Halifax Real Estate News - 2022 Review

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Halifax Real Estate News Compliments of the Andrew Perkins Real Estate Team Issue 2.12 - 2022 Review   Happy New Year! 2022 was indeed an interesting year in the Halifax Real Estate Market. While many buyers sat on the sidelines watching interest rates rise and hoping prices would drop, both rates and prices continued to climb. The inventory over the year never crossed more than 850 listings for sale, which is extremely low. We only have 548 homes, condos and duplexes for sale in Halifax and surrounding areas, currently. With extremely low inventory, and not looking like that will change anytime soon, we expect prices to remain stable if not go up again in 2023. Below is a graph that should give you a better idea of the Halifax Market and its direction in 2023.   It’s clear that when inventory remains low, prices rise. Even with fewer sales in 2022, prices did not plummet. It will be interesting to see if 2023 follows a similar trend to the past three years: low inventory, fewer (and faster) sales, and increasing prices. Contact us if you want a market analysis of your property. We can prepare one quickly, which is at no cost or obligation to you. If you consider buying in 2023, we would love to assist you on your journey. It is more important than ever to have an experienced team of REALTORS® on your side.  Wishing you all the best in 2023! Free Home Evaluation! Halifax News   Ensuring housing market remains available to Canadians The Prohibition on the Purchase of Residential Property by Non-Canadians Act prevents non-Canadians from buying residential property in Canada for 2 years starting on January 1, 2023. Continue Reading >>   Home listings worth more than $1M triple in Nova Scotia since 2017 The number of homes listed for more than $1 million in Nova Scotia has tripled in the last five years as the provincial real estate market heated up. Some of that increase is due to... Continue Reading>>   Halifax gets first look at proposed regulations for Airbnbs Halifax councillors are applauding municipal changes to better regulate short-term rentals like Airbnbs, but some are calling for more details before moving forward. On Tuesday, staff presented... Continue Reading>>   Nova Scotia REALTORS® oppose new federal law on non-resident homebuying Nova Scotia REALTORS® say a new federal law that bans non-Canadian citizens from buying a home will only slow down an already-slow housing market... Continue Reading>>   Nova Scotia beefs up Heating Assistance Rebate Program (update) HALIFAX — Nova Scotia’s premier announced a new $115.4-million funding package Wednesday aimed at helping low- and middle-income earners with inflation. The bulk of the one-time... Continue Reading>>   StatCan data reveals 2,100 Canadians moved to Nova Scotia to work from home Nova Scotia’s net gain of 2,100 Canadians who moved here to work from home is a good thing, says Halifax Partnership chief economist Ian Munro... Continue Reading>>   Thank You 2022 Clients!   Above is a short video showcasing all of the properties we were able to help families buy and sell this past year. Without our amazing clients, we would not be able to succeed in the business that we love. We thank you all for working with us this past year, and we are eager to see what 2023 brings!   Halifax Real Estate Market November 2022   There are only 682 active listings in all of Halifax. With a population of 500,000, this is sure to put pressure on the market...   Tell Me More! Current Listings   Recently Sold by the Andrew Perkins Real Estate Team   Current Mortgage Rates Courtesy of Neil Keeping with The Mortgage Group   Call Neil Today to Talk All Things Mortgage! 902-402-3505   Recent Blog Articles     Let's Talk Property Deeds It used to be that all you had to do to sell your house was give the buyer a handful of dirt from the property and say a few legal words in front of witnesses to symbolize the transfer. How times have changed! Nowadays, there is an entire selling process, lawyers and fees needed to complete a real estate transaction. Continue Reading >> Condos versus Co-ops, What's the Difference? When it comes to purchasing property, there are many different routes you can take. With the increasing prices in the Halifax Real Estate Market, and the competitive nature of single-family home purchasing, buyers are considering condos and co-ops now more than ever before... Continue Reading >> Thinking of moving to Halifax?   One of the hardest parts about moving to a city that you are unfamiliar with is picking which part of the city you will call home. It can feel overwhelming browsing through so many unfamiliar neighbourhoods, schools, clinics and shops. You almost wish that there was a guide to each city, breaking down its most appealing attributes, exploring its unique characteristics, and narrowing down the choices for you. We are positive that you are not the only one looking for guidance. This is why we developed this FREE and comprehensive e-book detailing everything you need to know about relocating to Halifax, Nova Scotia.   I want my FREE e-book! What's my Halifax Home Worth?   The inventory in Halifax is extremely limited. Prices are on the rise for both homes and condos. Your property may be worth more than you think! Interested in a FREE and INSTANT market analysis of your property?   Take me to my FREE market anaylsis! Halifax Homes for Sale   Are you a buyer who wants to find their dream home or condo in Halifax? Browse the most up to date listings!    Search Halifax Homes for Sale Our mailing address is: 308-6080 Young Street Halifax, NS  B3K 5L2 Want to change how you receive these emails? If you wish to unsubscribe, simply reply "Unsubscribe" to this email.