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Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 243 (270, 327, 263, 222) *266 Sold: 132 (103, 128, 115, 137) *117 Sale To Listing Ratio: 54% (38%, 39%, 44%, 62%) *44% Price Changes: 196 (187, 256, 190, 162) *168 Conditional Sale: 129 (146, 161, 132, 144) *142 Expired/Cancelled/Withdrawn: 154 (70, 78, 83, 136) *143 Total Active Halifax/Dartmouth Inventory: 2,317 (2,369, 2,343, 2,270, 2,228) *2,070 Absorption Rate: *19 (21, 18, 17, 17) *17 Single Family Home Stats Active Single Family Home: 1,257 (1,282, 1,277, 1,232, 1,202) *1,078 Average Single Family Home List Price: $652,148 ($617k, $621k, $674k, $667k) *$553k Average Single Family Home Selling Price: $643,161 ($602k, $604k, $654, $655k) *$541k Single Family Home Sale to List Ratio This Week: 99% (98%, 97%, 97%, 98%) *98% Median Single Family Home List Price (6 mo):$596,000 ($600k, $599k, $599k, $599k) *590K Median Single Family Home Sold Price(6mo): $585,000 ($587k,, $585k, $587k, $589k)*$585k Average Days on Market Single Family Home: 43 (47, 42, 43, 42) *33 Condo Stats Active Condos: 252 (261, 256, 260, 252) *225 Average Condo Listing Price: $439,900 ($416k, $458k, $460k, $407k) *$517k Average Condo Selling Price: $421,250 ($405k, $442k, $446k, $394k) *$507k Condo Sale to List Ratio This Week: 96% (97%, 97%, 97%, 97%) *98% Median Condo List Price (6 mo): $447,000 ($445k, $449k, $449k, $447k) *$450k Median Condo Sold Price (6 mo): $437,500 ($435k, $438k, $438k, $438k) *$440k Average Days on Market Condos 46 (68, 57, 44, 42) *35 Active Vacant Lots: 490 (499, 485, 467, 460) *468 Market Rant There’s a little more life in the market this week. After a fairly sluggish stretch, sales picked up noticeably while new listings remained relatively restrained. That combination helped bring overall inventory down from last week, although we’re still sitting well above where we were at the same time last year. The market is definitely not back to the frantic pace we’ve seen in previous years, but this week’s numbers suggest buyers are still active when the right properties come along. The bigger story continues to be selection. Buyers have considerably more choice than they did a year ago, and that extra inventory is giving them more time to make decisions. Sellers, meanwhile, are still achieving very close to asking price when their property is positioned correctly. So while the market is taking longer to work through its inventory, we're not seeing the kind of broad-based price erosion that can sometimes accompany a slower market. The single family market continues to show some stability despite the increased inventory. Active listings dropped slightly this week, but we're still carrying considerably more single-family inventory than we were a year ago. Average pricing moved higher from last week, and the six-month median list price remains just below the $600,000 mark. More importantly, the six-month median sold price is sitting at $585,000, exactly where it was this time last year. That stability is worth paying attention to. The 99% sale-to-list ratio tells us that buyers are still willing to pay very close to asking price for the right property. The issue isn't necessarily the amount buyers are willing to pay; it's how long they're willing to wait before making that decision. Average days on market remains well above last year's level, which reinforces the idea that buyers have become more patient. This is becoming a market where pricing correctly from the beginning matters more than trying to test the upper limits of the market. A well-priced property can still generate strong results, but sellers shouldn't assume that simply putting a higher number on the MLS will produce the same outcome. The condo market is showing a similar pattern, although the numbers continue to suggest that condos are facing a little more resistance than single-family homes. Active condo inventory has dipped again, and average days on market has improved significantly from the previous few weeks. That's encouraging. However, condos are still taking longer to sell than they were a year ago, and the average sale-to-list ratio remains at 96%, suggesting buyers are finding a little more room to negotiate. The six-month median sold price has remained remarkably steady at $437,500, only slightly below last year's $440,000. That tells us the underlying condo market is relatively stable even though individual sales can vary considerably from week to week. The condo market continues to be very property-specific. Building, location, condo fees, condition, parking and overall value proposition are all playing a major role in how quickly a unit moves. Buyers have options, so condos that stand out for the right reasons are going to have a much easier time attracting attention. The Bottom Line Here's the thing I'm watching right now: the market is starting to separate the “good listings” from the “available listings.” Those aren't necessarily the same thing anymore. We have plenty of inventory, and buyers know they don't have to settle. They can look at one house today, another tomorrow and wait to see what hits the market next week. But that doesn't mean they're sitting on their hands, this week's increase in sales is a good reminder that buyers are still very much in the game. They're simply being selective about where they put their money. And I think that's the biggest shift we're seeing as we move through the fall. A property that is well priced, well presented and offers good value can still get a buyer and can still sell very close to asking. But if something is overpriced, dated or doesn't stack up against the competition, buyers are perfectly comfortable walking away. The market isn't necessarily rejecting properties, it's rejecting poor value. That's an important distinction for both buyers and sellers. Buyers have more leverage than they've had in recent years, but sellers still have plenty of opportunity if they understand what today's buyer is actually looking for. The days of simply putting a property on the market and waiting for demand to create the price are behind us for now. We're back to a market where strategy, presentation and realistic pricing matter, and honestly, that's probably a healthier place for the market to be. Stay tuned to the blog to stay on top of the changing market, and as always, thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 270 (327, 263, 222, 234) *295 Sold: 103 (128, 115, 137, 138) *117 Sale To Listing Ratio: 38% (39%, 44%, 62%, 59%) *40% Price Changes: 187 (256, 190, 162, 123) *154 Conditional Sale: 146 (161, 132, 144, 148) *171 Expired/Cancelled/Withdrawn: 70 (78, 83, 136, 81) *80 Total Active Halifax/Dartmouth Inventory: 2,369 (2,343, 2,270, 2,228, 2,288) *2,096 Absorption Rate: *21 (18, 17, 17, 17) *18 Single Family Home Stats Active Single Family Home: 1,282 (1,277, 1,232, 1,202, 1,234) *1,092 Average Single Family Home List Price: $617,062 ($621k, $674k, $667k, $630k) *$570k Average Single Family Home Selling Price: $601,802 ($604k, $654, $655k, $625k) *$563k Single Family Home Sale to List Ratio This Week: 98% (97%, 97%, 98%, 99%) *99% Median Single Family Home List Price (6 mo):$599,000 ($599k, $599k, $599k, $599k) *590K Median Single Family Home Sold Price(6mo): $587,000 ($585k, $587k, $589k, $590k)*$586k Average Days on Market Single Family Home: 47 (42, 43, 42, 42) *45 Condo Stats Active Condos: 261 (256, 260, 252, 263) *235 Average Condo Listing Price: $415,827 ($458k, $460k, $407k, $431k) *$480k Average Condo Selling Price: $404,450 ($442k, $446k, $394k, $413k) *$461k Condo Sale to List Ratio This Week: 97% (97%, 97%, 97%, 96%) *96% Median Condo List Price (6 mo): $444,950 ($449k, $449k, $447k, $450k) *$450k Median Condo Sold Price (6 mo): $435,000 ($438k, $438k, $438k, $438k) *$440k Average Days on Market Condos 68 (57, 44, 42, 58) *77 Active Vacant Lots: 499 (485, 467, 460, 471) *471 Market Rant Well, the fall market is starting to make its presence known. After a busy summer of new listings and steady activity, we're now seeing a little more breathing room develop in the market. New listings have eased from last week's surge, but sales have also slowed, leaving us with another increase in overall inventory. Buyers have more choices than they did even a few weeks ago, while sellers are having to work a little harder to capture attention. The interesting part is that the increase in inventory isn't being matched by a dramatic change in the underlying price structure. The longer term median prices for single family homes and condos remain relatively stable, while properties that do sell are still achieving close to asking price. What we're seeing right now looks much more like a market that's taking its foot off the gas than one that's suddenly hitting the brakes. The single family market continues to show some resilience, but there are signs that buyers are becoming more deliberate. Inventory has edged higher again and is now well above where we were at this point last year. Meanwhile, average pricing has settled back from some of the higher weekly numbers we've seen recently. The more important number, however, is the six-month median sale price, which has actually ticked back up and remains very close to last year's level. That tells us something important: weekly averages can be noisy, but the broader market isn't showing a major price correction. The 98% sale-to-list ratio is another positive indicator for sellers. Buyers are still paying very close to asking when the property is priced appropriately. The catch is that they're taking longer to get there. Average days on market has climbed again, and we're now seeing homes take longer to find their buyer than they did earlier in the summer. In other words, the market hasn't stopped working, it's just taking a little longer to get the deal done. The condo market is where the slowdown is becoming much more obvious. Inventory remains fairly steady, but average days on market has jumped again, reaching the highest point we've seen in this recent run of numbers. Compared with last year, condos are still selling more quickly overall, but the recent trend is clearly moving toward longer decision times. The six-month median sold price has also edged lower, although it remains relatively close to last year's level. The 97% sale-to-list ratio continues to tell us that buyers aren't necessarily demanding huge discounts once they decide to purchase, they're simply taking more time to decide which property deserves their offer. And that's an important distinction. The condo buyer hasn't disappeared. They're just shopping. With more inventory available and fewer reasons to rush, buyers can compare buildings, fees, locations, condition and pricing before making a decision. Sellers who recognize that dynamic and price accordingly are going to be in a much better position than those waiting for the market to behave like it did during the more aggressive years. The Bottom Line I think we're finally seeing the difference between a "slow market" and a “bad market.” They're not the same thing. A slow market simply means buyers aren't in a hurry, and that's exactly what the numbers are telling us right now. Inventory is climbing, days on market are stretching out, and sales have slowed, but when buyers do make a decision, they're still paying remarkably close to asking price. That's not a market that's refusing to buy; it's a market that's refusing to be rushed. And honestly, I think that's probably the biggest adjustment sellers are going to have to make this fall. For the last few years, we've become accustomed to buyers scrambling to secure a property before someone else gets it. Now we're moving into an environment where a buyer can say, “I like this house… but let's see what else comes up next week.” That's a pretty significant psychological shift. Sellers don't necessarily need to panic and slash prices, but they do need to understand that overpricing now has a much bigger consequence than it did when inventory was tight. The market is giving buyers options, and buyers are using them. So if your house is sitting there wondering why nobody has bought it yet, the answer may not be that buyers aren't out there, it may simply be that they haven't found a reason to choose *your* house over the other options available to them. Stay tuned to the blog to stay on top of the changing market, and as always, thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 327 (263, 222, 234, 244) *274 Sold: 128 (115, 137, 138, 131) *133 Sale To Listing Ratio: 39% (44%, 62%, 59%, 54%) *49% Price Changes: 256 (190, 162, 123, 157) *159 Conditional Sale: 161 (132, 144, 148, 151) *154 Expired/Cancelled/Withdrawn: 78 (83, 136, 81, 84) *67 Total Active Halifax/Dartmouth Inventory: 2,343 (2,270, 2,228, 2,288, 2,299) *2,090 Absorption Rate: *18 (17, 17, 17, 18) *17 Single Family Home Stats Active Single Family Home: 1,277 (1,232, 1,202, 1,234, 1,240) *1,081 Average Single Family Home List Price: $621,393 ($674k, $667k, $630k, $632k) *$570k Average Single Family Home Selling Price: $603,707 ($654, $655k, $625k, $612k) *$561k Single Family Home Sale to List Ratio This Week: 97% (97%, 98%, 99%, 97%) *99% Median Single Family Home List Price (6 mo):$599,000 ($599k, $599k, $599k, $600k) *594K Median Single Family Home Sold Price(6mo): $585,000 ($587k, $589k, $590k, $590k)*$586k Average Days on Market Single Family Home: 42 (43, 42, 42, 36) *49 Condo Stats Active Condos: 256 (260, 252, 263, 271) *234 Average Condo Listing Price: $458,033 ($460k, $407k, $431k, $448k) *$521k Average Condo Selling Price: $442,302 ($446k, $394k, $413k, $440k) *$496k Condo Sale to List Ratio This Week: 97% (97%, 97%, 96%, 98%) *95% Median Condo List Price (6 mo): $449,000 ($449k, $447k, $450k, $450k) *$450k Median Condo Sold Price (6 mo): $437,500 ($438k, $438k, $438k, $440k) *$440k Average Days on Market Condos 57 (44, 42, 58, 48) *80 Active Vacant Lots: 485 (467, 460, 471, 476) *473 Market Rant The Halifax market is giving us a pretty interesting snapshot this week. More properties are coming to market, buyers are still making deals, but the balance between supply and demand is continuing to shift. New listings jumped considerably this week, pushing overall inventory to another recent high, while the number of completed sales remained relatively consistent. At the same time, we're seeing a significant increase in price adjustments, which is an important sign that sellers are responding to the changing environment. This doesn't necessarily mean the market is falling apart, far from it. In fact, homes that are properly priced are still selling very close to asking, and the underlying sales activity remains respectable. What is changing is the amount of choice buyers have and the amount of competition sellers are facing. The single-family market is where I think the story gets particularly interesting. Inventory has continued to build and is now substantially higher than it was a year ago. At the same time, the six-month median sale price has remained remarkably stable, sitting only slightly below where it was last year. That's an important distinction: we're seeing more inventory without seeing a corresponding collapse in the underlying price levels. The average sale price is down from the unusually high number we saw last week, but weekly averages can move around considerably depending on the mix of properties that sell. The longer-term median is a much better indicator of the broader market, and that number continues to show relative stability. The sale-to-list ratio also remains strong. Buyers may have more negotiating power than they did previously, but they're still paying close to asking price when they find a property that makes sense. Days on market remain higher than last year, however, which reinforces the idea that buyers are no longer feeling quite the same urgency. Good homes are still selling, they're just having to earn the buyer's attention. The condo market continues to tell a slightly different story. Inventory has actually eased a little from the previous week, and the six-month median sale price remains essentially unchanged. Compared with last year, the average selling price is lower, but again, the longer-term median suggests considerably more stability than the weekly averages might initially imply. The bigger story is the increase in days on market. Condos are taking longer to sell than they were earlier in the summer, and buyers appear to have more time to compare buildings, locations, fees, condition and pricing before making a decision. The encouraging piece for sellers is that condos that do sell are still achieving roughly 97% of asking price. This isn't a market where buyers have stopped buying, it's a market where they're becoming more selective about what they buy. The Bottom Line I think we're officially entering the price it properly or prepare to wait phase of the market. We're seeing a pretty dramatic increase in price changes, and I don't think that's a coincidence. Sellers are looking at the growing number of competing properties and realizing that yesterday's pricing strategy may not necessarily work in today's environment. At the same time, buyers aren't disappearing, they're simply being given more opportunities to shop around. That's an important distinction. When buyers have limited choices, almost anything reasonably priced can attract attention. When they have hundreds of options, the properties that stand out are the ones that offer the right combination of price, condition, location and overall value. And that's exactly what we're starting to see. The interesting part is that despite all this additional inventory, properties that do sell are still selling very close to asking price. So rather than thinking of this as a market where buyers are suddenly demanding huge discounts, I'd describe it as a market where buyers are becoming much more selective about which properties deserve their offer. For sellers, that makes the initial pricing decision more important than ever. For buyers, it means patience and comparison shopping can pay off. And for those of us watching the market week to week, this is probably one of the more interesting transitions we've seen in a while. Stay tuned to the blog to stay on top of the changing market, and as always, thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 263 (222, 234, 244, 278) *258 Sold: 115 (137, 138, 131, 132) *114 Sale To Listing Ratio: 44% (62%, 59%, 54%, 48%) *44% Price Changes: 190 (162, 123, 157, 180) *165 Conditional Sale: 132 (144, 148, 151, 144) *123 Expired/Cancelled/Withdrawn: 83 (136, 81, 84, 63) *54 Total Active Halifax/Dartmouth Inventory: 2,270 (2,228, 2,288, 2,299, 2,303) *2,003 Absorption Rate: *17 (17, 17, 18, 18) *16 Single Family Home Stats Active Single Family Home: 1,232 (1,202, 1,234, 1,240, 1,246) *1,041 Average Single Family Home List Price: $673,519 ($667k, $630k, $632k, $641k) *$585k Average Single Family Home Selling Price: $653,788 ($655k, $625k, $612k, $634k) *$573k Single Family Home Sale to List Ratio This Week: 97% (98%, 99%, 97%, 99%) *98% Median Single Family Home List Price (6 mo):$599,000 ($599k, $599k, $600k, $600k) *599K Median Single Family Home Sold Price(6mo): $587,000 ($589k, $590k, $590k, $590k)*$590k Average Days on Market Single Family Home: 43 (42, 42, 36, 40) *36 Condo Stats Active Condos: 260 (252, 263, 271, 270) *219 Average Condo Listing Price: $459,461 ($407k, $431k, $448k, $438k) *$477k Average Condo Selling Price: $445,492 ($394k, $413k, $440k, $432k) *$466k Condo Sale to List Ratio This Week: 97% (97%, 96%, 98%, 99%) *98% Median Condo List Price (6 mo): $449,000 ($447k, $450k, $450k, 450k) *$450k Median Condo Sold Price (6 mo): $437,500 ($438k, $438k, $440k, $440k) *$440k Average Days on Market Condos 44 (42, 58, 48, 35) *35 Active Vacant Lots: 467 (460, 471, 476, 478) *461 Market Rant As we turn the corner into September, the Halifax market is starting to show some of the seasonal changes we typically expect this time of year. New listings have eased, sales have pulled back from the stronger numbers we saw recently, and overall inventory has remained well above where it was a year ago. That said, this isn't a market that's sitting still. Buyers are still active, conditional sales continue to come in, and well-positioned properties are finding buyers. The difference is that we're seeing a little less urgency across the board, and that is creating a market where strategy matters more than momentum. The single family market continues to show reasonable stability despite the larger amount of inventory available to buyers. The six-month median sale price remains essentially unchanged, while the average selling price is still well above where it was at the same time last year. Homes are also continuing to sell very close to asking price, which tells us that buyers aren't necessarily looking for massive discounts when they find the right property. The bigger change is*time. We're now seeing homes take longer to sell than they were earlier in the summer. With more choice available, buyers can afford to take their time and compare properties rather than feeling pressured to make a decision immediately. For sellers, that means preparation and positioning are becoming increasingly important. A home doesn't necessarily need to be the cheapest option, but buyers need to feel that they're getting good value. The condo market is following a similar pattern, although it continues to move at a slightly different pace. Inventory has actually edged down from recent weeks, while the longer term median pricing remains remarkably consistent. The average selling price is also continuing to track fairly close to the average list price, although the current sale-to-list ratio suggests buyers are having a little more room to negotiate. Days on market remain elevated compared with last year, reinforcing the idea that condo buyers are taking their time. For sellers, this is a market where pricing, presentation and patience all matter. Buyers have options, and they're doing their homework before committing. Bottom Line: I think we're entering the part of the year where patience is going to become one of the most valuable tools in the market. We've spent the summer watching inventory climb while buyers continued to purchase, and now we're starting to see the normal seasonal slowdown creep in. The temptation is to look at a few slower weeks and immediately declare that the market is falling apart, but I don't think the numbers support that. What we're seeing is a market with more choices, more negotiating room and a little less urgency. And honestly, that's not necessarily a bad thing. Buyers can take their time, sellers have an opportunity to properly position their properties, and everyone has a little more information to work with. The interesting part will be watching what happens as we move further into the fall. If inventory continues to hold while sales remain steady, we'll have a very different market than we had a year or two ago. But if inventory starts to come down and buyers continue to transact, we may simply be watching the market settle into a new, more steadied pace. The next few weeks should tell us a lot. Stay tuned to the blog to stay on top of the changing market, and as always, thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 222 (234, 244, 278, 262) *198 Sold: 137 (138, 131, 132, 126) *108 Sale To Listing Ratio: 62% (59%, 54%, 48%, 48%) *54% Price Changes: 162 (123, 157, 180, 164) *129 Conditional Sale: 144 (148, 151, 144, 149) *141 Expired/Cancelled/Withdrawn: 136 (81, 84, 63, 130) *112 Total Active Halifax/Dartmouth Inventory: 2,228 (2,288, 2,299, 2,303, 2,257) *1,938 Absorption Rate: *17 (17, 18, 18, 16) *15 Single Family Home Stats Active Single Family Home: 1,202 (1,234, 1,240, 1,246, 1,219) *1,008 Average Single Family Home List Price: $667,305 ($630k, $632k, $641k, $662k) *$575k Average Single Family Home Selling Price: $654,807 ($625k, $612k, $634k, $642k) *$565k Single Family Home Sale to List Ratio This Week: 98% (99%, 97%, 99%, 97%) *94% Median Single Family Home List Price (6 mo):$599,000 ($599k, $600k, $600k, $600k) *599K Median Single Family Home Sold Price(6mo): $588,800 ($590k, $590k, $590k, $590k)*$590k Average Days on Market Single Family Home: 42 (42, 36, 40, 39) *37 Condo Stats Active Condos: 252 (263, 271, 270, 266) *219 Average Condo Listing Price: $406,613 ($431k, $448k, $438k, $435k) *$450k Average Condo Selling Price: $394,226 ($413k, $440k, $432k, $423k) *$435k Condo Sale to List Ratio This Week: 97% (96%, 98%, 99%, 97%) *97% Median Condo List Price (6 mo): $447,000 ($450k, $450k, 450k, $450k) *$450k Median Condo Sold Price (6 mo): $437,500 ($438k, $440k, $440k, $439k) *$445k Average Days on Market Condos 42 (58, 48, 35, 50) *81 Active Vacant Lots: 460 (471, 476, 478, 467) *443 Market Rant The market is showing a bit of a late-summer reset. New listings have slowed, overall inventory has pulled back from its recent peak, and yet buyers are continuing to transact. In fact, the relationship between new listings and sales has improved noticeably. That suggests that while buyers have more choice than they did a year ago, they're not simply sitting on the sidelines waiting for prices to fall. Instead, we're seeing a market where buyers are becoming selective, but motivated buyers are still moving. And that's an important distinction. The single-family market continues to show some underlying strength. Inventory has eased from recent highs, while pricing remains remarkably stable. The longer-term median pricing has barely moved, which continues to support the idea that we're not seeing a significant correction in the overall single-family market. The interesting piece is the relationship between price and time on market. Homes are still selling very close to asking when they're priced appropriately, but they're generally taking longer to find the right buyer than they did during the more aggressive periods of the market. That means sellers need to be realistic from day one. The good news? Buyers are still paying for the right house. The days of simply putting a house on the market and assuming multiple offers will magically appear are behind us. But a well-priced, well-presented property can still generate strong activity. The condo market is telling a slightly different story. Inventory has continued to come down, but the average pricing numbers remain somewhat volatile from week to week. That's likely reflective of the mix of properties selling, rather than a dramatic change in the underlying condo market. The longer-term median values remain relatively steady, which is encouraging. Where condos continue to struggle a little more is time on market. Buyers have options, and they're taking their time finding the right combination of price, location, building quality and monthly fees. For condo sellers, this makes accurate pricing particularly important. A condo that is positioned properly can absolutely attract a buyer, but an optimistic price can leave a property sitting while competing listings get the attention. The market is giving buyers more choices, but that doesn't necessarily mean we're heading toward a major correction. We've watched inventory build substantially compared with this time last year, and while that understandably gets a lot of attention, inventory on its own doesn't tell the whole story. The other half of the equation is what buyers are actually doing, and we're still seeing a steady stream of sales happening every week. What I find particularly interesting right now is that we're entering a period where the pace of the market matters more than the sheer amount of inventory. When there are lots of listings but buyers aren't moving, inventory can snowball pretty quickly. When new listings slow down and buyers continue purchasing, the picture changes. That's essentially what we're seeing right now. It's also why I don't think it's particularly useful to simply label the market as "hot" or "cold." It's neither. It's "selective". There are properties that sit, properties that sell quickly, properties that require a price adjustment, and properties that generate strong interest almost immediately. That's actually a much healthier market than one where everything sells regardless of price or condition. I also think the next little while will be interesting. As we move through the fall, we'll get a much better indication of whether the additional inventory we've accumulated is simply giving buyers more choice, or whether we're beginning to see a more meaningful shift in demand. For now, though, I'm not seeing a market that's stopped. I'm seeing a market that's finding its balance. And after the last few years, maybe that's not such a bad place to be. The Bottom Line We're in a market that offers more choice for buyers without completely taking the wind out of the sails for sellers. Inventory is still considerably higher than last year, but recent activity shows that buyers remain engaged. Single-family pricing continues to hold relatively steady, while condos are facing a little more variability and longer decision times. For buyers, this is a market where patience can be an advantage. For sellers, the message is even simpler: Don't chase the market. Read it. Price properly, present your home well, and understand what you're competing against. The market may not be as frantic as it once was, but there are still plenty of buyers out there, and the right property can still get their attention. Stay tuned to the blog to stay on top of the changing market, and as always, thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 234 (244, 278, 262, 249) *218 Sold: 138 (131, 132, 126, 120) *136 Sale To Listing Ratio: 59% (54%, 48%, 48%, 48%) *62% Price Changes: 123 (157, 180, 164, 163) *94 Conditional Sale: 148 (151, 144, 149, 154) *136 Expired/Cancelled/Withdrawn: 81 (84, 63, 130, 56) *58 Total Active Halifax/Dartmouth Inventory: 2,288 (2,299, 2,303, 2,257, 2,272) *1,999 Absorption Rate: *17 (18, 18, 16, 15) *14 Single Family Home Stats Active Single Family Home: 1,234 (1,240, 1,246, 1,219, 1,226) *1,038 Average Single Family Home List Price: $630,200 ($632k, $641k, $662k, $652k) *$575k Average Single Family Home Selling Price: $625,321 ($612k, $634k, $642k, $646k) *$565k Single Family Home Sale to List Ratio This Week: 99% (97%, 99%, 97%, 99%) *94% Median Single Family Home List Price (6 mo):$599,000 ($600k, $600k, $600k, $599k) *599K Median Single Family Home Sold Price(6mo): $589,900 ($590k, $590k, $590k, $590k)*$590k Average Days on Market Single Family Home: 42 (36, 40, 39, 30) *35 Condo Stats Active Condos: 263 (271, 270, 266, 268) *233 Average Condo Listing Price: $430,965 ($448k, $438k, $435k, $495k) *$450k Average Condo Selling Price: $413,439 ($440k, $432k, $423k, $481k) *$435k Condo Sale to List Ratio This Week: 96% (98%, 99%, 97%, 97%) *97% Median Condo List Price (6 mo): $449,700 ($450k, 450k, $450k, $450k) *$450k Median Condo Sold Price (6 mo): $437,500 ($440k, $440k, $439k, $438k) *$440k Average Days on Market Condos 58 (48, 35, 50, 57) *81 Active Vacant Lots: 471 (476, 478, 467, 465) *443 Market Rant The market is settling into an interesting late-summer swing. Inventory remains elevated, but buyer activity is showing some renewed strength, and that's creating a bit more balance than we've seen in recent weeks. The biggest headline this week is the relationship between new listings and sales. While fewer properties came onto the market than in the previous few weeks, sales actually increased. That's a healthy sign for sellers because it suggests buyers are still actively engaging with the market rather than simply sitting on the sidelines. At the same time, overall inventory barely moved. We're still sitting well above last year's levels, which means buyers continue to have considerably more selection than they did a year ago. That extra choice is keeping sellers on their toes, but it also creates opportunities for buyers who are willing to do their homework. The single-family market continues to look relatively resilient. The underlying pricing numbers haven't changed dramatically, and homes that are priced properly are still selling very close to asking price. That's important. Despite the additional inventory, we're not seeing a wholesale breakdown in pricing. What has changed is the amount of time properties are spending on the market. We're seeing more breathing room for buyers, which means sellers have less margin for error when it comes to pricing, condition and presentation. The good news for sellers is that the market is still rewarding the right properties. The challenge is making sure your home is one of those properties. The condo market is a little more challenging. Inventory has remained fairly consistent, but condos are taking longer to sell than single-family homes. Pricing also continues to show some variability from week to week, suggesting that buyers are being particularly selective. Interestingly, the longer-term median pricing remains quite stable. That tells me we're dealing more with short-term fluctuations in the mix of condos selling than a major shift in the overall value of the condo market. For condo sellers, though, the message is clear: pricing matters. Buyers have options, and an overpriced unit can quickly become yesterday's listing. The Weekly Chat Here's something I think is worth talking about this week: More inventory doesn't automatically mean a buyer's market. We've been watching inventory climb for quite some time now, and it's easy to look at those numbers and think, Well, buyers must have all the power. Not necessarily. What matters is what buyers are actually doing with that inventory. This week, we're seeing more sales while new listings slowed down. That's a little reminder that buyers are still out there. They're just being more selective about where they spend their money. And honestly, I think that's the biggest change we're seeing in the market. A buyer doesn't necessarily have to jump on the first house they like anymore. They can look at one. Look at another. Think about it. Check out the price. Compare it to something else. And maybe come back a few days later. That creates a completely different selling environment. It also explains why we're continuing to see a significant number of price changes. Sellers are watching the competition, watching the showing activity, and adjusting when the market isn't responding the way they hoped. And that's not necessarily a bad thing. A price adjustment isn't a failure. Sometimes it's simply the market giving you information. The mistake is ignoring that information. We're also seeing something encouraging on the sales side: single-family homes are still achieving very strong sale-to-list performance. That tells me buyers aren't necessarily looking for a bargain basement deal, they're looking for value. There's a big difference. If a house is priced appropriately, shows well and checks the right boxes, buyers are still willing to pay for it. But if the price doesn't match the property? Well... buyers have plenty of other doors they can knock on. And that, folks, is probably the biggest difference between today's market and the crazy markets we experienced a few years ago. You can no longer rely on the market to sell your house for you. You need a strategy. The Bottom Line The Halifax market continues to move toward a more balanced and choice driven environment. Inventory remains significantly higher than last year, giving buyers more options and more time to make decisions. At the same time, sales activity remains healthy, particularly in the single-family segment, and properly priced homes continue to command strong offers relative to asking price. For buyers, this is a market where patience and comparison shopping can pay off. For sellers, it's all about getting the fundamentals right: pricing, preparation, presentation and marketing. The market isn't standing still, and neither should your strategy. Stay tuned to the blog to keep on top of the ever changing market, and as always, thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 244 (278, 262, 249, 270) *270 Sold: 131 (132, 126, 120, 143) *145 Sale To Listing Ratio: 54% (48%, 48%, 48%, 53%) *54% Price Changes: 157 (180, 164, 163, 143) *148 Conditional Sale: 151 (144, 149, 154, 149) *148 Expired/Cancelled/Withdrawn: 84 (63, 130, 56, 68) *44 Total Active Halifax/Dartmouth Inventory: 2,299 (2,303, 2,257, 2,272, 2,248) *1,998 Absorption Rate: *18 (18, 16, 15, 15) *14 Single Family Home Stats Active Single Family Home: 1,240 (1,246, 1,219, 1,226, 1,206) *1,044 Average Single Family Home List Price: $632,191 ($641k, $662k, $652k, $636k) *$575k Average Single Family Home Selling Price: $611,471 ($634k, $642k, $646k, $622k) *$562k Single Family Home Sale to List Ratio This Week: 97% (99%, 97%, 99%, 98%) *97% Median Single Family Home List Price (6 mo):$599,500 ($600k, $600k, $599k, $600k) *599K Median Single Family Home Sold Price(6mo): $589,900 ($590k, $590k, $590k, $591k)*$590k Average Days on Market Single Family Home: 36 (40, 39, 30, 36) *31 Condo Stats Active Condos: 271 (270, 266, 268, 270) *229 Average Condo Listing Price: $447,450 ($438k, $435k, $495k, $484k) *$461k Average Condo Selling Price: $440,000 ($432k, $423k, $481k, $470k) *$460k Condo Sale to List Ratio This Week: 98% (99%, 97%, 97%, 97%) *99% Median Condo List Price (6 mo): $449,900 (450k, $450k, $450k, $450k) *$450k Median Condo Sold Price (6 mo): $440,000 ($440k, $439k, $438k, $437k) *$440k Average Days on Market Condos 48 (35, 50, 57, 33) *24 Active Vacant Lots: 476 (478, 467, 465, 448) *445 Market Rant This week’s numbers paint an interesting picture: the market is still active, but buyers have plenty of choices. Inventory remains elevated, while sales activity continues to hold its own. That combination is creating a market where buyers can take a little more time, compare properties, and be selective, while sellers need to make sure their property stands out from the competition. The overall market continues to carry considerably more inventory than it did at this time last year. That doesn't necessarily mean things are slow, though. We're still seeing a healthy number of homes sell each week, and conditional sales remain active. The big difference is that buyers aren't being forced into decisions simply because there aren't enough properties available. For single-family homes, the underlying market remains relatively steady. Pricing has stayed remarkably consistent over the past several months, and homes that are priced appropriately are still selling close to their asking price. The recent increase in market time is worth watching, however. We're no longer in an environment where simply putting a home on the market guarantees immediate attention. The condo market is showing a similar story. Inventory is higher than last year, while pricing remains fairly stable. Condos are taking a little longer to move than single-family homes, which again points to the importance of realistic pricing and strong presentation. One of the more interesting things this week is the continued volume of price changes. That's a pretty clear indication that sellers are actively responding to the market rather than simply waiting it out. When buyers have options, the market tends to become very good at telling sellers whether their pricing strategy is working. And that's really the theme right now: There is still plenty of activity, but there is also plenty of competition. The Evolving Market Okay, let's talk about something that keeps popping up in conversations with sellers... "But it's a good house!" Yes. I know. Your house is good. It might actually be great. But here's the problem: being a great house doesn't automatically make it a great buy. Buyers aren't walking into the market thinking, "I hope I can find the most expensive house available." They're looking at several properties and asking themselves: "Which one gives me the best combination of price, location, condition and value?" And right now, they have plenty of options to compare. That's why I think we're seeing so many price adjustments. Sellers aren't necessarily discovering that their homes aren't desirable. They're discovering that the market has alternatives. If your house is priced $30,000 higher than another comparable property that offers similar features, buyers are going to notice. And they're probably going to tour the other house first. This is where I think good pricing strategy becomes more important than ever. You don't necessarily have to be the cheapest house on the street, but you do need to make a buyer feel like your property is worth choosing. Because here's the reality of today's market: Buyers don't have to settle. They can wait. They can compare. They can negotiate. And if they don't like the value proposition, there's a good chance they'll simply move on to the next listing. For sellers, that's not bad news. It just means the strategy has to change. Price it properly. Make it shine. Market it aggressively. And give buyers a reason to choose it. The days of throwing a number on the MLS and hoping the market does the rest are becoming a distant memory. And honestly? That's probably a good thing. The Bottom Line We're in a market where activity remains healthy, but competition is real. Inventory continues to give buyers more breathing room, while stable pricing and strong sale-to-list performance show that well positioned properties can still perform very well. For buyers, this is an environment worth taking advantage of. More selection means more opportunity to find the right property. For sellers, the message is equally clear: strategy matters. The market isn't necessarily telling us that prices are falling off a cliff. It's telling us that buyers have choices, and properties need to be priced and presented accordingly. More inventory. More choice. More negotiating power for buyers, and more importance placed on getting the strategy right for sellers. Stay tuned to the blog to keep on top of the ever changing market, and as always, thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 278 (262, 249, 270, 261) *265 Sold: 132 (126, 120, 143, 166) *125 Sale To Listing Ratio: 48% (48%, 48%, 53%, 64%) *47% Price Changes: 180 (164, 163, 143, 192) *133 Conditional Sale: 144 (149, 154, 149, 165) *157 Expired/Cancelled/Withdrawn: 63 (130, 56, 68, 72) *50 Total Active Halifax/Dartmouth Inventory: 2,303 (2,257, 2,272, 2,248, 2,249) *1,951 Absorption Rate: *18 (16, 15, 15, 14) *14 Single Family Home Stats Active Single Family Home: 1,246 (1,219, 1,226, 1,206, 1,210) *1,009 Average Single Family Home List Price: $640,640 ($662k, $652k, $636k, $665k) *$610k Average Single Family Home Selling Price: $633,643 ($642k, $646k, $622k, $654K) *$602k Single Family Home Sale to List Ratio This Week: 99% (97%, 99%, 98%, 98%) *99% Median Single Family Home List Price (6 mo):$599,900 ($600k, $599k, $600k, $600k) *599K Median Single Family Home Sold Price(6mo): $590,000 ($590k, $590k, $591k, $590k)*$591k Average Days on Market Single Family Home: 40 (39, 30, 36, 32) *42 Condo Stats Active Condos: 270 (266, 268, 270, 268) *227 Average Condo Listing Price: $437,452 ($435k, $495k, $484k, $392k) *$465k Average Condo Selling Price: $431,439 ($423k, $481k, $470k, $377k) *$460k Condo Sale to List Ratio This Week: 99% (97%, 97%, 97%, 96%) *99% Median Condo List Price (6 mo): $449,900 ($450k, $450k, $450k, $450k) *$450k Median Condo Sold Price (6 mo): $440,000 ($439k, $438k, $437k, $438k) *$440k Average Days on Market Condos 35 (50, 57, 33, 68) *51 Active Vacant Lots: 478 (467, 465, 448, 450) *443 Market Rant There’s a little bit of everything happening in the market right now, and this week gives us a good reminder that real estate is rarely moving in one perfectly predictable direction. Inventory continues to build, giving buyers more options and creating a more competitive environment for sellers. At the same time, sales activity remains healthy, and we're still seeing plenty of buyers making moves when they find the right property. In other words, buyers haven't disappeared, they're simply becoming more selective. For single-family homes, pricing remains relatively stable, and sellers are still achieving very strong sale-to-list ratios. However, homes are taking a little longer to sell than they were during some of the faster paced periods we've seen. That makes proper pricing and presentation increasingly important. The condo market is also holding fairly steady. Inventory is elevated compared with last year, but buyers are still active, and properly priced condos continue to attract attention. The broader condo market appears to be finding a fairly consistent pricing range, even with some week to week fluctuations. One thing that continues to stand out is the number of price adjustments happening across the market. With buyers having more choices, sellers can't simply rely on the market to push their property along. If a listing isn't generating the expected activity, the market is providing pretty clear feedback. Overall, we're in a market where buyers have choices and sellers have to compete. That's not necessarily a bad thing, it's just a different environment than the frenzier markets we've experienced in the past. The winds of change I think we're officially at the point where the old-school real estate advice needs to be put back on the shelf. "Just list it high and see what happens." "We can always reduce it later." "Someone will fall in love with it." Maybe... But when buyers have a growing number of properties to choose from, overpricing a home is no longer a harmless strategy. The first few weeks on the market are incredibly important, and buyers are comparing your property against everything else that's available. And here's the funny part: buyers aren't necessarily expecting a bargain... they're looking for value. There's a big difference. A well-priced home that shows beautifully can still generate strong interest, multiple offers and a quick sale. A home that's priced too aggressively can sit around while buyers wait to see what happens next. Meanwhile, sellers start thinking, "Maybe we should reduce it." Then the price gets reduced. Then buyers think, "Hmm... why has it been sitting?" And suddenly we're having a conversation about whether the property has become "stale". Don't try to beat the market. Read the market. Look at the competition. Look at what has actually sold. Look at what isn't selling. Look at how long properties are sitting. Then price accordingly. Because in a market with more inventory, being the best valued property in the neighbourhood is a much better strategy than simply being the most expensive one. The Bottom Line We're seeing a market with more selection, active buyers and increasingly important pricing decisions. It's not a bad market, it's a market that requires a little more thought and a lot less guessing. Buyers have options. Sellers have competition. And good strategy matters. Stay tuned to the blog to keep on top of the ever-changing market, and as always, thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 262 (249, 270, 261, 319) *218 Sold: 126 (120, 143, 166, 183) *138 Sale To Listing Ratio: 48% (48%, 53%, 64%, 57%) *63% Price Changes: 164 (163, 143, 192, 216) *121 Conditional Sale: 149 (154, 149, 165, 145) *159 Expired/Cancelled/Withdrawn: 130 (56, 68, 72, 68) *59 Total Active Halifax/Dartmouth Inventory: 2,257 (2,272, 2,248, 2,249, 2,261) *1,901 Absorption Rate: *16 (15, 15, 14, 14) *13 Single Family Home Stats Active Single Family Home: 1,219 (1,226, 1,206, 1,210, 1,205) *985 Average Single Family Home List Price: $661,756 ($652k, $636k, $665k, $638k) *$575kk Average Single Family Home Selling Price: $641,545 ($646k, $622k, $654K, $631k) *$552k Single Family Home Sale to List Ratio This Week: 97% (99%, 98%, 98%, 99%) *96% Median Single Family Home List Price (6 mo):$599,900 ($599k, $600k, $600k, $600k) *600K Median Single Family Home Sold Price(6mo): $590,000 ($590k, $591k, $590k, $590k)*$590k Average Days on Market Single Family Home: 39 (30, 36, 32, 34) *29 Condo Stats Active Condos: 266 (268, 270, 268, 269) *204 Average Condo Listing Price: $434,450 ($495k, $484k, $392k, $418k) *$466k Average Condo Selling Price: $422,950 ($481k, $470k, $377k, $411k) *$557k Condo Sale to List Ratio This Week: 97% (97%, 97%, 96%, 98%) *98% Median Condo List Price (6 mo): $449,900 ($450k, $450k, $450k, $450k) *$448k Median Condo Sold Price (6 mo): $438,950 ($438k, $437k, $438k, $438k) *$435k Average Days on Market Condos 50 (57, 33, 68, 41) *29 Active Vacant Lots: 467 (465, 448, 450, 451) *429 Market Rant For anyone watching the Halifax real estate market, this week felt like more of a continuation than a turning point. Activity remained steady, inventory stayed elevated, and the overall market continued to reward patience over urgency. Buyers still have plenty of choice, while sellers who price and present their homes well are continuing to find success. One noticeable shift was a slight tightening in available inventory after several weeks of steady growth. Although active listings remain well above last year's levels, the small decline suggests that new supply and buyer demand are beginning to find a better balance. With absorption remaining relatively stable, the market continues to favour informed decision making rather than rushed offers or bidding wars. The single-family home segment remained consistent, with average prices staying within the range we've seen over the past several weeks. Homes are still selling very close to their asking prices, a sign that well-priced properties continue to attract motivated buyers. Marketing times increased slightly, reinforcing that buyers are taking a little longer to evaluate their options before making an offer, which is a natural outcome in a market with more selection. The condominium market experienced another week where average prices fluctuated, but the underlying story remains one of stability. Median prices have changed very little over recent months, suggesting that week-to-week swings in averages are more reflective of the types of units selling than any broad change in condo values. Inventory has remained relatively consistent, providing buyers with a healthy selection while keeping the segment active. Overall, the market continues to behave in a predictable and sustainable way. Buyers are benefiting from increased choice, sellers are still achieving strong results when their homes are marketed effectively, and pricing has remained remarkably resilient despite the higher inventory levels. It may not be the frantic pace of recent years, but it's proving to be a much healthier market for everyone involved. The first week on the market still matters most:. There's a common misconception that if a home doesn't sell right away, you can simply reduce the price later and expect the same level of interest. Unfortunately, it rarely works that way. The first week a property hits the market is when it receives the most attention. Buyers who have been waiting for a home like yours will see it immediately, and new listings naturally rise to the top of search results. That's your biggest opportunity to create excitement. If a home is overpriced or poorly presented during that window, it can lose momentum quickly. Even after a price adjustment, buyers often wonder why it didn't sell initially, and the listing may not generate the same buzz it would have had on day one. That's why preparation is everything. Thoughtful pricing, professional marketing, great photography, and having the home ready before it goes live can make all the difference. You only get one first impression in real estate, it's worth making it count. Stay tuned to the blog to stay on top of the changing market, and thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE (Previous weeks numbers in brackets) *Previous Year's Stats Total Market New/Back to Market Listings: 249 (270, 261, 319, 242) *218 Sold: 120 (143, 166, 183, 124) *138 Sale To Listing Ratio: 48% (53%, 64%, 57%, 51%) *63% Price Changes: 163 (143, 192, 216, 155) *121 Conditional Sale: 154 (149, 165, 145, 173) *159 Expired/Cancelled/Withdrawn: 56 (68, 72, 68, 145) *59 Total Active Halifax/Dartmouth Inventory: 2,272 (2,248, 2,249, 2,261, 2,174) *1,901 Absorption Rate: *15 (15, 14, 14, 14) *13 Single Family Home Stats Active Single Family Home: 1,226 (1,206, 1,210, 1,205, 1,142) *985 Average Single Family Home List Price: $651,454 ($636k, $665k, $638k, $686k) *$575kk Average Single Family Home Selling Price: $645,476 ($622k, $654K, $631k, $666k) *$552k Single Family Home Sale to List Ratio This Week: 99% (98%, 98%, 99%, 97%) *96% Median Single Family Home List Price (6 mo):$599,000 ($600k, $600k, $600k, $600k) *600K Median Single Family Home Sold Price(6mo): $590,000 ($591k, $590k, $590k, $590k)*$590k Average Days on Market Single Family Home: 30 (36, 32, 34, 31) *29 Condo Stats Active Condos: 268 (270, 268, 269, 271) *204 Average Condo Listing Price: $494,900 ($484k, $392k, $418k, $376k) *$466k Average Condo Selling Price: $481,439 ($470k, $377k, $411k, $376%) *$557k Condo Sale to List Ratio This Week: 97% (97%, 96%, 98%, 100%) *98% Median Condo List Price (6 mo): $449,500 ($450k, $450k, $450k, $450k) *$448k Median Condo Sold Price (6 mo): $437.500 ($437k, $438k, $438k, $441k) *$435k Average Days on Market Condos 57 (33, 68, 41, 38) *29 Active Vacant Lots: 465 (448, 450, 451, 448) *429 Market Rant Our market here in Halifax continued its late summer rhythm this week, with a modest slowdown in both new listings and completed sales. While activity eased compared to recent weeks, the overall market remains healthy, and inventory continues to provide buyers with an abundance of choice. One trend that continues to stand out is the stability of the market despite the elevated inventory. Active listings reached another high point for the year, yet homes that are well-prepared and competitively priced are still attracting offers and selling close to their asking price. Rather than signalling a weak market, the additional inventory is creating a more balanced environment where buyers have time to make informed decisions and sellers have to be more strategic than they were a few years ago. The single-family home market remained resilient this week. Average prices moved higher again, while the median price remained virtually unchanged, reinforcing that overall home values have stayed remarkably steady over the past several months. Days on market also improved slightly, suggesting buyers are still moving decisively when the right property comes along. Condominiums experienced another week of shifting averages, but the broader trend remains consistent. Median prices continue to hold steady, indicating that fluctuations in average prices are largely being driven by the mix of units sold rather than a significant change in market value. With inventory remaining relatively stable, condos continue to offer an attractive entry point for first-time buyers, downsizers, and investors alike. Overall, this week's report paints the picture of a market that is finding its footing. Inventory is abundant, competition among sellers remains healthy, and buyers have opportunities that simply didn't exist a few years ago. At the same time, strong demand continues to support pricing, resulting in a market that feels increasingly balanced. Presentation has never mattered more! When inventory was extremely tight, almost every home received attention simply because there were so few options available. Today's market is different. Buyers are scrolling through hundreds of listings before they ever step foot inside a home. They compare photos, read descriptions, check room sizes, and often decide within seconds whether a property is worth viewing. That means presentation isn't just a nice bonus... it's part of your pricing strategy. Professional photography, decluttering, fresh paint, minor repairs, and thoughtful staging can dramatically change a buyer's first impression. Two similar homes can receive very different levels of interest simply because one tells a better story online. In today's market, buyers have choices. The homes that stand out are the ones that look cared for, feel inviting, and make it easy for buyers to picture themselves living there. Selling a home has never been just about putting it on the market. It's about making it impossible to scroll past. Stay tuned to the blog to stay on top of the changing market, and thanks for stopping by! The Weekly "Adogtable"This "cuddly companion" is available through Good Bones Dog Rescue, 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 Looking to help? Below you will find links to various shelters and rescues that could use your support. Donations of pet supplies, food, money, basically anything can help! Good Bones Dog Rescue Nova Scotia SPCA Bide Awhile Animal Shelter Halifax Veterinary Hospital If you have a suggestion to be added to the support list, do not hesitate to contact me! 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! VIEWPOINT REALTY
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. Latest Blog post HERE |
Jeremiah Wallace, CDJeremiah has been involved with many aspects of the Real Estate industry for over fifteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products.. ListingsPhoto's by Jeremiah
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