The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: September 12th-19th, 2024

(Previous weeks numbers in brackets)

*Previous Year's Stats​

Total Market
New/Back to Market Listings: 230 (261, 185, 205, 256) *231
Sold:  128  (122, 112, 148, 147) *119
Sale To Listing Ratio: 56% (47%, 61%, 72%, 57%) *52%
Price Changes: 136 (122, 101, 102, 137) *103
Conditional Sale: 156 (158, 119, 177, 165)  *134
Expired/Cancelled/Withdrawn: 46 (56, 98, 45, 48) *46
Total Active Halifax/Dartmouth Inventory:  1,781 (1,769, 1,761, 1,772, 1,811) *1,504
Absorption Rate: 14 (13, 13, 13, 13) 

Single Family Home Stats
Active Single Family Home: 895 (874, 890, 871, 896) *776
Average Single Family Home List Price:  $581,705 ($592k, $601k, $590k, $593k) *$506k
Average Single Family Home Selling Price:  $580,891 ($594k, $598k, $586k, $597k) *$523k
Single Family Home Sale to List Ratio This Week: 99% (101%, 99%, 99%, 101%) *103%
Median Single Family Home List Price (6 mo): $559,900 ($565k,$565k,$565k,$569k) *$529k
​Median Single Family Home Sold Price(6 mo):$565,000 ($565k,$568k,$568k,$570k)*$541k
Average Days on Market Single Family Home: 27 (27, 28, 36, 29) *26

Condo Stats
Active Condos:  147 (140, 138, 138, 141) *117
Average Condo Listing Price:  $515,041 ($599k, $468k, $492k, $466k) *$490k
Average Condo Selling Price: $511,111 ($610k, $460k, $497k, $458k) *$524k
Condo Sale to List Ratio This Week: 99% (102%, 98%, 101%, 98%)  *107%
Median Condo List Price (6 mo): $442,450 ($440k, $440k, $440k, $440k) *$425k
Median Condo Sold Price (6 mo): $442,000 ($440k, $440k, $440k, $440k) *$430k
Average Days on Market Condos: 24 (12, 15, 19, 27) *27

Active Vacant Lots: 513 (518, 513, 527, 525) *428

Market Rant
​The Halifax/Dartmouth real estate market continues to keep things interesting with a dynamic mix of activity. While new listings have slightly dipped from previous weeks, the market is far from stagnant, as buyers are still making moves, especially with 128 properties sold this week and a sale-to-listing ratio climbing to 56%. Sellers are staying competitive, with 136 price changes, signaling a willingness to adapt to market demands.

Single-family homes remain a hot commodity, with nearly 900 homes active on the market. The list and selling prices are seeing a slight cool-off from recent weeks, averaging around $580,000, while homes are being snatched up within 27 days – a quick turnaround that keeps the momentum going. The sale-to-list ratio for single-family homes remains strong at 99%, indicating that buyers are getting homes close to or just below their asking price, adding a bit of negotiation room.

On the condo side, the market seems to be enjoying a bit of a rollercoaster. While listing prices have taken a noticeable dip from last week’s spike, currently averaging $515,041, selling prices have also recalibrated, landing around $511,111. Condos are moving a bit slower, with an average of 24 days on the market, but buyers still get close to what they’re asking for, with a 99% sale-to-list ratio.

Vacant lots have maintained a consistent presence, offering a steady option for those looking to build, with just over 500 available. The overall inventory remains robust at 1,781 active listings, slightly above last week’s numbers, while the absorption rate remains steady at 14 – showing a balanced market with plenty of opportunities for both buyers and sellers.

In short, whether you’re buying, selling, or just watching the market, Halifax/Dartmouth is buzzing with activity. The market is balancing excitement and stability, with plenty of potential for both investment and homeownership. Dive in and see where the next twist or turn takes you! Thanks for stopping by! 

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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?

Below you will find 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!
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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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