January 2020

Canadian Real Estate Market 2020 forecasts steady growth with national average price climbing 6.2 per cent to $531,000
Both CREA and CMHC are forecasting sales and price growth to continue steadily throughout 2020. The national association has called for a total of 530,000 transactions this year, an annual increase of 8.9 per cent, with the national average price climbing ...
Explore Halifax Real Estate
Halifax is the East Coast's economic hub. Beautifully situated on the Atlantic Ocean and surrounded by lakes, this city is rich in history and culture, upbeat and friendly, and walkable with plenty of activities for everyone! ...
Floating houses in HRM?
“Possibly, there could be between eight and 10, maybe 12 floating houses there,” Helen Nicholson told The Chronicle Herald recently about a sliver of land, smaller than a hectare in size, that runs between Porters Lake and Otter Lake, connecting Greenough ...
Tips for Winter Real Estate Listings
... while winter can seem like a challenging time to list your home, you could actually end up being at an advantage ...
Market watch - Strong Recovery in Sales Activity in 2019
We certainly saw a recovery in sales activity in 2019 in many areas around the country, particularly in the second half of the year. As anticipated, many home buyers who were initially on the sidelines moved back into the market place starting in the spring. Buyer confidence was buoyed by a strong regional economy and declining contract mortgage rates over the course of the year. ... read more
Canadian Housing Market Outlook for 2020
The Canadian housing market is expected to stabilize in 2019, particularly in Vancouver and Toronto, as we move into 2020. Healthy price increases are expected this year, with estimating a 3.7 per-cent increase in the average residential sale price. ... read more
Renting vs. Owning a Home: What's the Difference?
Buying a house can be the most rewarding purchase you ever make. However, depending on your current circumstance this may not be your best option. To help make an educated decision, try to answer the following questions first: ... read more
Is Refinancing Your Mortgage a Good Idea?
There are times when it makes sense to refinance your mortgage. It is, however, important to have a clear financial objective in mind to be able to choose the most appropriate loan. ... 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!

Thank you for taking the time to open my newsletter. I hope you are finding the articles and links useful, relevant and interesting. As always, thank you for your support and for your business!

The question on most people's minds seems to be 'what will happen to our prices this year?' While some of the out of province larger markets are more subject to price fluctuations, we are fortunate that our local Halifax market still seems to be staying the course of steady progressive growth. Last year, 2019, our market tipped over to a sellers market with prices increasing almost across the board, especially for well maintained properties. 2020 is forecasted to be a continuation of the same. So is this the right time to buy or sell? Since real estate markets are cyclical, each year offers different levels of buying and selling opportunities so, in my opinion, it very much depends on your next 5-7 year goals.

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. In the meantime I have included a snapshot of our HRM 2019 solds by 'season' below to help you track and compare the market as we move forward into 2020.

Looking forward to hearing from you!

Best Regards, Michele    


2019 Halifax Regional Municipal MLS® Solds by Season 

January to March

  • 1144 Sold MLS® Listings

April to June

  • 2639 Sold MLS® Listings

July to September

  • 1538 Sold MLS® Listings

October to December

  • 718 Sold MLS® Listings



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: Jan 13,2020


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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