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 19th-26th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 215 (301, 336, 275, 234) *291
Sold: 158 (182, 158, 170, 180) *155
Sale To Listing Ratio: 74% (60%, 47%, 62%, 77%) *53%
Price Changes: 75 (84, 55, 55, 71) *105
Listings that went conditional/pending: 156 (214, 224, 193, 194) *190
Expired/Cancelled: 66 (58, 73, 72, 45) *67
Total Active Halifax/Dartmouth Inventory: 2,189 (2,184, 2,169, 2,148, 2,135) +3,181
Absorption Rate in weeks: 13 (13, 14, 14, 15) *23
Single Family Home Stats
Active Single Family Home: 1,163 (1,155, 1,147, 1,102, 1,105) *1,720
Average Single Family Home List Price: $368,480 ($359k,$393k,$323k,$342k) *$381k
Average Single Family Home Selling Price: $366,549 ($357k,$390k,$316k,$337k) *$370k
Single Family Home Sale to List Ratio This Week: 99% (99%, 99%, 98%, 98%) *97%
Median Single Family Home List Price (6 mo): $315,000 ($315k,$315k,$313k,$315k)*$290k
Median Single Family Home Sold Price (6 mo):$314,500 ($310k,$310k,$309k,$310k)*$284k
Average Days on Market Single Family Home: 36 (43, 59, 66, 62) *62
Active Condos: 142 (146, 137, 131, 128) *255
Average Condo Listing Price: $301,145 ($348k, $370k, $323k, $300k) *$252k
Average Condo Selling Price: $299,787 ($351k, $376k,$316k, $289k) *$246k
Condo Sale to List Ratio This Week: 99% (100%, 101%, 98%, 96%) 97%
Median Condo List Price (6 mo): $259,900 ($255k, $251k, $250k, $250k) *$240k
Median Condo Sold Price (6 mo): $254,100 ($249k, $248k, $242k, $241k) *$232k
Average Days on Market Condos: 20 (56, 78, 44, 30) *82
Active Vacant Lots: 740 (735, 743, 762, 754) *948
Definitely a sharp decline in activity this week, which was to be expected with a state of emergency issued over our city, but not as much as I was thinking. New listings had a measly showing this week, which is likely a direct cause of the pandemic since sellers who are occupying their homes are less likely to be ok with a train of strangers going through their homes to potentially contaminate it. Luckily, as mentioned last week, increased sanitary measures have been established when showing homes, in an attempt to keep people as protected as possible. Common showing instructions are no longer simple "please remove shows, and don't let the cat out" requests, they are now a bit more robust, with the addition of "people with cold or flue like symptoms are not allowed to view, who have travelled, limited numbers are allowed during showings (sorry mom and dad), and to wear PPE where possible (some homes are a must do). With these new measures in place, people are still allowing showings, and buyers are still interested in trekking out to visit homes, so we continue to limp along like many other industries. There was a significant drop in buyer activity this week, but again, it wasn't as much of a hit that I expected. As service after service shuts down, I wonder if that will continue the downward trend in this unique situation, or will it take a full stop on real estate activities all together to stop the market. For now, things carry on, although different, more cautious. Stay tuned to the blog to stay on top of this quickly changing situation as it pertains to our market, stay safe, and thanks for stopping by!
The Weekly Adogtable!
Walter is very active, playful, affectionate, amicable and vocal. He was never walked (doesn't understand the leash) but is house trained and crate trained. He was being left alone +/- 6 hours/day but barked a lot (possible separation anxiety?). He is playful w/ dogs (his sibling), unknown w/ other dogs but seems interested. Good w/ physical manipulations if he knows you (has a social disposition). Knows basic commands. Never seen a cat or other small animal. Good w/ kids: was living with 3 kids (2, 10 and 13 yrs).
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
LET ME HELP YOU OUT!
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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