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Thank you Richard.....great, honest, analysis! :)

hmmmm RE agents were saying (in 2020) 3 months inventory was a "balanced" market. under 3 months sellers market over 3 months buyers market. NOW, 7 months is a buyers market? smh

I am seeing list prices dropping repeatedly, which would point to unrealistic expectations from (some of) the sellers. I have also seen listings being delisted after several months. It all obviously speaks of weakness in the market. I would recommend having a look at a chart of "Spain House Prices" from the 80s until now (spoiler alert: "prices not always go up, and they may take many years to recover")

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Good to see this thank you for posting!

Well the Canadian dollar went down big, so little bit of upside is totally offset anyways.

Your content has always been incredibly informative, and I’ve been a regular viewer throughout 2024. Thank you for keeping us updated, and wishing you a Happy New Year 2025!

where are the houses ? location ? any project ? jsut tallks

it is the last month everywhere point? November is over. PAST TENSE .Stats stats stats...you all say and do the same thing..

Great work Richard! The list price you show on your charts....is that the "new list price" after the reduction or the original list Price? thank you!

Our Halifax condo corporations' property manager cannot find roofers. They manage over 30 properties so not small. I will assume it is small less reputable roofers you are referring to here. There is a shortage of all trades people across the board. Also you can rent a 1,200 sf 2 or 3 bedroom apartment in Halifax for $2,500 and sounds expensive until one understands that it will cost $4,500 to own including condo fee, insurance, etc. Lower interest rates need to go a lot lower for market to shift materially in my view.

Hiya, Do you do valuation?

Hi, I've watched most of your videos & really enjoyed all of them.

Thank you Richard, great video!

Sir, Your video quality is excellent, but you are not getting more views and subscribers. Because of these SEO problems. As a result, Your video is not reaching the target audience. If you want, I can fix this problem.

Is it a bad time to become a real estate agent in NS? Is the market over-saturated with agents? or is it as good a time as any?

Yes this is only true if you don’t have an increase in population. The housing market in Halifax, NS, is facing a significant shortfall. As of 2022, there was already a deficit of around 17,500 housing units. By 2027, this gap is expected to grow to 31,000 units if current construction rates continue.

Thank you Richard...excellent insights!

Thanks for adding median, that helps a lot to see if high price sales are dragging average up!

I love your videos!

Interestingly Hants August sale prices were in that previously discussed ‘under $500000 sweet spot’ where multiple competitive listings over-asking was the trend. This time the average sale price was under the average listing price. Is that seller’s sweet spot shifting?

I think adding median numbers would be helpful, to help determine whether average is being dragged up or down by extreme differences in prices (high to low). Especially when it comes to sale price. When the range is high, median is a better indicator.

I guess these will take forever to them ready . Just wondering the status of the 22000 that was approved back in March of 2022, how many are near completion

Clearly, Carr Farm would not be approved if it didn't have a suitable wastewater and sewage treatment plan. This argument was put to bed during the numerous council meetings.

thanks

Yeah...some days new listings vs price drops of existing listings, can be over 50%

Thanks Richard for your honest analysis! :)

Lots of good information. Thanks for your effort. Cheers

Can you please let me know the 4 top builders in Halifax

Halifax has a lack of affordable condo and townhouse units. Too many “luxury” condos, not enough starter units.

During COVID, I paid my rents and my landlord got mortgage payment deferrals. After COVID, I paid my rents and my landlord got 100 years of amortization. From 2020 to 2024 I got a zero dollar increase in my salary and my landlord's house doubled in price. Now for renewal F. Minister told landlords to see the mortgage charter that means 100 years of amortization again. In the meanwhile rents, groceries, gas, insurance all are up, up and up.

really?

There is a lot house put on the market as everyone know the house market drop 50% after fed cut new immigration program. Just sell to some stupid do not understand economy. lol

So much good information on a short video. Thank you sir!

Never thought about it. Thanks for this tip

Amazing how close the prices are in Canada to Halifax England!

Great content! With interest rates coming down (possibly) towards the end of the year and beginning of 2025, do you antecipate Halifax to have another big increase in prices like we saw in 2020/2021?

New construction is subject to 15% HST isn't it?. You are talking about my street in Elmsdale I think.

Hi Jane, you had mentioned you are in a neighborhood with good schools. Could you tell me the neighborhood please. We are in Ontario and researching about schools for our kids before we moved there later this year.

Great 👍

Can describe any options of buying a land and building a house? Some features, restrictions, numbers.

Sounds dicey and exciting and luck needs to be involved. Probably my next step.

😓 Promo>SM

It will be very interesting to see the next few months....If you look back in history, February was always a good month in bad real estate market years....thanks for the great content!

Mortgage rates go down in "2024", that doesn't mean they wont go up in 2025, 2026, 2027...hmmmm

Thanks

Thanks for your honest analysis!

Thanks, Richard! We hope to move back to Halifax someday.

Always look forward to your updates. I can always count on you be the first one out with a review. Happy New Year!

Nice video and analysis. One comment, some of your ratios appear to be labeled inversely eg “list to sale” and “new listings to sales”