HALIFAX REAL ESTATE WWW.THEPIKEGROUP.CA
December 2023
Top News 10% Property Taxes Deed Transfer Tax
November 2023: The Halifax Real Estate Market
Real Talk Latest Episode Deed Transfer Taxes
A 'Seller's Market' with a Buyer's Mentality For those closely following Halifax's real estate trends, it's evident that we find ourselves in what could be described as a 'seller's market' with a unique twist—a buyer's market mentality. What does that mean? Well, buyers in Halifax aren't rushing into purchases; they're patiently waiting for their dream homes, much like Cinderella waiting for her perfect fit. However, our market is no fairytale, as several factors come into play.
The Current State of Halifax Real Estate
Halifax Market Stats November 2023
Nov 2023
YTD
Halifax Market Stats as of November 2023
$600,000
The Halifax Real Estate Market cont’d...
$500,000
Several challenges are looming on the
$400,000
horizon for Halifax's real estate market. First and foremost is the proposed tax hike, which can influence both buyers and
$300,000
sellers. Additionally, we are witnessing the highest mortgage rates in over a decade, making it a more challenging time for
$200,000
potential homebuyers. These factors, combined with the buyer's discerning mindset, create a complex landscape.
$100,000
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Selling Price
Over & Under Asking Is it a thing?
At Ask
Over Ask
Below Ask
At Ask 3.4%
Over Ask 32.9%
Below Ask 63.8%
100k over asking in this Market? When it comes to Properties & Selling Over Asking: Is it a Thing? In the ever-evolving world of real estate, there's a buzz around properties selling over asking price. Is it just a trend, a fluke, or a new normal? The Over Asking Price Hype So, you've probably heard whispers about properties selling for more than their initial listing price. Is it true? You bet it is! But before you start thinking every house is a goldmine, let's break it down.
Read More
Ave. Listing and Selling Price YTD 2023 Listed
$700,000
SOLD
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
Aver Listing Price for Nov
$562,120
Aver Selling Price for Nov
$548,793
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Nov 2023
YTD
Where is the best place to sell in HRM?
300 250
In the ever-evolving world of real estate, pinpointing the hottest market in Halifax Regional Municipality (HRM) is akin to chasing the tail of a comet. With its diverse neighborhoods and varying price points, HRM offers something for everyone. However, as a seasoned real estate specialist with The Pike Group, I can confidently say that the trends are clear – downsizers and first-time buyers are making waves, and certain areas are shining brightly in the HRM real estate constellation.
200 150 100 50
W o o d si d e
B e d fo rd
S a c kv ill e
0 H a n B ts e e C c o h u vi n ty lle to Ta n ta llo n
Where are people buying November 2023
350
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What Price Sold in Nov $300-$399
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$400-$499 $500-$599 $600-$699 $700-$799 $800-$899 $900-$999 +1 Million 0
20
40
60
80
YTD Home Selling Prices $300-$399
$400-$499
$500-$599
$600-$699
$700-$799
$800-899
$900-$999
Million + 0
200
400
Homes sold below $660k
600
800
2120
1,000
New Construction Sales YTD 60 50 40 30 20
Monthly Home
10
Evaluation
FH In te rg ri ty N ex us
M
ar ch Ro and of ti gh Cr t e Pr sco ov id en t Ra m ar Am St on ara Sh ew au ate gh r ne ss y
0
YTD Sold New Construction
306
Aver Selling Price
$668,491
Aver Sq Ft
$315.97
Should the 5% deed transfer tax be elimated? Does it impact local sellers? Read More
Monthly Home Evaluation
Real Agents Real Talk Video This month on Real Talk we review Mortgage Stats - Deed Transfers and the impending 9% Property Tax Increase.
Ready to stay informed about your home's value and local market trends? Reach out via email today for your monthly personalized evaluation. Don't miss out on this valuable insight – contact us now!
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