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 16th - 23rd, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 150 (139, 180, 196, 215) *329
Sold: 98 (104, 119, 140, 158) *206
Sale To Listing Ratio: 65% (75%, 66%, 71%, 74%) *63%
Price Changes: 70 (42, 45, 47, 75) *139
Listings that went conditional/pending: 112 (110, 120, 116, 156) *186
Expired/Cancelled/Withdrawn: 58 (68, 53, 84, 66) *69
Total Active Halifax/Dartmouth Inventory: 2,134 (2,155, 2,195, 2,194, 2,189) +3,312
Absorption Rate in weeks: 19 (17, 15, 14, 13) *18
Single Family Home Stats
Active Single Family Home: 1,141 (1,155, 1,184, 1,177, 1,163) *1,860
Average Single Family Home List Price: $351,330 ($352k,$337k,$349k,$369k) *$336k
Average Single Family Home Selling Price: $349,536 ($345k,$336k,$346k,$367k) *$329k
Single Family Home Sale to List Ratio This Week: 99% (98%, 99%, 99%, 99%) *98%
Median Single Family Home List Price (6 mo): $319,900 ($320k,$320k,$316k,$315k)*$290k
Median Single Family Home Sold Price (6 mo):$319,900 ($318k,$315k,$315k,$315k)*$283k
Average Days on Market Single Family Home: 47 (37, 51, 47, 36) *65
Active Condos: 141 (141, 143, 142, 142) *257
Average Condo Listing Price: $329,214 ($235k, $309k, $265k, $301k) *$243k
Average Condo Selling Price: $314,571 ($230k, $303k, $264k, $300k) *$236k
Condo Sale to List Ratio This Week: 96% (98%, 98%, 99%, 99%) 97%
Median Condo List Price (6 mo): $259,900 ($255k, $258k, $253k, $260k) *$246k
Median Condo Sold Price (6 mo): $255,000 ($253k, $254k, $250k, $254k) *$241k
Average Days on Market Condos: 84 (8, 12, 61, 20) *65
Active Vacant Lots: 715 (721, 730, 740, 740) *936
We may have hit a reaction balance since this state of emergency has taken effect, but it will likely be a few more weeks until that is confirmed. We are starting to see reoccurring reports as we trudge on, and it's not as dismal as one may think. There was a slight increase of new listings compared to last week, but still under half of what was reported last year at this time. Sales held steady around the 100 mark, which again reports under half of the reported sales from last year. Buyer activity, as tracked by the conditional/pending stat, held steady again this week, with only slight variation in the last month or so. That is a bit surprising since property selection is scarce, and even less selection this week. Overall inventory took another drop this week despite the slightly elevated new listing count, but as you will see from the sales to list ratio, sales still have the favour. One indicator of how a market is trending is the absorption rate. Sometimes taking weeks, or even months to change, but it can show the strength or weakness of the current market environment. Flashback to just a month ago and you will find the lowest absorption rate ever tracked on the blog, but in 4 short weeks, 6 weeks of padding was added to that stat, which is the fastest gain I have ever seen. Again, unique times, so there are expectations. The good news is that things are still slowly moving, although a crawl, and those persistent enough can still maneuver through the market for now. All we can do is wade at this point and continue to respect the boundaries set forth by the government. I imagine increased market activity will coincide with the release of some of the restrictions, but it's anyones guess when that will be. For now, it's business not so usual. Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Hi guys! My name is Denek and I am a 3 year old, chihuahua mix 7lb boy. I came from Texas a few weeks ago and am ready to find my forever home!
I am a fun loving little guy who loves to play with toys and sometimes I will let you know when its play time by jumping around all over you or chewing on your hand. If you have other doggies I will play all day with them, if they let me. I haven't been around cats but if they will play with me, I am sure we will get along.
On the flipside, I love to get belly rubs, snuggles, be held, carried around and my favourite; giving mouth kisses when least expected. When you go to bed please take me with you, I need help getting up on the bed and I love to sleep under the blankets with you. In the morning you may even find me down by your feet under there, as I like to explore.
When we go for walks, you may notice I prance about and will keep trying to get you to pick me up. My foster Mom ignores me when I do this and keeps on walking with me, but we don't go far anyway, just around the block is good for me.
I know my name, but don't always listen too well. I just get so excited about having fun. I also will beg for food, all food, any food? You may need to work with me more on that or I will try to even get it out of your mouth. That is a no no.
When it is time to go potty please stay with me, I will not go outside without you for a while. I am house trained, as long as you take me our regularly and remind me too go pee pee then I won't have accidents.
I really don't like being alone at all! I will cry and whine constantly. I would prefer a home that has someone home most of the time or takes me with them. When I am in the car, I will try to be with you, so if you are my person and drive you may need to get a doggy seat belt. I just really like being with my person.
Heads up, men scare me and new people. I may bark at them and tuck my tail. In time, I will allow pets and snuggles, but I tend to pick one person to be with and stick with them like glue.
Does it sound like you're my forever 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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah