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 January 16th - 23rd, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 194 (229, 170) *193
Sold: 89 (76, 90) *92
Sale To Listing Ratio: 46% (33%, 53%) *48%
Price Changes: 47 (51, 75) *61
Listings that went conditional/pending: 148 (137, 108) *120
Expired/Cancelled: 57 (51, 70) *87
Total Active Halifax/Dartmouth Inventory: 2,148 (2,156, 2,113) +3,122
Absorption Rate in weeks: X (X, X) *X
Single Family Home Stats
Active Single Family Home: 1,080 (1,088, 1,059) *1,670
Average Single Family Home List Price: $367,546 ($365k, $359k) *$330k
Average Single Family Home Selling Price: $364,251 ($353k, $349k) *$297k
Single Family Home Sale to List Ratio This Week: 99% (97%, 97%) *90%
Median Single Family Home List Price (6 mo): $314,900 ($315k, $315k)*$285k
Median Single Family Home Sold Price (6 mo):$309,900 ($309k, $308k)*$279k
Average Days on Market Single Family Home: 62 (65, 109) *65
Active Condos: 144 (142, 138) *246
Average Condo Listing Price: $301,127 ($289k, $320k) *$255k
Average Condo Selling Price: $294,209 ($287k, $315k) *$241k
Condo Sale to List Ratio This Week: 98% (99%, 99%) 95%
Median Condo List Price (6 mo): $249,900 ($250k, $249k) *$240k
Median Condo Sold Price (6 mo): $240,100 ($240k, $240k) *$230k
Average Days on Market Condos: 64 (69, 118) *77
Active Vacant Lots: 768 (773, 764) *945
Bit of a déjà vu this week, as last year at this time reported many of the same strange things going on in the same strange fashion. Last year we had limited weekly additions, a decent sales report, and a reduction in inventory... that's right, a reduction! Listings under contract reported quite a bit higher than last year, but many stats are quite the mirror image. I will have to look back on the week historically and see if this is a repeating pattern, and if so, I'm curious to know the reason. The other obvious differences between this year and last include the overall value increase across the board, and significantly less overall inventory available for sale here in Halifax. Looking to get a visual on what that change looks like? Scroll down to the 2019 Halifax real estate market year in review to see. If you are considering buying or selling this year, it's a must see to get an idea of the current market environment. Still, the year is just under way, and things can change quite quickly! Nova Scotia has a tendency of slow change, which is a good thing when it comes to real estate, but maybe not so good in other areas, like ride sharing. The expectation is that any change would be gradual, much like the current market that changed quite quickly, but it took almost two years to do so. However, the change in that time has been extremely significant despite the short timespan, which means things could go from bad to worse for buyers with this continued activity. Still, it still remains a great time to sell, but the challenge grows tougher for buyers out there, so stay on top of what's happening out there and how the market forecast is being called by tuning into the blog. Thanks for stopping by!
The Weekly Adogtable
Owner surrender: new baby in family and the dog is too hyper. Received basic vaccination + Bordetella + Advantage Multi 100 Happy, excitable and energetic. Traumatic wound on tip of tail from happy tail wagging and treated. Very gentle dog as far as loving temperement. Well socialized w/ humans very clever guy. No food guarding but eats fast. Takes treats roughly Not recommended w/ cats, prey drive Playful w/ dogs but plays like a staffy so we recommend big dogs or another staffy jumps a lot.
Knows basic command: sit. Pulls a lot on leash but we use a no pull harness for walks. Not recommended w/ small children, too excitable. We can re-evaluate once his exercise routine is established. House trained and crate trained. Not vocal. No bite history. Used to car travel. Flight risk if not on leash. No recall and noted prey drive so, he should be leashed unless in a fenced in area.
This "cuddly companion" is available through Good Bones Dog Rescue, a non profit rescue organization from Halifax, 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 fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah