The Halifax Real Estate Blog Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty
Halifax (HRM) Residential Statistic Update for the Week of July 9th - 16th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 341 (349, 312, 326, 350) *322
Sold: 218 (234, 257, 234, 245) *181
Sale To Listing Ratio: 64% (67%, 83%, 71%, 70%) *56%
Price Changes: 86 (122, 79, 117, 141)*190
Listings that went conditional/pending: 257 (312, 286, 290, 287) *217
Expired/Cancelled/Withdrawn: 55 (60, 110, 51, 39) *100
Total Active Halifax/Dartmouth Inventory: 1,921 (1,908, 1,941, 2,016, 2,068) +3,357
Absorption Rate in weeks: 8 (8, 8, 9, 10) *17
Single Family Home Stats
Active Single Family Home: 1,008 (1,007, 1,015, 1,038, 1,074) *1,903
Average Single Family Home List Price: $403,051 ($397k,$384k,$390k,$363k) *$326k
Average Single Family Home Selling Price: $404,519 ($397k,$383k,$392k,$363k) *$317k
Single Family Home Sale to List Ratio This Week: 100% (99%,100%,101%,100%) *98%
Median Single Family Home List Price (6 mo): $329,900 ($330k,$330k,$330k,$328k)*$299k
Median Single Family Home Sold Price (6 mo):$332,500 ($330k,$330k,$328k,$325k)*$290k
Average Days on Market Single Family Home: 59 (40, 56, 53, 38) *37
Active Condos: 157 (160, 155, 160, 165) *223
Average Condo Listing Price: $311,782 ($290k, $328k, $378k, $295k) *$243k
Average Condo Selling Price: $308,864 ($288k, $326k, $369k, $295k) *$241k
Condo Sale to List Ratio This Week: 99% (99%, 99%, 97%, 100%) 99%
Median Condo List Price (6 mo): $279,900 ($275, $280k, $280k, $274k) *$250k
Median Condo Sold Price (6 mo): $278,000 ($273k, $273k, $275k, $273k) *$240k
Average Days on Market Condos: 80 (50, 53, 54, 17)*31
Active Vacant Lots: 594 (592, 662, 662, 676) *953
Talk about the year of records! Historically low inventory levels in all tracked products, absorption rate in the single digits, and now we set a new benchmark this week with a report over $400k for both list and selling price for single family homes. This is the first time it has reported over $400k since tracking these stats, and I suppose if any market could do it, it would be our current one. Not much change in the 6 month median report for single family homes however, but the gap between the list and sale price narrowed a bit, and I predict this will continue to close as the 6 month median catches up to our current market of full and over asking property purchases. For the second week in a row the sales to list ratio dropped, which is largely in due to the sustained effort of sellers bringing their properties to market (finally) and a decreased interest from buyers at the moment. Not sure if the opening of the Atlantic Bubble created a bit of a "lets get out of here for the weekend" mentality, but it does seem to coincide with that announcement. You would think that it would have the opposite effect since there are likely many people relocating from the areas inside the Atlantic bubble, perhaps the exchange isn't largely needed in Atlantic Canada, more so the other provinces that are still required to isolate. In ether case, the market has turned a little like our weather, but things are no doubt bound to change again soon. Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
I’m Shaggy!! I’m a 3 year old, 37 lb pocket pit mix male with a compact body and lots of personality! I came from Texas last year, I thought I found my home but I was having trouble around new humans so I came back into the rescue and have been working hard so I'd like to try to find my home with someone who is ready to continue working with me!
I love my people it just takes me a while to trust. I have extreme stranger danger because I’m scared. I wear a muzzle when meeting new people because I have biten before out of fear. You will also have to do classes with me to help us build our bond together and learn the best skills to help me in the future!
I can bark when left home alone so I’d like a friend to be home with whether that’s my person or a fur sibling. I go to daycare and I play great with all the dogs. I also live with 3 dogs and we are the best of friends.
I do like my own space to eat, I don’t like them getting into my dish. And sometimes I don’t like them getting up on the couch or bed with me; but a firm no and I understand I’m not being nice.
I even live with cats. One I chase. And one I ignore. My foster mom thinks maybe I shouldn’t live with them in my forever home so we don't stress any kitties out. I also need no kids in my forever home, they move so fast and can be unpredictable which is not the best thing for me.
The car is ok I just need some time to settle and lay down then I’m good to go. I like to have my own seat. My favourite thing ever is walks!!! Oh boy can I walk. I do pull a lot at first from all the excitement of going out. After a few minutes I settle right down. However on my walks I bark at all the people and dogs. So we will have to work on that.
I’m fully housetrained. No accidents ever!! I do have some allergies so I’m on a special food and I need a special bath once a week or mom says I’m a stinky boy. I don’t know what that is but she makes funny faces at me. I just give her a big kiss and all is well.
She thinks I’m the best cuddler she has ever met. She says there is nothing like a Shaggy hug to brighten up your day 💙 I might not be the bestest boy but she says I deserve the right person who is willing to love me and all my faults and work with me to make me the goodest boy I can be, cause I’m worth it.
Are you my forever family?! 💙
**I am mandatory confidence classes with my new family**
My adoption fee is a $400 donation to help save more dogs like me. I am neutered and 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