February 2020

Halifax - Local Market Update...
HRM Residential Sales January 2020 compared to 2019 Halifax Peninsula Residential Sales January 2020 compared to 2019 ... read more
Market Watch - 2020 Opens With a Slight Gain in Sales
We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip in the number of new and available listings. Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices. Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments. ... read more
Are You Ready for RRSP Season?
RRSP season is upon us! Time to go through the couch covers and scrounge up the last of our savings to make that all-important contribution. Let’s look at some fundamental concepts of RRSPs. ... read more
Design Ideas for Building a Garden Fence
A garden fence is probably the most important element of garden design. The more the fence looks attractive and welcoming the more you and your guests will feel comfortable. In some ways, a garden will appear incomplete without a fence. A garden fence not only adds to the overall beauty of the garden but also gives the entire landscape a more complete look. A fence can be erected around the front yard, backyard or around the entirety of the property. Adequate fencing adds to the security of your house and property as well. ... read more
Is an Open House Worth the Effort?
Open houses require a lot of preparation and are inconvenient to the home occupants and the selling agent. Many agents now refuse to hold open houses, considering them a waste of time and a security threat. And many sellers prefer to open their doors to serious buyers only. ... read more
Choosing The Right Neighbourhood
Whether buying or renting, you should be choosy about the neighbourhood you move into. And if you have a family, there are even more factors to consider. So before you move, research your options; get to know the area, spend some time on its streets, in its cafes and walk along its sidewalks. Just like any relationship, feel it out before you move just to make sure it's a good fit. ... read more
 

With Compliments of

Michele Vyge-Fraser
Real Estate Agent/ Associate Broker/ CNE®


Red Door Realty
1314 Martello Road
Chapter House
Halifax, Nova Scotia,
T: 902-830-6397
NovaScotiaRealEstate@gmail.com
www.RedDoorRealty.ca

Hello!

Winter is nearly over and the Real Estate Spring Market seems to have started early. Competing offers have been the norm in February on 'good listings' - the highest number of offers that I am aware so far is 11 offers! 

Here is the 'at a glance' MLS® February sales data for HRM as compared to February 2019. Sales were up over 25% and selling prices were up approximately 10% across HRM, based on median sales prices.

  • In HRM there were 443 residential MLS® solds with an average selling price of $324,213. (median selling price $299,900.) last month

  • Compared to 351 residential MLS® solds in February, 2019 with an average selling price of $299,220. (median selling price $269,500.)

Peninsula Halifax Only - Sales were up over 13% and selling prices were up approximately 7% based on the median sales price.

  • there were 53 residential MLS® solds last month at an average selling price of $435,665. (median selling price  $415,000.)

  • Compared to 46 residential MLS® solds, in February 2019, at an average selling price of $428,634. (median selling price $383,000.)

As always, thank you for your support and for your business!

Please contact me anytime to discuss your property's current market value, your possible buying or selling plans or to request a timely general market overview. 

Looking forward to hearing from you!

Best Regards, Michele   



NATIONAL MORTGAGE RATES
Term Posted
Rates*
Best
Rates*
6 Months 3.34% 3.30%
1 Year 3.59% 3.04%
2 Years 3.74% 2.89%
3 Years 3.89% 2.79%
4 Years 3.95% 2.95%
5 Years 5.34% 2.69%
7 Years 5.80% 2.99%
10 Years 6.10% 3.04%
Variable Rate 2.90%
Prime Rate ** 3.95%
*last updated: Feb 18,2020


www.RedDoorRealty.ca

Halifax Mortgage Specialist Bruce Lusby 

(902) 210-0515

http://mortgageweb.ca/BruceLusby

Halifax, Nova Scotia - updated Oct 6, 2015

Variable:

5yr @ Prime - .65% (2.05%)

HELOC @ Prime +.25% (2.95%)

Fixed:
1yr 2.29%
2yr 2.09%
3yr 2.24%
4yr 2.54%
5yr 2.54%
6yr 3.39%
7yr 3.44%
10yr 3.84%

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