Issue 1.7 - July 2021

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Halifax Real Estate News Compliments of Andrew Perkins Issue 1.7 - July 2021   This July, we saw a slight slow down in the market, which is typical for the Halifax Real Estate market this time of year. Inventory has been increasing month over month. As I write this, we currently have 622 active listings for condos, single-family homes, and duplexes. That's up slightly from last month but is still very low historically. The average price is up ⬆️ 30% year over year and now sits at $441,226(that is crazy).  The list-to-sale price ratio is starting to close as well. Each time we calculate statistics for our market, the gap between the average list price and the average sold price becomes smaller and smaller. A few months ago, it wasn't uncommon to see an average sold price of nearly one hundred thousand over the list price. Recently, we have seen this decrease to about 20-40K.  Will this trend continue?  It is undoubtedly a question that buyers and sellers have on their minds these days.   I had a great trip to Newfoundland to see my family and friends.  It's been almost two years since I have seen my brother and my mom.  Great to be able to see them again!  I played golf at an epic golf course in Western Newfoundland, Humber Valley Resort.  It was top-notch, and I highly recommend it to anyone traveling that way.  I also got to play Cabot Links and Cabot Cliffs with some great friends this month.  What a fantastic experience it was! We are so lucky to have these courses in our backyard.  This upcoming month will be another busy one travel-wise for me.  I have a couple of golf trips booked to PEI and Fox Harbour.  I will be heading to Lunenburg at the beginning of August to check out a couple of live music shows(so happy to do that again) and relax and take in that beautiful area of Nova Scotia (One of my favorite places to be!).   I hope you all are enjoying your summer, and check back next month for another edition of our Newsletter.  Cheers, Andrew   Halifax News   Canadian cities to see a wave of real estate market normalization this summer and fall After a record-breaking year for premium real estate, defined by high demand and low inventory, Engel & Völkers is observing a wave of market normalization, forecasting it will continue into... Continue Reading >>   Update to Canada's Mortgage Qualifying Rules Explained Earlier this summer, new changes were announced for the federal mortgage stress test, shifting the ground again in terms of how much house new and seasoned home buyers are qualified to purchase... Continue Reading >>   Coast to Coast: Data Shows Canadians Moved to Halifax and Vancouver During Pandemic The pandemic has inspired Canadian professionals to relocate to the country’s picture-perfect coasts. According to LinkedIn’s inaugural Workforce Report for Canada... Continue Reading>>   The Ins and Outs of Outdoor Furniture As the mercury climbs, taking advantage of sunny days becomes paramount. Patios, backyards, and balconies become natural extensions of our living rooms in the summer months. It’s a far cry from the 1970s and 1980s when a couple of foldable lawn chairs were... Continue Reading>>   New federal funding will create 43 affordable homes in Halifax The federal government will spend $13 million to create 43 affordable homes in Halifax. The money, part of the Rapid Housing Initiative, is aimed at supporting people who have insecure housing... Continue Reading>>   Halifax’s Muir Hotel is more than just something new on the harbour When is a hotel more than just a place to sleep? Touring the site of Halifax’s Muir, which opens in late fall, a few answers are as clear as the view of the iconic Angus L. Macdonald suspension bridge: When it occupies part of... Continue Reading>>   Recent Market Stats   The inventory continues to remain at an all-time low! Similar to last month, we have under 500 listings available. With over 700... Learn more Current Mortgage Rates Courtesy of Shawna Snair with Premiere Mortgage Centre   Follow Shawna for more great mortgage tips and info!   Interior Design Courtesy of Danielle Klassen with A&E Home Staging and Redesign   Follow Danielle for Inspiring Home Decor!   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! Recent Blog Articles   10 South End Cafés You Need To Visit! The South End is one of the best spots in all of Halifax to grab a coffee. With its abundance of culture, vibrant downtown, students and... Continue Reading >> Frequently Asked Questions: Buyers Edition (Part 1)   Buying a home is one of the biggest purchases a person does in their lifetime. Because it is such a large purchase, there are a lot of... Continue Reading >> Our Recent Sales   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.