Ladies and Gentlemen! I’m back with another long-awaited blog post! 

What a whirlwind of a summer it was. I hope everyone had a fantastic couple of months. I had a great little trip to the motherland (PEI). Played lots of golf, caught up with friends and family, and maybe partook in a beverage or two (that is it though). The beauty of Prince Edward Island is out of this world. Growing up there, I took it for granted. Now that I’m a little older and much wiser, I cannot help myself but take in all the picturesque scenery.  

Now that I'm starting to put away my shorts and bringing out my sweaters (lovesweatawetha), I'm finding a shifting Real Estate market. You know I was going to talk about Real Estate at some point, right? When I mean shifted, I mean that we are finding sales down and homes staying on the market longer. Which means more and more price reductions. Also, like I said in an earlier blog, conditions are a thing again. Home inspections, well inspections, septic inspections, you name it!  

In August, the average sale price for Halifax-Dartmouth was around $524,887. We have seen it drop in September to $505,664. Halifax-Dartmouth sales in August for both single family and condos were 1,547 and 1,250 in September. Of course, the talk of the town is interest rates. It’s no surprise the Bank of Canada is increasing them. Mortgage specialists are predicting one, if not two more hikes this year. This would be one of the main reasons we are seeing a shift in the market. It comes down to borrowing power. With the high rates, comes higher stress tests. Which means in the end, the amount of money your lender is willing lend you is restricted.  

 
We are currently still in a sellers' market though. If you recall my months of inventory explanation in a previous post (not going to explain it here. So, you must go search for it. Muhaha). The market is showing that in September, we were only sitting on 1.8 months' worth of inventory. Which states that we would need to almost double the amount of inventory to be in a balanced situation. That being said, we are starting to see that number climb as the months pass. At the end of May, Halifax was only sitting on 0.8 months of inventory.  

Since the market is showing signs of slowing, I would say there is ample opportunity to start looking to buy. For one, there is less competition. Two, lots of negotiations to get you the price you feel comfortable with. I spent the better part of the day yesterday dealing with negotiations on price. Ultimately, the Buyer and Seller came to a number that worked for them both. I love that part of my job, and so happy that I can do this again.It’s stressful and exhilarating.  

So, if you are in the market to buy or sell, and you are reading this world renowned blog. Give me a call. I would love to help you on your move!    

To the millions of my fans, the wait is over! Another blog post!  

I know you all were waiting with bated breath. I’m here again to talk about the market and give you an update on my life (so you aren’t totally bored with stats).  

How is everyone's summer going so far? We have a few weeks left, so get out there and explore this fantastic world we live in! What are some of the things you and the family have been doing? I personally have been benefiting from all the great beaches Nova Scotia has to offer. My side hustle from the beach would be golfing of course (pun intended).  

 
Orignally from Prince Edward Island, I had the pleasure of visiting home recently. Talk about beaches and golf, this place is the Mecca of both. If you find yourself in God’s country, make sure you check out the many restaurants and fun activities PEI has to offer. If I can make a suggestion, on your way home via the bridge, make sure you stop by the HandPie Company. It’s literally just moments away from the Confederation Bridge. They make delicious little handpies. I would recommend the PEI pasty.  

Alright enough about me. Let’s get into the juice of the blog. The market!  

We are starting to see a slowdown here in Halifax. We went from 645 sales in June 2022, to only 469 in July 2022. There could be many factors that we are starting to see a decline in sales. Number one being of course the rising interest rates that are on everyone's mind, and the second reason being time of year (summer, and vacations). In my last blog, I was adamant about these rates just getting back to a pre-pandemic norm. The Bank of Canada has two more announcements for rates this year. One being next month on September 7th, and the other being on the same day in December. This is weighing on people's minds, and they are a little wary about what the market is going to do.  

I say that there is sooooo much opportunity for buyers at the moment. Why wait?  

We are starting to see more and more inventory each day. Which means you buyers have time to look around. I know I sound like a broken record but it’s true! Buyers have a voice again! (Apologizes for the explanation points, I’m a millennial, I can’t help it.) Negotiations are back on the table, and of course CONDITIONS! You are protected once more. Let’s get you that home inspection. 

Our average sale price is also decreasing. We went from an average of $558,512 in June, to $521,075 in July. Sellers, don’t get discouraged at the changing market. We are very much still in a sellers' market. With only 1.6 months of inventory, we would need to double the number of homes for sale to be in a balanced market. You can still capitalize on the value of your home! There is a huge demand for homes between $300,000 and $500,000, so if you fall in that range, have no fear. Also, if your home is on the peninsula, of course there is huge demand for you as well. Let me know, and I can come give you a market analysis .  

I’m not saying that bidding wars are gone the way of the dodo though. They are still happening, and in some cases multiple offers are being received on certain properties.  

What are your thoughts on the changing market? Are you a Buyer that is waiting to see what September 7th is going to bring us? Are you a Seller that fears they have missed the boat on maximizing your home's value? I would love to know your thoughts on both sides of the story. Give me a call, and I would love to chat about it!  

Wigmore out!  

My devoted fans, welcome back! 

Here we go again with another attempt at a blog post. This time around, I am focusing on the rumor of a catastrophic market decline.  

As many of you know, sources are portraying the housing market as volatile. Sure, it has slowed down a little bit, but guess what? I think that is a bunch of horse........ I should say that I can’t speak to the rest of the country. I am merely referring to the Halifax market.   

The fear of increasing interest rates is on a lot of people's minds, and who can blame them.  Inflation is real right now. You can see it everywhere you go, whether it be groceries or gas. Prices are up all around us. Regarding the interest rates of mortgages, I would have to say that yes, they are up. But they are only getting back to where they used to be before the pandemic. We must face it. We won’t see the low interest rates again that we have been dealing with the last two years for a long, long time.  

For home buyers alike, this is great news. Either you have been looking to purchase your first home and got tired of the past market (you know what it was like), or just starting to get into the process. You now have more of a voice than before. You as the buyer are getting to think about the home you want to buy, or moving onto the next home - as opposed to viewing a home and basically deciding if you want to offer right then and there. 

In some areas, we are seeing homes stay on the market a little longer than usual. On my end, I’m seeing the decrease of “offer dates”, and more and more price changes. I agree that it’s cooling off a little bit, but nothing like people are saying. Halifax has so much going for it. We have three hospitals, 3 Universities, and ports. With the immigration not only from outside the country but also within, I don’t think Halifax will see a major decrease in prices. Our issue here is inventory. Until they start building more homes, the demand for living will still be strong in a vastly growing city.  

What do you think of the current situation of the housing market? I’m interested in knowing. Feel free to reach out to me, and we could discuss. I love to talk (it’s waaaaay better than writing). 

 
Alright, that’s enough reading. I won’t keep you any longer! 

Well, well, well, here we are in June. What a Spring market it has been so far. We are starting to see a flurry of listings hitting the market (finally!), and what a beautiful season to view them. I wanted to pop on my blog to give my millions of fans and followers (I might be off by a few 100,000 or so) a snippet of how the Halifax market is doing.  

As I was saying, we are starting to see more and more homes hit the market. This is fantastic news for buyers of all kinds. The trend that I'm starting to see is that homes are staying on the market longer than they have been the past two years. This means that you as the buyer have a fantastic opportunity to go view a home, and actually have time to think about it.  

Since April we have seen an increase of 14.8% listings hit the market. Also, we have finally broken into the 1.1 months of inventory mark. This means that if nothing new was to list, it would take 1.1 months to sell all the remaining properties. This is great news for buyers, as the tables are turning in your favor (celebrating dance emoji).  

 
I would have to speculate that the shift in the market shift is due to buyer confidence and increasing interest rates. Unfortunately, the increase of the rates is inevitable. I am no mortgage specialist, but I would say that the rates will continue to increase for the foreseeable future. This is not the end of the world! It just means that your budget won’t be where you thought it would be. All we need to do is pivot your search and criteria.  

 
The even better news about the cooling of the market and being a buyer, is that now you have a voice! You have more inventory to look at and might not be in multiple offer situation (you’re more in the driver’s seat). See buyers, there is light at the end of the tunnel. The numbers of the market are slowly heading in your favor. My advice to you would be (if you are a new home buyer reading this), to find a mortage specialist and get a pre-approval. This will not only benefit you when it comes time to submit an offer, but the beauty of it is that you will know what you are looking at, interest rate wise. Then you can plan and budget!  

I could spend days ranting and raving about the current market. I won’t bore you with that. Although, if you are interested in buying or selling in this market. Give me a call! That way you could hear all my opinions.  

Until next time.  

Well, Spring is here and boy I CANNOT wait for the warm weather. I’m back here with my second blog attempt, and I hope you enjoy it!  

As the weather gets warmer and the flowers start to bloom, so does our real estate market. This is the time of year when we start to see a flurry of activity on the market and more homes for sale. We are still at an all-time low for inventory. Currently we are sitting with 0.3 months' worth of homes to sell. This means that if nothing new came to market, it would take us around 12 days to sell everything. That is not the best news for buyers, especially new home buyers trying to get into the market.  

New home buyers! I feel for you. Things may look tough and grim, but my advice to you is to “keep on truckin’”. With more inventory hitting the Spring market, you will have more and more opportunity to secure the right home for you.

What I am hearing and seeing is a little bit of buyer fatigue happening. Which could actually benefit you if you stay in the game. Buyer fatigue means that people are getting frustrated with the market and either bowing out or putting the hunt on the back burner until the market “cools”. My recommendation to those who are losing faith, is keep with it. The market is not going to cool down anytime soon, even with everything you are hearing about the interest rates and other news.  

Our market is here to stay for the foreseeable future. Again, this is mainly due to the lack of inventory and how fast our beautiful city of Halifax is growing. So, the quicker you get into your new home, the better off you are. Now, I know you realize that and don’t need me telling you this. I am merely here as a voice of inspiration. There is light at the end of the tunnel, we just got to drive through it first.

Sellers. Of course, this is your time to shine. The market could not be any more in your favor to sell. We are looking for you. Where are you at? I would love to help you find out the value of your home. Odds are that it’s worth more than you think.

Feel free to reach to reach out to me, so I can help you find that perfect home, or help you value your current one (it's free why not!) 

Happy Spring everyone!   

Hey everyone.  

This is my first attempt at a blog post, so bear with me! I am a realtor, not an English major.  

I want to pop on here and talk about the last few months of the market. I don’t know if you are paying attention to this aggressive market but if you are here reading this, then I will go ahead and assume you are mildly interested. 

2022 has kicked off with a bang. We are in an aggressive sellers' market with exceptionally low inventory. From December 2021 to January 2022, we have seen a drop of listings from 219 in December, to only 180 in January. In February, we saw around the same number of listings as January. 

Not only are we seeing low inventory, but we are also experiencing extremely aggressive bidding. As of today, homes are selling on an average of 122 percent above their list price. This is insane to think about! It is incredibly frustrating to be a buyer in this atmosphere. I have a colleague who was in a multiple offer situation against 47 other bids. I do not want to fearmonger, but this is the reality of the current situation.

If you are looking to sell your home, you are very much in the driver’s seat. We are begging for you! Whether it be that you are downsizing, moving out of province, or even wanting to relocate to another area of Nova Scotia. Your home will hopefully sell very quickly and for a great price. 

Now that it is March, and Spring is right around the corner, we will start to see more listings hit the market. Unless we magically see a flurry of new construction hit the market, buyers are in for a stressful Spring. I don’t see this crisis balancing out anytime in the near future.  

I will now end this blog post with a cliché. If you know of anyone that would like to buy or sell, I would love to be their amazing and charismatic realtor of choice (insert winky face here).