Navigating the Nova Scotia Downpayment Assistance ProgramHave you ever felt like buying a home was as daunting as climbing Mount Everest? You're not alone. The monetary challenges may seem to be too
The Halifax Real Estate Market Post-COVID
Dated: February 18 2023
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The COVID-19 pandemic has significantly impacted the global economy and real estate markets around the world. Halifax is no exception, and the real estate market in the area has undergone several changes in the past few years.
As per recent statistics, the real estate market in Halifax is still a seller's market, but the market is gradually stabilizing after the pandemic. There were 71 sales recorded between November 22nd and 28th, out of which 28 were sold above the list price. This represents 39% of the total sales for the period. The average list-to-sale price ratio remains at 100%, which is great news for sellers.
However, buyers are facing increased competition in the market, as there are fewer than 1,000 units available for sale. Despite some speculation about a recession, the market is still in favor of sellers, and Halifax is expected to experience continued appreciation across the board. This trend is expected to continue well into 2023.
It is worth noting that the landscape of the market is significantly influenced by interest rates. While there is still some uncertainty about what the Bank of Canada will do in the future, springtime is expected to give us a better indication of what to expect. In the meantime, if you have any questions or need any help with real estate in Halifax, feel free to reach out to me.
Chris Crowell
- Bachelor of Commerce, Major in Marketing - Saint Mary's University 2007-2011 - Over ten years sales experience - Former district manager for Unilever Canada Atlantic territory (9yrs) - Using my prio....
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