Real Estate Outlook for Spring 2024 – Buckle Up

Our office had the senior economic analyst from the Canadian Real Estate Association speak to us this week, and his message was clear: "Buckle up." In a captivating and somewhat terrifying 45-minute presentation on the Canadian real estate market, he predicted a surge in activity as people, previously held back by high interest rates, get ready to jump on opportunities when Spring listings hit the market. While we haven’t seen the expected influx of listings yet, things are delicately poised, with homeowners gearing up for the busiest time of the year.

HRM Snapshot: Over the past 24 months, Spring has consistently seen home sale prices that were 10-15% higher than in Winter.

Where are prices going?

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2023 Real Estate Market - Was it bad, or was it just bad for Realtors?

Written by Chris Perkins, Broker/Owner - Coldwell Banker Maritime Realty.

I’m sure when you spoke to your real estate friends this year, most of them complained about how slow the market was. However, while it posed problems for us in the industry, it was a better market (in the Halifax area at least) than you might expect. 

To explain what I mean, we need to look at the years gone by:

Admittedly, sales were the lowest they’ve been since at least 2010 which is as far as I can go back in time. Sales volume like this would generally be catastrophic for prices were it not for the dramatic drop in inventory (you'll note the sale to new listing ratio is higher in 2023 than…

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