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 June 18th-25th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 326 (350, 282, 355, 320) *357
Sold: 234 (245, 220, 186, 161) *221
Sale To Listing Ratio: 71% (70%, 78%, 54%, 53%) *62%
Price Changes: 117 (141, 89, 91, 66)*167
Listings that went conditional/pending: 290 (287, 302, 280, 242) *272
Expired/Cancelled/Withdrawn: 51 (39, 48, 96, 31) *66
Total Active Halifax/Dartmouth Inventory: 2,016 (2,068, 2,041, 2,095, 2,132) +3,387
Absorption Rate in weeks: 9 (10, 12, 14, 16) *16
Single Family Home Stats
Active Single Family Home: 1,038 (1,074, 1,068, 1,120, 1,130) *1,907
Average Single Family Home List Price: $390,088 ($363k,$371k,$377k,$383k) *$344k
Average Single Family Home Selling Price: $392,023 ($363k,$372k,$377k,$377k) *$337k
Single Family Home Sale to List Ratio This Week: 101% (100%,100%,100%,98%) *98%
Median Single Family Home List Price (6 mo): $329,900 ($328k,$327k,$325k,$325k)*$300k
Median Single Family Home Sold Price (6 mo):$328,000 ($325k,$325k,$325k,$320k)*$298k
Average Days on Market Single Family Home: 53 (38, 61, 11, 67) *58
Active Condos: 160 (165, 161, 165, 165) *248
Average Condo Listing Price: $378,264 ($295k,$262k, $263k, $266k) *$295k
Average Condo Selling Price: $368,547 ($295k,$261k, $259k, $264k) *$286k
Condo Sale to List Ratio This Week: 97% (100%, 99%, 98%, 99%) 97%
Median Condo List Price (6 mo): $279,900 ($274k,$275k, $274k, $269k) *$250k
Median Condo Sold Price (6 mo): $275,00 ($273k, $275k, $273k, $263k) *$240k
Average Days on Market Condos: 54 (17, 24, 36, 23)*67
Active Vacant Lots: 662 (676, 675, 675, 699) *955
We just can't seem to get any elevation! The overall inventory levels have hovered close to the 2,100 mark, but just haven't been able to crest it in the last month which is causing a larger divide from the inventory stock of last year. Single family home numbers really sank the inventory again this week and continues to press, which has been a key factor in driving that absorption rate down to historic lows. Speaking of, it has now hit an all time low, and the first single digit absorption rate I have ever reported in almost a decade of tracking these stats. The absorption rate is one of the most important tells regarding market health, and what this absorption rate is saying is that if all new listings stopped at this moment, it would only take a measly 9 weeks, or just over two months, to sell off everything for sale in HRM. Crazy stuff! There was almost a feeling of hope this week for buyers, as it seemed like a few more options came to market this week, but they were also met with above average interest, so the cycle continues. There does seem to be a little give in the $400k price point though, but if you are in the $250-$350k price point there is still a big challenge (especially south of $300k). Stats are still reflecting multiple offers in most products, especially the single family homes who reported that the average home in HRM are selling at or over asking. The buyer challenge continues as we continue the missed Spring market, so be sure to stay tuned to the blog to stay on top of the changing property landscape. Thanks for stopping by, and stay safe out there!
The Weekly Adogtable!
Hi guys! My name is Xena, I’m a 1 year old pitbull mix weighing around 50-60lbs. I am a local surrender and have been in the rescue for a few months and I'm ready to find my forever home!
I can be shy with an initial introduction but I’m great with people after that! I play very well with other dogs, including groups of dogs. I have met some cats and we did not get along so none of them in my forever home please!
I like bones and the peanut butter kong is my favorite treat but you have to remember to take the kong away once I’m finished or I’ll eat the kong! I can be very energetic, I enjoy going for walks up to an hour, but am content playing in the back yard as well.
Unfamiliar walkers may have some trouble controlling me, compared to my favorite person.
I don’t really understand fetch but I’m easily diverted if you’re playing with a stick, because I need the stick you’re playing with rather than the one I have. I am good in the car but I don't really like baths. I'm a good girl at the vet so you don't have to worry there! I really hope my forever home will let me have access to them during the night, I don’t need to be on the bed but I just like to know I can come say hi if I want!
I do suffer from separation anxiety that comes out in a few negative ways such as pooping or peeing despite being housebroken, or some destructive chewing (never furniture). Puppy proofing will go a long way with me!
I understand Sit, Stay, Down, Off, Up, Paw, and Touch. When I get too excited I play gently with my mouth, and understand “Don’t Bite” so once I hear that I switch quickly to licking again. I hope my human is ready to take on a strong, dominant role with me so I know they're in charge!
I love getting butt scratches and cuddling with my humans, I can't wait to find my forever family!
Are you my forever home?
My adoption fee is a $400 donation to help save more dogs like me. I am spayed, vaccinated, microchipped, and I have all my doggy papers to come home to you! You can apply for me at
This "cuddly companion" is available through Save a Life Canada Animal Rescue Society, a non profit rescue organization from 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!
Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to contact me with questions or comments. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Don't forget to bookmark my page, and visit often!
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty interactive real estate map? It's a powerful tool for all your property research needs and when you are ready to buy or sell, its the competitive edge over your competition! Not to mention, it's now more rewarding then ever to become a ViewPoint client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!
Looking for a little extra help finding that "needle in a haystack"? The innovators at my brokerage, ViewPoint Realty, have introduced another forward-thinking information tool for your property search needs. Its called "neighbourhoods" and it will break down some stats and give you a more focused tool on the area(s) you are looking for. We also offer mortgage and insurance solutions too! Check it out at viewpoint.ca and get more info now! Just another way Viewpoint Realty is advancing the property buying and selling process.
Newest Blog post HERE
Comments are closed.
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