Issue 2.9 - September 2022

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Halifax Real Estate News Compliments of the Andrew Perkins Real Estate Team Issue 2.9 - September 2022   Wow, did September ever fly by.    I hope everyone made out ok with Hurricane Fiona. It was a bad one. If you or anyone you know needs any assistance please do not hesitate to reach out to us. We have relationships with many contractors and tradespeople that can assist in repairs and debris removal.    The Halifax Real Estate market is showing signs of weakening prices. The average price for September was $496,000. That’s down from the peak in April of just over $600,000.  Active listings remained stable at 860. The number of sales in September was 494, which is down by 231 sales compared to August of this year, and down by 239 compared to September last year.  We are still, however, firmly entrenched in a seller's market.  We are starting to see more multiple offer situations on certain properties again, especially anything priced in the 200-400k range.  With another planned interest rate hike in October, buyers may tapper back their buying, and sales may drop further.  This will potentially cause prices to continue to fall.   We have to keep in mind, Halifax had a 60% increase in prices in the last 2 years.  So a 10-15% decrease is not all that bad, and still keeps Halifax's value on an increasing trajectory when we look at the past decade. We truly believe Halifax is just starting to be noticed as the great city that it is by the rest of North America. If you are thinking of selling and would like to see what your home's value is in today's market please reach out for a complimentary market report.  If you are a buyer looking to start your real estate journey, be sure to hire an experienced REALTOR® (like us!) who understands the nuances of our market.  Stay safe and happy fall! Andrew & Jordan Schedule a Call Halifax News   Halifax modular units now home to 38 people in need of housing People are now living in the Halifax modular trailer units that were purpose-built for those experiencing homelessness. Over the past few months, residents have been gradually moving... Continue Reading >>   These were the 10 most-viewed homes in Canada last month (PHOTOS) From a palatial Vancouver estate to a modest Halifax home, Canadians eyed a variety of properties last month as the real estate market shifted. Continue Reading>>   N.S. home prices expected to fall, but affordability will remain ‘difficult’: economist Canadian average home prices are expected to drop by up to 25 per cent by early next year, but the decline will likely be less pronounced in... Continue Reading>>   In Halifax, $7 million still buys quite a house To put it in perspective, the most expensive homes on the market in British Columbia, Ontario and Quebec each have an asking price more than the most expensive listings in... Continue Reading>>   Luxury Real Estate Has Officially Landed in Atlantic Canada Canadian luxury real estate saw big moves this week, as Sotheby’s International Realty Canada announced the launch of operations in Nova Scotia... Continue Reading>>   Proposal would protect downtown Halifax heritage buildings Halifax’s unprecedented building boom has taken some heritage casualties over the years. Many buildings not registered as municipal... Continue Reading>>   Halifax Real Estate Market August 2022   With a total of 752 active listings, and 710 sales last month, we still very much are in a seller’s market.  The summer slowed down the multiple bidding wars and largely over-asking sale prices we have seen the past year, however even in the past week, we have noticed this beginning again. Learn more Introducing HoodQ to HalifaxCondos.co   Last month we brought WalkScore to HalifaxCondos.co, This month we bring you: HoodQ! HoodQ is a brand new widget found on all MLS listings on our website, as well as all of our Condo Building Information Pages that generates a FREE Neighbourhood Report for any Halifax Condo Listing or Building! "Our widget provides a neighbourhood snapshot for Schools, Parks and Transit for all your listings automatically, at no charge." - HoodQ.com See it in Action by Clicking the Link Below! View our New Feature HoodQ! 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     Reverse Mortgage: What You Need to Know It has been our (and most people's) longstanding understanding that after age 75, you cannot get a mortgage. As part of our due diligence, we reached out to our trusted mortgage broker Neil Keeping with The Mortgage Group to confirm what we thought we already knew... Continue Reading >> Fall Homeowner's Checklist As most homeowners know, maintaining your property requires effort all year long. Checking in on certain aspects of your home at different points in the year is crucial to maintaining its value. In areas like Halifax that experience drastic temperature changes and varying weather, it is even more necessary to check in on your home each...   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.