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 March 26th - April 2nd, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 196 (215, 301, 336, 275) *408
Sold: 140 (158, 182, 158, 170) *147
Sale To Listing Ratio: 71% (74%, 60%, 47%, 62%) *36%
Price Changes: 47 (75, 84, 55, 55) *143
Listings that went conditional/pending: 116 (156, 214, 224, 193) *214
Expired/Cancelled/Withdrawn: 84 (66, 58, 73, 72) *161
Total Active Halifax/Dartmouth Inventory: 2,194 (2,189, 2,184, 2,169, 2,148) +3,204
Absorption Rate in weeks: 14 (13, 13, 14, 14) *22
Single Family Home Stats
Active Single Family Home: 1,177 (1,163, 1,155, 1,147, 1,102) *1,780
Average Single Family Home List Price: $348,759 ($369k,$359k,$393k,$323k) *$366k
Average Single Family Home Selling Price: $345,517 ($367k,$357k,$390k,$316k) *$356k
Single Family Home Sale to List Ratio This Week: 99% (99%,99%, 99%, 98%) *97%
Median Single Family Home List Price (6 mo): $315,900 ($315k,$315k,$315k,$313k)*$290k
Median Single Family Home Sold Price (6 mo):$314,663 ($315k,$310k,$310k,$309k)*$284k
Average Days on Market Single Family Home: 47 (36, 43, 59, 66) *71
Active Condos: 142 (142, 146, 137, 131) *248
Average Condo Listing Price: $264,657 ($301k, $348k, $370k, $323k) *$314k
Average Condo Selling Price: $264,182 ($300k, $351k, $376k,$316k) *$304k
Condo Sale to List Ratio This Week: 99% (99%, 100%, 101%, 98%) 97%
Median Condo List Price (6 mo): $252,500 ($260k, $255k, $251k, $250k) *$248k
Median Condo Sold Price (6 mo): $249,900 ($254k, $249k, $248k, $242k) *$241k
Average Days on Market Condos: 61 (20, 56, 78, 44) *60
Active Vacant Lots: 740 (740, 735, 743, 762) *923
The Halifax real estate train continues to slow down this week, but the brakes have not been fully applied yet. We are seeing significant reduction in activity though, to the tune of over 50% from this time last year in some cases, like the listings coming to market, and the listings that received and accepted offers as noted by the conditional/pending stat, which means buyer activity is also down. Still, there was almost as many properties that did go under contract this week as this time last year, and the absorption rate is still way down despite gaining a week this week, so there is still life out there! Of course, that is a stat that takes a long time to reflect the current market conditions, but quick changes can show immediate impacts of changing tides. Inventory made a slight gain overall, but not much, and the anticipation is that we will keep limping along like this until things start to return to a semblance of what we recognize as our way of life. Still, I do believe this will be a long haul event, that new protocols and measures will need to be taken to continue our due diligence in the fight against the spread of the virus. These small inconveniences will hopefully be embraced by the industry, and other industries, as we will have to adapt to be able to continue providing even a basic service like selling someones home. Thanks for stopping by, stay safe, and stay tuned to the blog for all things Halifax real estate!
The Weekly Adogtable!
Max was surrendered with his sister Chanelle. They are a bonded pair and must be kept together. They have always lived in the country, were kept outside but were allowed in the house at night. They are clean and quiet inside. No cats. No other dogs (Max is protective of Chanelle). No kids for now (need to be assessed with kids). They are shy, friendly and affectionate with people (have never met kids before). City life (noise, traffic) is too stimulating for them - they have never been around a busy environment so would need a rural setting.
These two absolutely love each other and enjoy playing together. They experience anxiety when separated. Slight guarding of food (they take their food away from what they see as a threat). Max is more greedy with food so they are separated for meal time because he tries to steal Chanelle's food. No separation anxiety. Not crate trained but they are house trained.
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
LET ME HELP YOU OUT!
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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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah