With the recent spike in COVID-19 cases in the Halifax area we are often asked just how do we continue to do business during this time. While the pandemic has affected all of us in different ways, the real estate market continues to be active and busy. And while nothing is business as usual, we are continuing to see houses being listed and sold throughout the area.
So what have we done to make sure that buyers, sellers and our Agents are safe during this time? Just a few things we have put in place include:
The year 2020 has been a year like no other that most of us can remember. When we rang in the New Year many months ago, who would have thought that we would be facing a 5 month shut-down due to a global pandemic? That our kids would leave school for March Break and not go back to the classroom until September? That our "new normal" would involve masks, social distancing and limiting of our social interactions?
Through all of this, the housing market in Halifax has been active. While we saw some slow down in the early days of the pandemic, one reality is that for a number of different reasons, people still have to sell their homes and others are looking to buy. One result of the pandemic has certainly been a decrease in the number of houses on the market for sale creating a sellers market - more buyers looking than there are listings available to buy. And in this Sellers Market we are seeing a high volume of multiple offers, quick sales and closings and sale prices above the listed price. The impact for Buyers is a lack of inventory, higher prices, writing several offers to be successful and quick closings.
One of the keys to being ready to act in this market is having the latest information on what's happening. We do a weekly update on the market in Halifax and what happened in the previous week. Check out the latest FastStats below and visit out page at FastStats.ca for all of the latest info.
Almost all property in Nova Scotia is sold at prices higher than the "assessed value" so then how can you use the "assessed value" to determine the market value of a home...