Found 13 blog entries tagged as halifax.

Did several weeks of lockdown change the way people think about high-rise living? It would not be surprising that a modern and minimalist space that once fostered feelings of freedom to do whatever you want quickly turned into the opposite - four walls closing in with COVID claustrophobia, causing you and your cat to figuratively and literally climb the walls.

Suddenly, the desire to live inside to avoid outdoor chores has been replaced with the desire to have outdoor space to complete those very same chores, but willingly. Time outside to have the privilege to achieve the same tasks that seemed taxing before. It's amazing how a slice of perspective can so drastically change your views on things you thought you'd figured out.

Condo sales in…

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Before we talk about how challenging this market is for home Buyers, let's talk about what is causing this unprecedented demand.  The number of sales year over year are only up by 8% and that alone would not cause a substantial price jump.  However, prices have risen by 12% in the last twelve months and it is almost entirely down to a lack of supply. The number of listings available in September 2020 is down by a whopping 51% from 2019. It is down an even more alarming 64% from 2018.  There are simply not enough homes for sale to satisfy demand and this is causing an extremely competitive environment for home Buyers in and around Halifax.

The Landscape

Almost all homes that hit the market in Halifax are being put on a "program" by Real Estate…

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This is our third installment of the Halifax real estate market amid the Covid-19 crisis. This is likely our new normal and will reflect what we can expect over the coming weeks and months.  Listing activity has slowed once more while sales actually picked up slightly over the last week. The number of cancelled listings has edged up, especially in comparison to the same week last year.  Once more of these offers turn into firm sales, we'll be able to get a better idea as to how values are being affected.  

 

Do you have questions about the market?  Drop us a line below!

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For those of you who don’t know me, my name is Chris Perkins and I’m the Broker/Owner of HaliPad Real Estate Inc.  I’ve been selling real estate since 2007 and moved to Halifax with my wife, Joelle in 2018.  We founded HaliPad Real Estate Inc that same year and opened an office on Gottingen Street, we’d love to have you stop by when things return to normal.

Now, before they return to normal, what does that mean for the local real estate market and how we do business. From a market perspective, things are more active than I was expecting.  We’ve written a couple of blog posts looking at new offers written and new listings in the past three weeks.  From March 16-22nd there were 133 offers written in comparison to 117 the year before.  From March…

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Best practices from Dr. Robert Strang when buying or selling a home amid the COVID crisis

The Real Estate Commission reached out to the Office of the Chief Medical Officer of Health, Dr. Robert Strang, asking what advice they would convey to the real estate industry during the COVID-19 pandemic. It was recommended that we comply with the following information:
  • Social distancing, travelling in separate vehicles and not showing houses of those in self-isolation.
  • Frequent hand hygiene. Real estate licensees and buyers will be going into homes where the risk may be unknown. It is extremely important for these individuals to touch as little as possible during the viewings and practice hand hygiene before entering and after leaving the premise.

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Housing is Essential

Although Halifax real estate activity has dropped significantly week over week, I'll admit I'm surprised by the amount of activity that remains.  Real estate services were listed as essential in Ontario when all non-essential businesses were ordered to close.  People need a place to live regardless of external factors that influence the market.  

Offers Written 

The number of offers written are down by 29% from this week two years ago and 36% from this week last year.  However, the total number of offers written in March 2020 current sits at 512 in comparison to 422 last year.  The next week should give us a good indication as to how we can expect market to trend until things return to normal. 

Cancelled Listings

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Real estate sales are a lagging economic indicator.  It takes weeks or months for sales to feel the effects of shifts in other areas of the economy.  That said, it is currently impossible to predict how the current environment surrounding the COVID-19 crisis is going to change our local housing market.  However, we can comment on what as happened so far and we will continue to update statistics over the coming weeks to keep everyone informed as to what is going on.  

As you’ll note in the charts below, it’s too early for the real estate market to react to what has happened in the past week. It is also subject to significant change as the Government’s response to this crisis evolves on a daily basis.

Number of New Listings

New listings in…

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What is Center Plan?

Center plan has been in development for several years.  It is focused on simplifying zoning bylaws and the development application process in the urban core of Halifax and Dartmouth. The goal is to add density to address our increasingly competitve housing market.  To date, this has been achieved by creating density corridors that allow taller buildings to be constructed along the busiest transit routes like Gottingen Street, Robie Street and Quinpool Road. 

Introducing Package B – Draft Stage.

Some changes are significant but perhaps the most impactful is R1 zoning will no longer exist.  R1 zoning states that you are only allowed one unit per household, meaning you are not allowed to have a legal secondary suite.  In…

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2019 was a busy year. Nova Scotia is seeing a boost in population from migration and immigration not seen since the 1970's.  Of the 35000 people who moved here in the last four years, between 95-98% of them settled in the Halifax area.  Because of this, our local real estate market has seen significant gains in every measure.  We have a 14 year record low number of listings and the average price this year has improved by a whopping 7% as of December 16/19.  

As the market tightens up, it's not only price that is affected.   The time it takes to sell a home is down by a third from four years ago and the number of sales is up by over 1000 at time of writing.  CMHC predicts our growth will slow moving in to 2020 as economic conditions are set to improve…

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After a lot of thought, you’ve decided your home is too big.  You haven’t seen the cat in days and the living room hasn’t been lived in for years.  The kids have moved out or you quite simply hate the idea of cleaning three bathrooms.  The reasons for downsizing are numerous, but the tactics to accomplish the goal of downsizing are very similar.  We simplify the downsizing process so you can focus on the things that matter most.

On November 26/19 join HaliPad Real Estate Inc. and renowned Organize Anything expert, Colette Robicheau to learn how to effectively right size your life.

Why you might want to downsize:

  •         Less upkeep and responsibility
  •         Financial freedom
  •         More flexibility
  •         Your…

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