Issue 2.6 - June 2022

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Halifax Real Estate News Compliments of the Andrew Perkins Real Estate Team Issue 2.6 - June 2022   Happy Summer. Halifax is going to be the place to be this summer. Lot’s of great events; check out our recent blog article for more information.   With the first half of the year over, I figure it’s a good time to make some comparisons over the last three years. In 2020 from January 1 to June 30, we had 2218 sales, the average price was $337,290, and the average number of days on the market was 37. In 2021 number of sales was 3262, the average price was $433,720, and the average number of days on the market was 37. This year the number of sales was 2780, the average price was $555,820, and the average days on the market was 19. Since 2020, that is a staggering 67% increase in the average price. Personally, I don’t think this is sustainable.   In the last several months, we have seen many new listings coming to market. We currently have 726 single-family homes, duplexes and condos for sale. If you follow our newsletter, you would know this number was under 200 back in March. This is a good sign for buyers. I expect we will see a slow down in the market in the coming months. With inflation at all-time highs and the rising interest rates, it is bound to happen. With the crazy market of the last two years it may be a good time for an updated market analysis on your home. Feel free to reach out to us, and we will prepare one for you. Buyers, be patient; more inventory is coming to market and giving you more options than you had 3-4 months ago.  We wish everyone a great summer.  Andrew & Jordan Halifax News   Nova Scotia announces 37 sites of provincial land for potential housing Nova Scotia has announced more than 30 additional sites on provincial land that could be used to build housing... Continue Reading >>   Proreit announces major joint venture agreement with Crestpoint Real Estate for 42 Properties in Atlantic Canada. Crestpoint Real Estate Investments Ltd. to jointly own an industrial-focused portfolio of 42 properties, including 41 properties in Halifax, Nova Scotia, and one property in Moncton, New Brunswick. Continue Reading>>   Nova Scotia expands down payment assistance program for 1st-time homebuyers The Nova Scotia government is expanding eligibility for its down payment assistance... Continue Reading>>   Halifax not close to meeting demand for industrial space Demand for industrial space in the Halifax area remains “ravenous,” says a report from Colliers Nova Scotia.  The commercial real estate firm said it had “boots on the ground” this quarter, surveying more than 13 million square feet of space in 232... Continue Reading>>   Halifax construction boom lifted by 'unprecedented' number of tower cranes Look up almost anywhere around downtown Halifax and you will probably see one of the many... Continue Reading>>   Nova Scotia's public housing is poorly monitored, units are underutilized: AG report Nova Scotia’s auditor general has discovered cracks in the province’s public housing foundation. There are 6,000 families on the wait list for one of Nova Scotia’s 11,200 public housing units, but a new report... Continue Reading>>   Halifax Real Estate Market May 2022   We have noticed in our day-to-day business that the market is starting to shift, and the numbers support this. The number of active listings has almost doubled since our last market report! This past month has had the most months of inventory in both the single-family home and condo markets since before the pandemic began. This is excellent news for Halifax buyers. 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     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? Continue Reading >> 10 Halifax Summer Events You Do Not Want to Miss   Whenever I work with a client looking to buy a Halifax condo, I always like to ask what brings them to Halifax. The most popular responses I receive are the ocean, their job, their schooling, being closer to family and the balance our city has between slow pace living and fun activities.   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.