Found 5 blog entries tagged as market update.

The Art of Negotiation

For the past two years, the value we’ve brought to our clients has been in the form of winning competing offers when buying a home, or leveraging multiple offers when selling. Now that the market has taken an abrupt turn, it is important that your Realtor changes their tactics to ensure your success when making a move. 

When selling, your Realtor now needs to do a lot more work to obtain feedback from buyer agents while encouraging them to submit an offer.  Obtaining an offer is half the battle, the other half is negotiating favourable terms.  It’s unlikely you’ll like everything about an offer when it is submitted, but it is always advisable to work with the buyer to reach an agreement where everyone is happy.

Buyers today…

486 Views, 0 Comments

The Inventory Chasm

The jump in the average price from December to January is nothing short of astonishing. Sales are down by almost 40% from last year, but that's not due to a lack of buyers. Rather, there is simply nothing to buy. Let me paint a picture for you. Currently, there are only ten condos for sale on the entire Halifax Peninsula. Two of those are listed below $400,000, the next cheapest is $1,014,500. That is a gap better described as a chasm. In January, the average price of a home in the Halifax Regional Municipality was $581,180. Sellers were on average obtaining 111% of their asking price. 

Next, let's talk about a certain Spryfield semi-detached. A nice home built in 2010, well-maintained and with a few recent upgrades. We listed…

1464 Views, 0 Comments


What the hell was that and can you please make it stop?

2021 was breathless from the outset. It seemed that overnight, people’s patience snapped and an overwhelming urgency took hold.  Competition exploded and the lid flew off offer prices like a cat flies off a cucumber. While the penny dropped quickly, it was a problem that had been building for months. For some shocking perspective, look at the number of homes for sale in the Halifax Regional Municipality over the past four years:

  •        December 2018 | 2,055
  •        December 2019 | 1,298
  •        December 2020 | 626
  •        December 2021 | 214

This represents an inventory decrease on a scale larger than a blue whale. That’s big. What’s more, the number of sales has…

2093 Views, 1 Comments

Happy Holidays!  It’s December and we are getting into the festive spirit down at HaliPad.  We’ve decorated our windows for the annual North by Night display and the Christmas tunes are filling the air.  We’re still working hard while we’re having fun, although sales have dropped by more than 31% from this time last year.  This is because inventory is down by almost 60%, now pushing the average price above $500,000 for the first time.

We’re also in our final month of #LiveLoveLocal where we get to feature the Fireworks Gallery – Halfax’s choice custom goldsmith, repair shop and source for beautiful designer jewellery.  We’ll be giving away $1000 to the Fireworks Gallery before Christmas, courtesy of HaliPad Real Estate Inc.


We wish you a safe and…

551 Views, 0 Comments