The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty: September 14th-21st, 2023
Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 231 (222, 225) *235
Sold: 119 (111, 91) *105
Sale To Listing Ratio: 52% (50%, 40%) *45%
Price Changes: 103 (102, 80) *114
Listings that went conditional/pending: 134 (135, 124) *140
Expired/Cancelled/Withdrawn: 46 (79, 79) *67
Total Active Halifax/Dartmouth Inventory: 1,504 (1,477, 1,407) *1,335
Absorption Rate in weeks: * (*) *12
Single Family Home Stats
Active Single Family Home: 776 (761, 707) *706
Average Single Family Home List Price: $506,205 ($507k,$584k) *$543k
Average Single Family Home Selling Price: $523,018 ($516k, $578k) *$539k
Single Family Home Sale to List Ratio This Week: 103% (102%, 99%) *99.9%
Median Single Family Home List Price (6 mo):$529,000 ($530k, $500k) *$460k
Median Single Family Home Sold Price(6 mo):$541,000 ($545k, $520k)*$521k
Average Days on Market Single Family Home: 26 (24, 50) *21
Active Condos: 117 (115, 110) *94
Average Condo Listing Price: $490,324 ($532k, $388k) *$390k
Average Condo Selling Price: $523,876 ($530k, $390k) *$388k
Condo Sale to List Ratio This Week: 107% (99%, 100%) *99%
Median Condo List Price (6 mo): $425,000 ($425k, $415k) *$375k
Median Condo Sold Price (6 mo): $430,000 ($430k, $415k) *$413k
Average Days on Market Condos: 27 (22, 26) *46
Active Vacant Lots: 428 (423, 417) *389
Yet another surprising week of inventory gain! Even small increases are a surprise this time of year, as the usual trend is to see products retreat from the market and continue the decent all the way until the Holiday season. Buyer activity remained decent again this week, but just mediocre, which is quite normal for this time of year. Lots of price reductions around the city, mostly at the higher price points and rural areas, but values continue to adjust and find a landing in the new market. Values overall continue to stabilize, but figuring out what area and price points have found that solid group remains elusive. Turn-key property is still commanding the most action, with the opposite condition not getting as much love as its counterpart, and even settling around or even below asking price in competitive markets. It is a really interesting time, that's for sure. Sellers used to hold all the aces at the table, but it seems to be getting down to pairs, sometimes even a bluff! There is still the underpriced and mostly turn-key properties that are seeing big overbids, but a lot of buyers have lost the appetite to compete, and have become more relaxed to wait it out as they know more options will soon arrive to market. Time will tell if the long play is the way to go here, or if taking a bite out of the current market is the way to go. In either case, I have you covered, 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 him 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!
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