Little Known Questions About Red Door Realty – Halifax Realtors.

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Home Management, Suite 602, Summit Place1601 Lower Water Street Halifax, Nova Scotia B3J 3P6 Tel.: +1 902 423 3202.

Home Management, Suite 602, Summit Place1601 Lower Water Street Halifax, Nova Scotia B3J 3P6 Tel.: +1 902 423 3202.

After a record-shattering 2020, Atlantic Canada has actually not relaxed at the beginning of 2021. The existing trends within the Nova Scotia realty market might be evidence that the region is extending the momentum from last year amidst traditionally low interest rates and progressing customer trends. With eXp® at the end of the tunnel in regards to the coronavirus pandemic, the Nova Scotia genuine estate market, in addition to the more comprehensive Canadian housing industry, could be preparing for amazing growth this year.

Property for Sale in Nova Scotia - realtor.com Can Be Fun For Everyone

According to the Nova Scotia Association of REALTORS, residential sales surged 31. 9 percent in February, with 1,045 systems altering hands. This is a brand-new sales record for the month of February, beating the previous record that was held up in February 2012. Year to date, house sales have advanced 30.

With low supply and high demand, Nova Scotia real estate prices are skyrocketing. In February, the average rate of houses offered increased by an impressive 30. 4 per cent year-over-year, to simply over $340,000. These trends are anticipated to continue in the coming months, due to a number of factors.

8 percent, to 1,101 systems. The number of active property listings was also down a notable 45. 4 per cent, the most affordable level in 3 decades. Months of inventory sat at 2. 3 months by the end of February, which is down substantially from 5. 5 months at this exact same time last year.