The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of VIewPoint Realty: September 23rd-30th, 2021
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 182 (223, 229, 186, 227) *295
Sold: 164 (186, 195, 146, 183) *238
Sale To Listing Ratio: 90% (83%, 85%, 79%, 80%) *81%
Price Changes: 43 (56, 55, 56, 61) *117
Listings that went conditional/pending: 196 (223, 201, 184, 216) *228
Expired/Cancelled/Withdrawn: 60 (48, 41, 48, 49) *92
Total Active Halifax/Dartmouth Inventory: 1,035 (1,099, 1,115, 1,116, 1,188) +1,683
Absorption Rate in weeks: 6 (6, 6, 5, 7) *7
Single Family Home Stats
Active Single Family Home: 401 (424, 433, 434, 482) *807
Average Single Family Home List Price: $483,598 ($424k,$531k,$447k,$429k) *$387k
Average Single Family Home Selling Price: $514,103 ($459k,$548k,$472k,$469k) *$396k
Single Family Home Sale to List Ratio This Week: 106% (108%,103%,106%,109%) *102%
Median Single Family Home List Price (6 mo): $379,900 ($380k,$380k,$380k,$380k) $340k
Median Single Family Home Sold Price (6 mo):$430,000 ($430k,$434k,$434k,$436k)*$345k
Average Days on Market Single Family Home: 15 (19, 22, 16, 12) *29
Active Condos: 67 (71, 78, 84, 97) *159
Average Condo Listing Price: $379,834 ($342k, $377k, $352k, $338k) *$283k
Average Condo Selling Price: $394,179 ($370k, $391k, $357k, $353k) *$284k
Condo Sale to List Ratio This Week: 104% (108%, 104%, 101%, 104%) *101%
Median Condo List Price (6 mo): $319,000 ($320k, $320k, $320k, $319k) *$260k
Median Condo Sold Price (6 mo): $340,000 ($341k, $344k, $344k, $345k) *$260k
Average Days on Market Condos: 24 (9, 28, 8, 13) *13
Active Vacant Lots: 438 (474, 470, 471, 472) *562
Inventory continues its slide into the red as we approach what is usually a slow time of the market, but the gap from last year to this one continues to narrow as well, so the question is when we will hit a balance. Seems that we find ourselves in a micro sellers market. What I mean by that is because this time of year is usually less active, there isn't a lot of selection, but then again buyers tend to be be less active around now as well. Because the selection is so low, the smaller group of buyers find themselves in a highly completive market still, in most areas of HRM. Now I say micro because of the extremely low amount of products available, so listings are still being given the royal treatment. There did seem to be a balance during a few weeks this year, especially in the Summer months, but the market is in a very tumultuous time. For instance, you could have two homes on the same street for sale, similar features and price, one has 30 showings in 3 days and the other only gets 3, which is really hard to explain. Would be easy to dismiss if it only happened a few times, but I have talked with peers and they are noticing the same thing. The other thing happening on the front lines is the decrease of offers on listings. A listing in the Spring of this year likely averaged 10+ offers, but now it's more like 3-6 on average. Doesn't change the quality of the offers however, the ones that come forward still pack a punch, but with the decrease in how many come to the table one would have to think that the overbids would drop as well, which it has. Lots of time left for the 2021 market year, so make sure to check in and see how it all plays out! Thanks for stopping by, and stay safe out there!
The Weekly "Adogtable"
Hello everyone, my name is Brody. I am a 2 yr old Bassett Hound mix fella weighing approximately 35lbs. I was a local owner surrender and I’m now ready to start searching for a new forever home.
I fall in love with everyone I meet, and I think the feeling is mutual. I do tend to jump up when meeting people, but I can’t help it, I’m just so happy to see them. Older kids would probably be best so I don't jump up and accidentally knock them over. I love playing with dogs, but I love to play fast and hard so a fur sibling who can match my play style would be ideal. I haven’t been cat tested but on walks I am quite interested in the cats I see in the neighbourhood so probably no cats would be best.
My favourite games are tug of war and fetch. I could do it forever if you let me. I like to play with toys and am very vocal while playing especially when I have to let go. I have lots of energy, and I’m looking for a family that has an active lifestyle that I can be a part of. I would love a big yard to run around in, I really enjoy being outdoors. I need to be secured in the yard or I may decide to investigate and go visit the neighbour’s or somewhere else. I have a favourite blanket, it’s green and fuzzy, I like to suckle it.
I love my people being with me all the time so someone home more than not would be ideal. I am not destructive when left home alone, but I will bark and howl when you leave so apartments are not ideal for me. I do calm down after some time, and I like to lay in my “cave” (blanket fort). They tell me I give the best cuddles. I want to be part of everything, and I can become quite vocal when I feel like I’m missing out on something. I haven’t been in a crate since being in my foster home but I do like to be under things (blankets, tables).
I know some commands like down and leave it, and have some recall. I do think I would benefit from training to learn more commands and develop better manners. I pull hard on leash but when I wear a Halti, I do not pull as much.
I love going for walks and will walk as much as you want. I get pretty excited when I see other dogs on walks but I'm pretty good to listen when my foster mom redirects me. I am also fully housetrained.
If you are the adventurous type and have a canine sibling to match my energy level, I could be the one for you. We will have the best life together!!
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 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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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah