Hey Halifax Brenda K here with the Halifax Home Selling Group oh my God what the hell is going
on with real estate in Halifax right now let's check out what was happening in or what did happen
in October here so 20 21 to over 2020 so we're down 546 43 we're down listings is that I'm crazy
absolutely crazy I mean look at that well here you're almost 1200 down so and we we want we
wonder why we're saying you know I'm not that busy well that's why so number of sales of course
the number sales are down because the number of listings are down so that's going to happen now
the units are over 2018 2019 when we did have lots of inventory in so the units year to date though
they are up so 62.37 not a huge bit here quite a bit actually over 2018 and again
when you look at the numbers 24 45 like 2 45 listings as opposed to you know 4 915 here
and the sales it it really is mind-blowing mind-boggling these numbers that we're having
the days on market so it's taking an average of 19 days to sell a home here's how quickly buyers
can can get in tuned with the market now if they see something that's been on for over 14 days
they say oh my god what's the matter with that house
right month supply so if nothing was to come on the market again in Halifax we've got about six
weeks worth of inventory and this we're talking about of course all types of residential units
this I thought I'd never see the average price 485 000 didn't change
right if you bought your house in 2018 for 296 000 and change you'd have 189 000 and change in equity
insane never ever thought I'd see it we'll talk about a little bit more about that on the grass
um prices again 110 percent over asking houses are still going out over asking not all of them
not 100 so but for the for the most part and especially in certain price points
they definitely are over appreciation and like I said this is this is really really big like 22
in a year 22 in a year that's absolutely nuts so again looking at the graphs everybody knows
I love my graphs here and the units down here I mean it's and it's almost like between a rock and
a hard place now there are sellers that want to sell but they don't have any place to buy
so they don't want to sell and if they don't start selling we're not going to get any more
inventory on the market here sellers we need you to sell and let's see with the number and
again here number of sales so like I said we're going into a vicious circle right here now that
we we need to come out of we need to come out of days on market and like I said again you know
people calling me out and saying hey you know it's been on for 20 days what's wrong with it isn't
that insane you know it was only a few years ago when there well I would have said probably 2017
when your average days on market were like 90. so you know it it has even coming down to where it is
people buyers are still questioning that so in price this is this is huge right here the
price difference so a lot of people will say to me what do I think about the prices
are they gonna fall off are we gonna have a housing crisis what's happening so right now i
don't see any change in it the trajectory is still going up I don't know if it'll continue to go up
to the point it is covet has really settled down so some of the movement out of Ontario and west
have slowed a little bit down coming into the problem but they're still migrating here
and that did cause a lot of the prices to go up not not the total cost but they contributed to
the cause because the other one of course was was um just low inventory so if you'd like to know
what's going on in your market please reach out to me I'd be happy to sit down with you I'm Brenda K
and the sweet Miss Frankie's right here beside me can't see her today if you like my channel and you
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