The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Thursdays)
Halifax (HRM) Residential Statistic Update for the Week of April 2nd - 9th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 180 (196, 215, 301, 336) *363
Sold: 119 (140, 158, 182, 158) *168
Sale To Listing Ratio: 66% (71%, 74%, 60%, 47%) *46%
Price Changes: 45 (47, 75, 84, 55) *141
Listings that went conditional/pending: 120 (116, 156, 214, 224) *246
Expired/Cancelled/Withdrawn: 53 (84, 66, 58, 73) *54
Total Active Halifax/Dartmouth Inventory: 2,195 (2,194, 2,189, 2,184, 2,169) +3,221
Absorption Rate in weeks: 15 (14, 13, 13, 14) *21
Single Family Home Stats
Active Single Family Home: 1,184 (1,177, 1,163, 1,155, 1,147) *1,802
Average Single Family Home List Price: $336,741 ($349k,$369k,$359k,$393k) *$328k
Average Single Family Home Selling Price: $336,042 ($346k,$367k,$357k,$390k,) *$337k
Single Family Home Sale to List Ratio This Week: 99% (99%, 99%, 99%, 99%) *103%
Median Single Family Home List Price (6 mo): $319,900 ($316k,$315k,$315k,$315k)*$290k
Median Single Family Home Sold Price (6 mo):$315,000 ($315k,$315k,$310k,$310k)*$285k
Average Days on Market Single Family Home: 51 ( 47, 36, 43, 59) *54
Active Condos: 143 (142, 142, 146, 137) *251
Average Condo Listing Price: $308,554 ($265k, $301k, $348k, $370k) *$319k
Average Condo Selling Price: $303,336 ($264k, $300k, $351k, $376k) *$322k
Condo Sale to List Ratio This Week: 98% (99%, 99%, 100%, 101%) 101%
Median Condo List Price (6 mo): $257,450 ($253k, $260k, $255k, $251k) *$248k
Median Condo Sold Price (6 mo): $254,000 ($250k, $254k, $249k, $248k) *$241k
Average Days on Market Condos: 12 (61, 20, 56, 78) *76
Active Vacant Lots: 730 (740, 740, 735, 743) *918
That's the lowest average days on market for condo's I have seen yet! Mind you, there was just shy of a dozen condo dales this week, but they averaged a measly 12 days on market! about three weeks into the State of Emergency, so we are starting to see the carry over momentum finally start to wain. New listings are about half of what they were at this time last year, which seems to be the biggest change, and buyers appear to purchasing still, but that activity is also about half of what it was at this time last year too. I imagine the Premier's plea of "stay the blazes home" has resounded with the good folks of Halifax, but there are still some of those that are out hunting for a property despite the request. Some may see the situation as an opportunity to get into a property without as much competition, which might be enticing so those who have lost out in the market before COVID-19. Perhaps there are those that simply need to purchase a home, and can't wait out the shut in orders. In any case, property is still moving, although it much less volume, especially around this time of year. Usually, April is the beginning of the busiest time of year on the market, but we are 9 days into April and we are barely matching the numbers from last week. To be expected though, and I do think this will get worse before it gets better, but I also think the longer it takes to figure out how to get things to a new normal, the longer the recovery will be. In the end of all things though, life is more important than some bricks and mortar, so to speak, so whatever it takes! Stay safe everyone, and thanks for stopping by!
The Weekly Adogtable!
Meet Wolverine! He was living w/ adults + 2 kids. Good with cats.
Curious and playful with dogs (big and small).
Amicable and vocal with strangers. Pulls on leash (freedom harness helps). Wolverine is curious, playful, active, excitable, vocal and affectionate! He is docile in the house and is crate trained (he can whine/cry when left alone but is mostly calm). No resource guarding noted. He is a glutton with treats and loves to talk!
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, 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