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 April 30th - May 7th, 2020
(Previous weeks numbers in brackets)
*Previous Year's Stats
New/Back to Market Listings: 234 (166, 150, 139, 180) *401
Sold: 112 (131, 98, 104, 119) *209
Sale To Listing Ratio: 48% (65%, 65%, 75%, 66%) *52%
Price Changes: 55 (56, 70, 42, 45) *177
Listings that went conditional/pending: 164 (125, 112, 110, 120) *261
Expired/Cancelled/Withdrawn: 104 (32, 58, 68, 53) *62
Total Active Halifax/Dartmouth Inventory: 2,100 (2,135, 2,134, 2,155, 2,195) +3,300
Absorption Rate in weeks: 19 (19, 19, 17, 15) *16
Single Family Home Stats
Active Single Family Home: 1,113 (1,139, 1,141, 1,155, 1,184) *1,878
Average Single Family Home List Price: $358,596 ($362k,$351k,$352k,$337k) *$350k
Average Single Family Home Selling Price: $351,187 ($355k,$250k,$345k,$336k) *$344k
Single Family Home Sale to List Ratio This Week: 98% (98%, 99%, 98%, 99%) *98%
Median Single Family Home List Price (6 mo): $319,900 ($320k,$320k,$320k,$320k)*$299k
Median Single Family Home Sold Price (6 mo):$318,750 ($320k,$320k,$320k,$318k)*$290k
Average Days on Market Single Family Home: 61 (45, 47, 37, 51) *59
Active Condos: 152 (154, 141, 143, 142) *261
Average Condo Listing Price: $350,475 ($286k, $329k, $235k, $309k) *$276k
Average Condo Selling Price: $338,750 ($273k, $315k,$230k, $303k) *$272k
Condo Sale to List Ratio This Week: 97% (96%, 96%, 98%, 98%) 98%
Median Condo List Price (6 mo): $267,000 ($260k,$260k, 255k, $258k) *$245k
Median Condo Sold Price (6 mo): $261,000 ($255k, $255k, $253k, $254k) *$239k
Average Days on Market Condos: 40 (40, 84, 8, 12) *46
Active Vacant Lots: 717 (717, 721, 730, 740) *934
Gaining momentum! After a few weeks of subpar new listing entries, this week witnessed the return to average offerings. Certainly not as good as last year at this time, especially since we should be in the peak of listing season, but things are anything but usual at the moment. Sales slipped a bit this week but still doing quite well given the current market environment, and the surge of buyer activity this week should impact that stat a week or two down the road. As mentioned, buyers were quite active this week after a few weeks of mediocre performance, which might be helped along by the loosened restrictions and adoption of new viewing protocols to carry on with property transactions. With a touch of comfort given by the various transaction players the pubic seems to be back on board with continuing property sales, and with talks of even more restrictions being loosened by the end of the month, a surge is expected. When that does happen, buyers and sellers coming to, or returning to the market will likely be a bit surprised what is waiting for them. As the inventory continues to shrink and buyer activity resuming, it seems that the sellers market may take a stronger hold over HRM, but we still have awhile to gauge the overall impact of COVID-19. Stay tuned to the blog to find out! Thanks for stopping by!
The Weekly Adogtable!
Hi everyone! My name is Lihilihi (pronounced lee-lee), I am a 2 year old, 15lbs Chihuahua mix girl. I came all the way from Hawaii and am full of love and excited to find my furever home!
I am very leery of any new males in my life, adults or kids. I growl and bark to try and keep them away but nothing more than that. I LOVE my human foster sister, she is 5 years old and we cuddle all the time but like I said even the male kids seem scarier.
I haven't come across any cats yet but I may be a bit too curious for them. I really like small dogs my size but big dogs are a bit scary to me.
I am not used to the cold yet and need a little help with my potty training. I do better on warmer days and will sometimes use pee pads but I need some patience.
I love going on walks and I even like going for car rides! My foster family gives me yummy food when I'm good so I try to do my best! I do have quite a bit of energy, I've started playing with toys now and playing with my fur sibling helps as well!
When foster mom starts to sing I howl along with her, I'm assuming she wants it to be a duet anyway right? I have also been told I'm a kangaroo because I can jump so high when I'm excited!
I have been left home alone and I am not destructive. One of my favorite things to do is snuggle with my humans!
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 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 her 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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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