The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: October 7th-14th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 178 (182, 223, 229, 186) *295
Sold: 154 (164, 186, 195, 146) *238
Sale To Listing Ratio: 87% (90%, 83%, 85%, 79%) *81%
Price Changes: 45 (43, 56, 55, 56) *117
Listings that went conditional/pending: 192 (196, 223, 201, 184) *228
Expired/Cancelled/Withdrawn: 50 (60, 48, 41, 48) *92
Total Active Halifax/Dartmouth Inventory: 1,003 (1,035, 1,099, 1,115, 1,116) +1,683
Absorption Rate in weeks: 6 (6, 6, 6, 5) *7
Single Family Home Stats
Active Single Family Home: 355 (401, 424, 433, 434) *807
Average Single Family Home List Price: $408,147 ($484k,$424k,$531k,$447k) *$387k
Average Single Family Home Selling Price: $436,658 ($514k,$459k,$548k,$472k) *$396k
Single Family Home Sale to List Ratio This Week: 107% (106%,108%,103%,106%) *102%
Median Single Family Home List Price (6 mo): $379,900 ($380k,$380k,$380k,$380k) $340k
Median Single Family Home Sold Price (6 mo):$431,667 ($430k,$430k,$434k,$434k)*$345k
Average Days on Market Single Family Home: 34 (15, 19, 22, 16) *29
Active Condos: 73 (67, 71, 78, 84) *159
Average Condo Listing Price: $400,437 ($380k, $342k, $377k, $352k) *$283k
Average Condo Selling Price: $421,856 ($394k, $370k, $391k, $357k) *$284k
Condo Sale to List Ratio This Week: 105% (104%, 108%, 104%, 101%) *101%
Median Condo List Price (6 mo): $318,800 ($319k, $320k, $320k, $320k) *$260k
Median Condo Sold Price (6 mo): $339,900 ($340k, $341k, $344k, $344k) *$260k
Average Days on Market Condos: 55 (24, 9, 28, 8) *13
Active Vacant Lots: 439 (438, 474, 470, 471) *562
Fairly average week on the market, with very few changes to the overall environment. Total inventory slid again this week, narrowing the the gap from last year to this year yet again. You could go out on a limb and say that annual trend has finally corrected itself and is influencing the weekly report, and I would agree. There's no question that things are slowing down, but underneath the surface of the calming waters remains a swirling churn of activity for many areas of HRM. I have talked about the lessoning number of offers being sent on some listings, and also to the dollar amount over asking starting to shrink, and this continues to happen more frequently as the year starts to conclude. Showings are starting to slow, and some listings that have priced to current overbid market are receiving cold shoulders from the current buyer group. As we press on into the Fall, there does seem to be a bump in activity, so it will be interesting to see how these stats shape up to the Summer months, and which will have the winning report. If I could guess, I would say Fall is performing better. Once September hit there was a wake up in the market, which again, falls in line with annual trend but it could be temporary. It would be good news to see the market starting to flow in its usual way, I think many that have experienced the market, or currently looking forward to seeing a return to normalcy. A return to gauging a realistic expectation, instead of boldly guessing property value. For some Nova Scotian's, it seems big city real estate market tactics have worn out their lustre, as affordability and availability push many locals out of the current market options. Will we continue to settle back into our old ways, or will a new market emerge with new trends? Stay tuned to the blog to find out! Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
Hi everyone! My name is Chandler and I am a 4 year old, border collie mix boy weighing around 45lbs. I came from Texas several months ago, I thought I had found my forever home but turns out I wasn't quite home yet.
I'm a little shy and it takes me a little more time to trust people, but once I warm up I love a good scratch, especially on my ears or under my chin, and I also love a good cuddle, particularly first thing in the morning!
I enjoy the company of other dogs, but prefer to watch rather than play. I'm unsure of kids, I tend to scare easily, so I would do best in a kid-free home. As far as cats go, I haven't been around any, so I'm not sure about them yet.
I walk really well on my leash, but it's really important that I'm always on a double leash because I am able to back out of my harness when I get scared. I can sit and come when called, but I will need some patience and training when it comes to body handling and confidence building; I tend to get nervous if I feel trapped or cornered and when walking through doorways.
I'm not a big fan of toys right now, but I may learn to enjoy them over time. Car rides on the other hand, I'm definitely a fan of those! I'll just curl up and have a nap on route to our next big adventure together!
At home, if there is someone around, I like to follow them around the house. If I'm alone I won't be destructive but I think I'd like someone home more than not. I am happy to say I am housetrained as well!
I know I have a few things to work on, but I promise that your patience will be rewarded! So, if you're looking for a sweet and smart pup to join your family, I'm ready to go to my forever home with you!
Do you think we'd be a good match?
My adoption fee is a $400 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
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