Halifax Real Estate News - November 2022

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Halifax Real Estate News Compliments of the Andrew Perkins Real Estate Team Issue 2.11 - November 2022   Where did November go? This month went by fast, and here we are with only one month left in 2022.      November in the Halifax real estate market tends to slow down as we approach the holidays. This year was no exception. There were only 395 new listings brought to market, compared to October, which had 455 new listings. 397 properties sold in November, with an average price of $505,604. In November 2021, there were 589 properties sold with an average price of $474,722. Current inventory remains low at only 724 single-family homes, condos and duplexes for sale. I don't see the market getting close to a balanced market anytime soon.   The rising interest rates have stalled buyers' activity, and sellers looking to move up to a bigger home are putting that purchase on hold to see how things go in the coming months. Hopefully, the feds will stop raising rates and we can see some stability in our market.   As we enter the holiday season,  we want to wish every one of you a great holiday season.  Please tune in next year when we will be making changes to the newsletter to better inform our readers about the Halifax Real Estate Market news and happenings.   Kind Regards, Andrew and Jordan   Free Home Evaluation! Halifax News   Nova Scotia adopts new definition of 'first-time homebuyer' to expand loan program Nova Scotia has expanded eligibility for its home down payment program by adopting the definition of "first-time homebuyer" used by the Canada Mortgage and Housing Corporation (CMHC). Continue Reading >>   Real Estate Sales Volume Down 30 Percent In Halifax Last week, Dwyer tweeted that he saw a Bedford house (not his own listing) drop $100,000 in asking price over eleven days–from roughly $650,000 down to about $550,000. Continue Reading>>   New $250M federal grant program will help offset costs of switching from oil to heat pumps The federal government has announced details of a new grant aimed at helping low- to median-income Canadian households make the switch from oil to heat pumps. The Oil to Heat Pump Affordability (OHPA)... Continue Reading>>   Property Tax Bill Update The Halifax Regional Municipality has made changes to the property tax bill format and is providing additional ways to communicate about your account. For all other information about your... Continue Reading>>   Opposition calls on N.S. government to build more affordable housing Nova Scotia's opposition party leaders say Premier Tim Houston has an oversimplified view on solving the province's housing crisis, and that his government needs to be doing more for the province's most vulnerable residents. Continue Reading>>   Affordable Housing Association of Nova Scotia converting Dartmouth hotel to supportive housing for 65 people The Affordable Housing Association of Nova Scotia is... Continue Reading>>   Halifax Real Estate Market October 2022   The number of sales has decreased substantially in comparison to this time last year. This is to be expected. The real estate market in 2021 was an anomaly that we all knew was not sustainable. Learn 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     Gift Your Home These 10 Products for the Holidays! Gifts for Mom, Dad, the kids, and the dog: when the holidays come around each year, we have a chance to show our loved ones how much they mean to us through gift-giving. But what about our homes? The spaces where we gather each holiday season, visit family and friends, make memories and share laughs deserve some holiday love too! Continue Reading >> How to Combat Buyer's Remorse So you did your research, you looked at homes, you investigated neighbourhoods and school districts, you made an offer, and—voila!—you’re a homeowner! This should be one of the happiest days of your life…so why do you feel like driving off a cliff ala Thelma and Louise? Did we pay too much?  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.