Issue 2.5 - May 2022

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Halifax Real Estate News Compliments of the Andrew Perkins Real Estate Team Issue 2.5 - May 2022   The month of May saw some changes in the Halifax Real Estate market. This was expected with the rising interest rates and inflation at all-time highs. Currently, there are 613 active listings for homes, condos, and duplexes in Halifax and surrounding areas. That is a significant increase from a few months ago when we had less than 200. The market will slow, and prices should stabilize. Don’t be surprised if prices decrease slightly in the short term. When this happens, we need to be cognizant that prices have increased substantially in the last two years, so a decrease should be no surprise. The average selling price for the month of May 2022 was $575,000. In 2021 the average price was $443,000. The average price was $351,000 in 2020. That is a 63% increase from 2020!.  As we move into the summer months, we will see many more new listings coming to market as sellers look to capitalize on the all-time high prices. We are seeing less bidding on houses now. In the Fall of the year, we may get back to a balanced market which will be welcome after the madness of the last two years. If you are thinking of buying or selling, we would love to help. Put our combined 20 years of real estate experience to work for you. Andrew & Jordan Halifax News   Nova Scotia government scraps non-resident property tax The Nova Scotia government will not move forward with its contentious non-resident property tax after all. Premier Tim Houston announced Thursday that his... Continue Reading >>   New Glasgow, N.S., to receive 36 new affordable housing units by July The Nova Scotia and federal governments are providing $5 million for a housing project in New Glasgow, N.S., that converted a motel into 36 affordable housing units. Continue Reading>>   Building under construction collapses in Bedford, N.S. Nobody was injured after a building under construction in Bedford, N.S., collapsed Sunday afternoon. The building, which will be the site of the future... Continue Reading>>   CHRISTOPHER ASHWOOD: A guide for Nova Scotia to cap runaway house prices Houston, we have a housing problem. Pricing for basic housing is hitting the stratosphere and we need solutions to bring affordability back down to earth... Continue Reading>>   Property owner applies to infill Halifax Harbour at Dartmouth Cove The federal government is seeking public feedback on a proposal to infill the Halifax Harbour at Dartmouth Cove, and the councillor and MP for the area aren’t impressed. Continue Reading>>   Federal Budget Good For Atlantic Canada On Housing And Immigration: APEC In its new report on the budget’s implications for the region, APEC highlights new investments focused on social priorities that are part of a budget that projects a rapidly declining... Continue Reading>>   Halifax Real Estate Market  April 2022   Inventory has started to climb this past month. At the beginning of March, there were 281 active listings in all of the Halifax area. This month, we have 354. This is still nowhere near where we were a couple of years ago, with the average being around 2000 active listings, but it is promising. Learn more Newest Listing   View Listing Our Recent Sales   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     Frequently Asked Questions: Sellers Edition Choosing to sell your home can be an exciting and overwhelming experience. If you do not have any previous experience, you may have a lot of questions. To learn about the selling process, you can visit our page detailing it here. Even with understanding the process, you may have more questions along the way: Continue Reading >> 22,600 New Housing Units to Hit Halifax It’s been no secret that the Halifax Real Estate Market has been extremely competitive over the past two years. Prices have risen by 26% (on average) since the beginning of the pandemic, and inventory reached an all-time low. The rest of Canada caught wind of our beautiful province, and... 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.