The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (October 8th-15th, 2020)
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 363 (260, 295, 343, 367) *212
Sold: 208 (209, 238, 226, 270) *142
Sale To Listing Ratio: 57% (80%, 81%, 66%, 63%) *67%
Price Changes: 71 (85, 117, 114, 140) *137
Listings that went conditional/pending: 239 (277, 228, 289, 317) *185
Expired/Cancelled/Withdrawn: 48 (107, 92, 58, 60) *94
Total Active Halifax/Dartmouth Inventory: 1,705 (1,656, 1,683, 1,721, 1,741) +2,934
Absorption Rate in weeks: 8 (7, 7, 7, 7) *18
Single Family Home Stats
Active Single Family Home: 835 (806, 807, 827, 838) *1,609
Average Single Family Home List Price: $379,527 ($398k,$387k,$413k,$391k) *$317k
Average Single Family Home Selling Price: $389,736 ($404k,$396k,$415k,$394k) *$314k
Single Family Home Sale to List Ratio This Week: 103% (101%,102%,101%,101%) *99%
Median Single Family Home List Price (6 mo): $339,900 ($340k,$340k,$340k,$340k)*$310k
Median Single Family Home Sold Price (6 mo):$349,000 ($349k,$346,$345k,$344k)*$304k
Average Days on Market Single Family Home: 29 (42, 29, 34, 34) *58
Active Condos: 162 (147, 159, 162, 163) *199
Average Condo Listing Price: $310,346 ($315k, $283k, $286, $268k) *$228k
Average Condo Selling Price: $310,738 ($314k, $284k, $298k, $272k) *$226k
Condo Sale to List Ratio This Week: 100% (99%, 101%, 104%, 100%) 99%
Median Condo List Price (6 mo): $262,400 ($250k, $260k, $260k, $260k) *$250k
Median Condo Sold Price (6 mo): $266,750 ($264k, $260k, $260k, $260k) *$240k
Average Days on Market Condos: 31 (71, 13, 8, 18)*61
Active Vacant Lots: 548 (546, 562, 567, 568) *891
Can we dub this week "return of the sellers" week? In a interesting turn of events, there was a good surge to new listings this week and just an average week of sales, and not by just a little either. The short but mighty week flipped on our usual activity this so far this year, with underwhelming buyer activity and an actual increase to the overall inventory level in all tracked products. Strange given the strength of our market year, and also strange given the time of year since the fall is usually the time when product numbers reduce week to week. Not surprising is the decreased buyer activity since it was Thanksgiving long weekend after all, but surprising was the amount of sellers that decided the holiday weekend was the time to post. Probably just a coincidence, but this market reversal caused a sharp decline in the sales to list ratio, reporting lower than it has in months, and added to the historically low absorption rate finally! The absorption rate has been hovering at the historic low of the 7 week timeframe for over a month, so I will bet that many buyers will be encouraged by the change in events, even if it is just for this week. The holidays do tend to toss in that extra factor, and as much as you consider numbers to be cold and calculating, sometimes the human factor can greatly influence how things report in the real estate industry.
Make sure to stay on top of the market if you are planning on listing or buyer soon, and a great way to do that is by checking in to the blog frequently, or contacting me to get moving! Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Hi my name is Tinkerbelle! I’m a senior poodle mix lady sitting at 11 years young and weighing around 12lbs. I came all the way from California and have been looking for my forever family for almost 6 months so I'm very excited!
Don’t let my age fool you, I love going for a nice run or a long walk! I can be a super fast runner, and my foster mom thinks I should go to the dog Olympics! 🏃🏼♀️I don’t mind rain or shine and I’m so great walking on leash! When my foster mom takes me on walks, I’m very good with people and saying hi, I’ll let other dogs say hi too, but I’m not interested in socializing with them, and will let them know when they’re too much in my space. I lived with a cat for a few months and snapped at the cat twice, otherwise I was indifferent to her.
It does take a bit of time for me to trust you, and might snap at quick movements, or being touched a certain way. Because of this I will be gling to a home with adults only. For example: I like being shown my leash so I know what’s going on before you hook it on. Once I warm up to you though, I’ll come to you looking for pets and really like getting my ears rubbed and my chin scratched! I will let you know when you’re not paying enough attention to me too. I also get the cutest zoomies and I like to hop around, my foster mom thinks I’m so funny! As mentioned before I like going to the lake, I like when my foster mom comes in to her ankles with me so I can waddle around, I don’t think I can really swim though so I stay close to shore but love my time there!
I will do my business outside, but sometimes it’s hard to know when I need to go out and may just seem like I want a nice pet. When left alone I can’t hold it and will need to go, but I’ve been doing better lately! When I do my business outside, I know I’ve done good because I get my favourite treats when I come in! I’m so gentle when I’m given any treats or food! I’ve been on the raw food and I’m loving it, and I don’t have any food agression! I do really like to try whatever you’re having too, I like to extend my food palate 💁🏼♀️
I’m also a really great sleeper! I’ll nap throughout the day, especially after some nice exercise, or an adventure to the lake, and will sleep through the night too! 😴 My foster mom isn’t a morning person, so I’ll get up early to go outside, but then we’ll go back to bed so she won’t be so cranky. I sleep on my bed which is on the floor, or on a blanket, or just on the floor (I like having options). I sleep on the floor because I really don’t like to be picked up and I also like having my own space. My foster mom has a ramp for me to get in the car with her when we go for a drive and that works perfectly for me!
So to recap I’m looking for my furever home:
- That has a lot of patience and love to give me!
- That will have me as the only dog ❤
- That has adults only!
- That has minimal stairs because again I really don't like to be picked up
I’m so so sweet and loving and have the quirkiest personality! I like giving the sweetest kisses to show that I appreciate you too! I’ve been guinea pig tested (when he’s been free roam and in his cage) and I like to make sure he’s doing okay but don’t like to be too social with him.
Are you my forever home?
My adoption fee is a donation to help save more dogs like me. I am spayed and microchipped, and I have all my doggy papers to come home to you! You can apply for me at https://www.salcars.ca/adopt.
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
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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