The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty September 16th-23rd, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 223 (229, 186, 227, 203) *343
Sold: 186 (195, 146, 183, 177) *226
Sale To Listing Ratio: 83% (85%, 79%, 80%, 87%) *66%
Price Changes: 56 (55, 56, 61, 52) *114
Listings that went conditional/pending: 223 (201, 184, 216, 221) *289
Expired/Cancelled/Withdrawn: 48 (41, 48, 49, 42) *58
Total Active Halifax/Dartmouth Inventory: 1,099 (1,115, 1,116, 1,188, 1,202) +1,721
Absorption Rate in weeks: 6 (6, 5, 7, 6) *7
Single Family Home Stats
Active Single Family Home: 424 (433, 434, 482, 487) *827
Average Single Family Home List Price: $424,003 ($531k,$447k,$429k,$419k) *$413k
Average Single Family Home Selling Price: $459,117 ($548k,$472k,$469k,$445k) *$415k
Single Family Home Sale to List Ratio This Week: 108% (103%,106%,109%,106%) *101%
Median Single Family Home List Price (6 mo): $379,900 ($380k,$380k,$380k,$379k) $340k
Median Single Family Home Sold Price (6 mo):$430,256 ($434k,$434k,$436k,$435k)*$345k
Average Days on Market Single Family Home: 19 (22, 16, 12, 12) *34
Active Condos: 71 (78, 84, 97, 94) *162
Average Condo Listing Price: $342,207 ($377k, $352k, $338k, $300k) *$286k
Average Condo Selling Price: $369,755 ($391k, $357k, $353k, $318k) *$298k
Condo Sale to List Ratio This Week: 108% (104%, 101%, 104%, 106%) *104%
Median Condo List Price (6 mo): $319,900 ($320k, $320k, $319k, $310k) *$260k
Median Condo Sold Price (6 mo): $341,000 ($344k, $344k, $345k, $350k) *$260k
Average Days on Market Condos: 9 (28, 8, 13, 28) *8
Active Vacant Lots: 474 (470, 471, 472, 467) *567
It's getting scarce out there again! The combination of seasonal inventory decline, coupled with increasing buyer activity has yet again chipped away at the already low products on market. Single family home prices adjusted back to normal this week after several million dollar plus homes sold last week, skyrocketing the listing and selling prices well above the norm. This week is more of a true representation of the averages for both tracked products. Something that seems small, but is actually quite the significant detail this week is the reduction in both Single Family Home and Condo six month selling prices. This could be a continued indication that the extreme overbidding is starting to reduce, especially with the continued hold of the six month median list prices. Since the beginning of the pandemic market, we have seen these values increase in uncharacteristically large amounts, sometimes a $5k+ jump in a single week! The fact that these averages have held steady for the last couple of months either signals that there is a correction underway, or the market has capped values on products for the time being. Real estate is something that generally gains in value over time, so this pause could be temporary. The jump in listing and selling prices from April 2020 to now is nothing short of incredible, and the question from the start has been when it will cool. Signs are certainly showing but we are far from out of the woods, so stay tuned to the blog to stay on top of the wildest real estate market in Halifax history! Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
Hi everyone! My name is Kety, I'm a 2 year old, Griffon girl, weighing around 15lbs. I came all the way from Egypt a few weeks ago and I'm ready to find my forever home now!
I was living with 2 other dogs, one senior larger than me and a younger dog much smaller. I can be very playful once I get to know the dog. I may try to test the waters with dogs at first and guard things like water bowls or toys but with time I have learned I don't have to do this with my foster fur-siblings. I am currently living with 2 smaller dogs but we are still trying to figure each other out right now.
I have not been around kids or cats. I think kids that are older would be ok because sometimes I do play mouthy with you, but my foster parents have been working on this with me.
I will bark when someone new comes into the house, but that's just to let you know I'm there and on guard of the house. Once they come in there may be a few more barks but once they are chatting or sit down, I'll come over and properly introduce myself but I need time and slow introductions.
Sometimes I can get frustrated when I meet new people if I'm on leash; the longer the frustration builds I might try to lunge or snap so it's better if we can do this inside off leash or allow me to approach to get some sniffs in.
I love to go for walks, play outside, love fetch so expect me to keep bringing you back the toy once we start! I was initially drawn to my foster dad but learned quickly foster mom is pretty great as well.
I was a very good girl in the bath, have no issues with being touched all over, and also enjoy being brushed! I really just want all of your love!
I am great in the car and will travel in the kennel. I will sleep through the night, either in the kennel, on your bed or any other comfy spot in the house really!
I am very food motivated and if you leave any food within my reach I will assume you've put it there for my benefit!
House training, this is something else I need to continue working on. If you keep up with consistently taking me out I'm sure I can figure it out! Just be patient with me! Using pee pads while learning a new place might help me.
Will you be my forever family?
My adoption fee is a $400 donation to the rescue to help save more dogs like me. I am spayed, 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 her 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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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