Halifax Real Estate: 2024 Recap & 2025 Market Outlook

Written by Chris Perkins: The Market, My Favourite Listing, Best Transformation and More!

The Halifax real estate market has always been dynamic, but 2024 brought a unique blend of challenges and opportunities for buyers, sellers, and investors alike. From rising interest rates finally taking a breather to record-breaking single-family home prices and stable condo values, the year was nothing short of transformative. As we step into 2025, the stage is set for even more exciting changes, including a competitive Spring market and new opportunities for savvy real estate moves. Whether you’re curious about the year’s top listings, remarkable property transformations, or where the market is headed,…

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A Quick October Update

As the weather cools down, so does the real estate market. However, comparing this past September to the one in 2023 shows sales are up by an impressive 31%. This increase is largely due to the current interest rate environment. While rates haven’t dropped enough to fully stimulate the market, home buyers are beginning to feel a sense of relief.

In the coming months, interest rates are expected to fall further. Additionally, new government initiatives aim to make housing more accessible. As of December 15th, first-time home buyers will be eligible for a 30-year mortgage. A longer mortgage term combined with lower interest rates significantly improves affordability. Furthermore, the cap on insured mortgages has increased from…

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The Fall and Housing Prices

Make sure you read that right! No, I’m not talking about a fall in home values. We’re talking about crisp mornings, golden leaves, and everything pumpkin! While the housing market tends to cool down with the weather, home values are up 1% year-over-year. Sellers are still getting, on average, 100% of their asking price, and although we have more inventory than we’ve had in years, we’re still leaning towards a seller’s market.

The Fall

Just like the leaves, interest rates are widely expected to continue falling. I'll admit, I was expecting more activity from homebuyers when interest rates first started to drop. My feeling now is that these initial decreases are boosting buyer confidence, but it hasn’t yet translated…

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Outstanding on Oakland

Welcome to 6105 Oakland Road, a gem situated on one of the most coveted streets in Halifax’s South End. This home offers the perfect blend of convenience and charm, making it an ideal choice for families looking to settle down in a place to call home.

Fantastic Curb Appeal

The home sits on a great corner lot, fully fenced for privacy and featuring a double garage. The meticulous landscaping and vibrant perennials add to its wonderful curb appeal. With additional frontage on Waterloo Street, the property lends itself well to the potential of a backyard suite, should you decide that's an option to pursue in the future.

Elegant Interior

Step inside to an open-concept main living area that exudes elegance…

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Wonderful on wanda

Hi there! Pull up a chair and let me paint a picture of a cozy slice of heaven nestled in the heart of Woodlawn. Welcome to 3 Wanda Lane, where tranquility meets comfort in a way that'll make you want to kick off your shoes and stay awhile.

That stream, though!

Picture this: a charming bungalow standing proud on a serene street, boasting a pie-shaped lot that's just begging for lazy afternoons and backyard barbecues. Yep, that's what you'll find here. Imagine starting each morning with a hot cup of coffee on your fantastic deck, listening to the gentle babble of a nearby stream. Sounds dreamy, right? Well, that dream can be your reality at 3 Wanda Lane.

Let's go inside

But enough about the yard—let's step…

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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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Upsizing | “We could sell our house, but where would we go?”

We hear it all the time - I could sell my house, but what would I move into? This seminar outlines all your options and provides you with a strategy to find a home that fits your lifestyle. It will help you understand how to leverage the value of your home to make your move affordable. It’ll teach you how to improve your current property to maximize the sale price while timing the market to sell for more and buy for less.

You’ll receive practical tips and a roadmap to your new home. Don't miss out on this opportunity to gain knowledge and inspiration from three seasoned professionals. Mark your calendars and join us for an informative and engaging discussion!

Things You'll Learn:

…

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Navy Lane Condos - By Urban Capital

Listing and media courtesy of our friend Larry Allen, KW Select Realty and Urban Capital.

Live, Work, Play.

Just a few doors down from our office on one of Halifax's oldest streets, comes the exciting new Navy Lane Condo Development by Urban Capital.  A beautiful building that blends modern flair with a nostalgic nod to years gone by. On top of its incredibly walkable location, the project offers a work life balance like no other in the North End. Featuring a work-share space including a Zoom pod and amazing rooftop amenities, complete with a heated salt water pool and views of some other salt water in our beautiful harbour. 

Pricing starting in the mid $400's

Almost 100 units have already been…

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Right-Sizing | A Downsizing Chat with Chris Perkins and Heather McCallum

Join us for an exciting in-person event at the Halifax Central Library on Spring Garden Road in Halifax, NS, Canada. Get ready to learn all about how to effectively downsize from industry experts Chris Perkins and Heather McCallum. Whether you're looking to declutter, simplify, or transition to a smaller space, this chat will provide you with valuable insights and practical tips. Don't miss out on this opportunity to gain knowledge and inspiration from two seasoned professionals. Mark your calendars and join us for an informative and engaging discussion!

Things You'll Learn:

  • The state of the Halifax real estate market
  • How to…

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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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