April 2020

'COVID-19 means big changes for realtors, home buyers and sellers' ~ Halifax Yvonne Colbert · CBC News · Posted: Mar 27, 2020
... trading has not halted anywhere in Canada and it instead recommends agents try to limit or stop any work that requires personal interaction with others, including in-person appointments, property viewings and open houses... virtual tours... ...
Agents scrapping open houses as real estate industry responds to COVID-19 ~ Mar 20, 2020 By: Michael Lightstone, Halifax Today
... due to the COVID-19 turmoil, he said, visiting a property in person has to be balanced with the greater good. “That’s the balance that we’re trying to strike right now,” said Honsberger, who’s also the president of NSAR ...
Market Watch - COVID-19 Weighing on The Housing Market
The Canadian real estate market is adjusting to tightened restrictions on doing business as properties continue to swap hands in the midst of the COVID-19 pandemic. ... read more
What is Mortgage Payment Deferral?
The Coronavirus crisis has left many homeowners in Canada without a job or with reduced hours and wondering how to pay their mortgage. Homeowners facing financial stress may be eligible for a mortgage payment deferral up to 6 months to help ease the financial burden. ... read more
Spring Home Maintenance Checklist
Keeping your home in top shape requires year-round care. While each season brings different tasks and challenges for homeowners, spring is an especially important time – it’s when to assess winter wear and prepare for summer. ... read more
Top Energy–Saving Tips for Your Home
Good energy habits help you save money and the way we use energy plays a big role in how much we’re paying for it. For example, if you leave the hot water running constantly while you’re shaving, you’re using a lot of hot water just to rinse the razor a few times. ... 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! 

It is April 13 as I am writing this note and there are currently 1435 (compared to 1,123 in March) conditional MLS® sales in all categories showing on our Nova Scotia MLS® system.

This is indeed the Spring Market now and we are seeing more listings as expected. The overall market continues to be a continuation of the sellers market, with most sellers still receiving multiple offers and buyers continuing to experience aggressive competition from both local and out of province clients.

It's really interesting to see which parts of the province are experiencing the highest sales. As to be expected, HRM is the highest, yet 55% of the total sales that have firmed up in the last 4 weeks are outside this area. From the 2055 MLS sales, across all categories of real estate, that have firmed up across the province in the last month, here's the break down;

  • Annapolis Valley 317 solds
  • Cape Breton 143 solds
  • Highland Shore (Antigonish - North side of Cape Breton) 95 solds
  • Northern Shore (north of Truro up to Amherst, over to New Glasgow) 253 solds
  • South Shore 290 solds
  • Yarmouth area 42 solds
  • Halifax/Dartmouth - HRM 915 solds

Also interesting to note that last month, approx. 51% of the total sales that firmed up the month before were across HRM compared to approximately 45% this past month. 

Vacant land also continues to be in high demand!

So where are we going? I believe our sellers market will continue despite the anticipated stress test change in June. In the short term, though it will likely add even more heat to our sellers market, our average prices are still lower than most comparable markets across the country. That and the demand for 'work anywhere from home' properties will likely continue to move our market well into the foreseeable future. 

If you are considering selling, this is still definitely the time! If you are looking to buy, please contact me anytime! 
 

Hope you have a great month! 


With Gratitude,

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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