the market year (December). Still, we have seen this type of activity lately, and just when you think things are starting to slow down, they ramp right back up again. This market is anything but predicable at the moment, so make sure to stay on top of it by tuning into the blog on the regular. Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Diesel is a ~7 year old male neutered lab/amstaff mix. (~30 kg)
He would prefer a home with children 16 years old and older.
He requires to be the only animal in the home.
Look at that goofy smile and you can already tell Diesel is a lovable goof. Diesel is looking for a home where he can spend some time outside going for a nice walk to explore the great outdoors. He does enjoy his time inside as well and is quick to lay down and suckle on a blanket. He is very food motivated and will do just about anything for a treat. It wouldn't be a bad thing if he shed a few more pounds. He has lost a few over his time spent with us and he feels great slimming down a bit. Come meet this handsome boy today!
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
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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