The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 5th-12th, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 216 (260, 265, 231, 222) *186
Sold: 98 (116, 105, 119, 111) *115
Sale To Listing Ratio: 45% (45%, 40%, 52%, 50%) *62%
Price Changes: 92 (135, 143, 103, 102) *119
Conditional Sale: 113 (174, 150, 134, 135) *124
Expired/Cancelled/Withdrawn: 39 (114, 47, 46, 79) *48
Total Active Halifax/Dartmouth Inventory: 1,521 (1,499, 1,547, 1,504, 1,477) *1,340
Absorption Rate in weeks: 14 (13, 15) *6
Single Family Home Stats
Active Single Family Home: 792 (768, 808, 776, 761) *703
Average Single Family Home List Price: $536,828 ($555k,$561k,$506k,$507k) *$606k
Average Single Family Home Selling Price: $538,852 ($561k,$566k,$523k,$516k) *$599k
Single Family Home Sale to List Ratio This Week: 101% (101%, 103%, 103%, 102%) *99%
Median Single Family Home List Price (6 mo):$525,000 ($529k,$529k,$529k,$530k) *$450k
Median Single Family Home Sold Price(6 mo):$540.000 ($545k,$583k,$541k,$545k)*$502k
Average Days on Market Single Family Home: 32 (23, 29, 26, 24) *31
Active Condos: 122 (129, 122, 117, 115) *110
Average Condo Listing Price: $504,808 ($462k, $481k, $490k, $532k) *$448k
Average Condo Selling Price: $511,116 ($460k, $480k, $524k, $530k) *$442k
Condo Sale to List Ratio This Week: 101% (99%, 107%, 107%, 99%) *99%
Median Condo List Price (6 mo): $429,900 ($430k, $425k, $425k, $425k) *$385k
Median Condo Sold Price (6 mo): $440,000 ($440k, $430k, $430k, $430k) *$404k
Average Days on Market Condos: 34 (13, 25, 27, 22) *10
Active Vacant Lots: 426 (423, 436, 428) *394
Well that was short lived. After seeing reduction in the overall inventory count last week for the first time in several weeks, we are back to pumping up those numbers yet again. Not a bad thing I would say, we are still quite far from a balanced market, especially given the time of year, but this Fall has been the closest to a balanced market as we have seen in the last few years. Bit of a sluggish week for both buyer and seller activity, with both new listing and conditional sales reporting lower than the last few weeks, but as we have seen holidays do tend to have an impact on market activity. Thanksgiving long weekend is definitely one of those weekends that folks have other things at the forefront, other than the sale or purchase of a property. The big question will be how this week coming will report, and if we will see a typical downward trending market as things start to cool, or will things start to heat up again? We should see an activity push from now until the end of November as some try to sell or buy before the holiday season arrives, so expect the numbers to kick up and down over the next few weeks while that happens. Should be an interesting end to the forth quarter, and to a rather challenging market year overall. I have you covered though, so be sure to stay tuned to the blog and stay informed! 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 her 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!
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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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah