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 May 7th - 14th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 194 (234, 166, 150, 139) *351
Sold: 120 (112, 131, 98, 104) *203
Sale To Listing Ratio: 62% (48%, 65%, 65%, 75%) *58%
Price Changes: 70 (55, 56, 70, 42) *181
Listings that went conditional/pending: 169 (164, 125, 112, 110) *232
Expired/Cancelled/Withdrawn: 40 (104, 32, 58, 68) *56
Total Active Halifax/Dartmouth Inventory: 2,086 (2,100, 2,135, 2,134, 2,155) +3,375
Absorption Rate in weeks: 18 (19, 19, 19, 17) *17
Single Family Home Stats
Active Single Family Home: 1,099 (1,113, 1,139, 1,141, 1,155) *1,897
Average Single Family Home List Price: $371,338 ($359k,$362k,$351k,$352k) *$367k
Average Single Family Home Selling Price: $368,811 ($351k,$355k,$250k,$345k) *$359k
Single Family Home Sale to List Ratio This Week: 99% (98%, 98%, 99%, 98%) *98%
Median Single Family Home List Price (6 mo): $319,900 ($320k,$320k,$320k,$320k)*$299k
Median Single Family Home Sold Price (6 mo):$319,900 ($319k,$320k,$320k,$320k)*$292k
Average Days on Market Single Family Home: 60 (61, 45, 47, 37) *44
Active Condos: 148 (152, 154, 141, 143) *260
Average Condo Listing Price: $255,288 ($351k, $286k, $329k, $235k) *$317k
Average Condo Selling Price: $246,588 ($339k, $273k, $315k,$230k) *$311k
Condo Sale to List Ratio This Week: 97% (97%, 96%, 96%, 98%) 98%
Median Condo List Price (6 mo): $269,000 ($267k, $260k,$260k, 255k) *$248k
Median Condo Sold Price (6 mo): $263,000 ($261k, $255k, $255k, $253k) *$241k
Average Days on Market Condos: 54 (40, 40, 84, 8) *43
Active Vacant Lots: 707 (717, 717, 721, 730) *943
Another week of inventory reduction has widened the gap significantly from last year at this time, to an almost 1300 unit difference. Just when things started to look up regarding the inventory and potential gain, this week slides back to report a sub 200 stat. Buyer activity this week didn't wain at all though, which is contributing to the ever shrinking options, but the largest factor remains seller reluctancy to come to market. After a quick rise of the absorption rate in the wake of the pandemic, the combination of minimal listings and fast sales has turned that stat around after more than a month of gain. You would think there would also be stress cracks in other areas like sale values, or the need to adjust prices, or even how long properties are staying on market, but that's simply not the case. Many buyers thought that COVID-19 would be the cooler to allow them to take advantage of the lack of competition, which just hasn't been the case yet, based on lack of property availability. Going into the state of emergency we had been sat in a sellers market in many areas of the municipality for over a year, and were poised to continue that trend (although there were signs of slowing). To this point, we are still well seated in a sellers market, with no real sign of it letting up anytime soon, for now anyways. Stay tuned to the blog to keep a watchful eye on our ever changing market here in Halifax, and thanks for stopping by!
The Weekly Adogtable!
Hi Angels, I'm Bernie. I am an approx 10 yr old, 6.5lb terrier mix and I came all the way from Texas a few weeks ago to find my forever home.
I was quite sick shortly after I arrived but now that I am better, my foster mom says my little personality is really coming out. I am a sweet senior fella who enjoys a good ear rub and the occasional butt scratch. I trot behind my foster mom most of the time and have adopted her as my person. I am fine home alone and will do my business outside but I do not yet go to the door to ask to be let out, but I will hold it, so you must be mindful to take me outside periodically. I have had very few accidents lately.
I tolerate my foster fur siblings but their playful noises and antics seem to bring out my grumpy old man personality so I'd definitely prefer to be your one and only. I do not like sudden movements such as jumping, kicking or running. I will bark and become upset, so a home without small children is best too. I have not met any cats but again sudden movements and loud noises upset me so probably not ideal. Other loud noises upset me as well, such as the vacuum, electric mixer and blender. I will bark loudly and often when you even go near them.
I also do not like when the other dogs come near my food so I sometimes prefer to eat in my kennel. My kennel is my safe space and I like to have one available but may not need a safe space in a much quieter home. My kennel is always left open for me to enter or exit at my leisure.
I will let you pick me up but I don't really love it and find it very awkward to get comfortable. I'm ok once up but I definitely won't ask to be picked up. I don't mind leash walks but I only have one speed. Slow. I will sometimes sleep with the 12 yr old human but sometimes I'm just as content to sleep alone. If we have to go somewhere in the car, I'm content to just lay back on the seat. I tolerate baths but not my favorite thing. I may need my face washed after I eat, sometimes I get food in my beard. Toys? Pffft, I got no use for them. If I do feel like playing, your hand will do just fine.
I may not be able to make it onto the couch or up the stairs without help, but I still consider myself a "big dog". My little tail is always wagging when I see my foster mom (or food) and I am generally a happy little dude. I will even sometimes do spins.
I've had dental done while here but 2 teeth could not be removed without breaking my jaw. They cleaned them up really, really well and hope they won't be an issue later on in life but can't guarantee. If so I will probably need to see a dental specialist. This is something you will have to keep a watchful eye on as I do have a condition where my palate extends further into my throat than should so infections in my mouth are extra hard for me. I also have a grade 2/6 heart murmur but they say that's common for my age and breed.
If I sound like the doggy for your family..
My adoption fee is a $400 donation to help save more dogs like me. I am neutered, vaccinated, microchipped, and I have all my doggy papers to come home to you! You can apply for me at https://www.salcars.ca/adopt.
This "cuddly companion" is available through Save a Life Canada Animal Rescue Society, 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
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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