Issue 2.7 - July 2022

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Halifax Real Estate News Compliments of the Andrew Perkins Real Estate Team Issue 2.7 - July 2022   The middle of summer always seems to be a little slower in the Halifax real estate market historically. Last month, only 638 new listings were brought to market; in June, that number was 854. The number of sales in July was 750; in June, there were 777. Not much difference. The average selling price year to date is $569,734 for single-family homes, condos and duplexes. I wanted to look at the average monthly price for this year to see how we are trending.   January - 493,768 February - 492,655 March - 564,418 April - 592,873 May - 566,791 June - 565,503 July - 569,734 It does seem like we are seeing some stabilization in the prices, which is good in my opinion; we can't keep going up forever. As of right now, we currently have 822 properties for sale in the HRM. We are still solidly in a seller's market with less than two months of inventory. We are creeping up but nowhere near a balanced market. Properties are not getting as many competing offers as 3-4 months ago, but agents are pricing properties at market value now and not underpricing, trying to get multiple offers and drive up the price.  Where do I see the market going? I think Halifax has a very resilient market, unlike some of the bigger cities in Canada that are seeing price drops. Halifax is still undervalued compared to those cities. I think we will see a slight regression in price, but nothing too crazy.   If you are considering selling, the days of 10-20 offers on a property may be over; however, it is still a great time to sell as there is limited competition. If you are buying, you can be a little more patient and check out multiple properties without jumping on the first one. We are here to help you navigate this challenging market. As always, please feel free to reach out to us with any questions you may have. Andrew & Jordan Halifax News   Multimillion-dollar renovations coming to Halifax library The Keshen Goodman Public Library is a community hub in Clayton Park, and it will soon be getting a facelift. Continue Reading >>   Changes to loan program will help more Nova Scotians become homeowners, says minister The Nova Scotia government is expanding eligibility for its down payment assistance program for first-time homebuyers. Continue Reading>>   N.S. announces program to help non-profits purchase buildings for affordable housing Nova Scotia has a new lending scheme to protect existing affordable housing... Continue Reading>>   Once Facing Demolition, Historic Halifax Inn Will Survive As Part Of Apartment Tower Halifax Regional Council gave the go-ahead July 12 for the owner of the South End building known as “The Elmwood”... Continue Reading>>   Halifax’s Housing Market Is Finally Starting To Cool Home sales in the city, and across the province, are down and, while prices are still significantly higher than they were last year... Continue Reading>>   Bedford: A Beautiful and Booming Enclave of Halifax, Canada Halifax enjoys one of the most beautiful settings of any Canadian capital. Set on Nova Scotia’s dramatic southern coast, it boasts one of the world’s largest... Continue Reading>>   Halifax Real Estate Market June 2022   Inventory continues to climb in Halifax. Last month, we had 471 single-family homes, and 87 condos for sale. This month, these numbers have increased to 544 and 92. This is great news for buyers. More inventory means less bidding wars, less competition and more options when searching for a property.  Learn more Current Listings   View Listings Current Mortgage Rates Courtesy of Shawna Snair (Licence #2021-3000104) with Premiere Mortgage Centre   Follow Shawna for more great mortgage tips and info! (902) 448-2007   Recent Blog Articles     Read This Before Buying a Multi-Unit in Halifax NS Buying a multi-unit property as an investment in Halifax, Nova Scotia can be a great opportunity to earn additional income and grow your net worth. Continue Reading >> What you need to know: Solar Panels in Halifax, NS With all-time high inflation rates, mortgage interest rates rising and our climate changing, Halifax homebuyers are concerned about energy bills and usage now more than ever. 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.