Daily Market Update

by REP13 Feb 2015
Halifax municipality performs above similar cities
Homeowners in Spryfield can declare themselves winners in the Halifax-area real estate market, an analyst said Thursday. According to an article in the Chronicle Herald, the latest data puts that neighbourhood in the lead for price gains in real estate compared with other areas of Halifax Regional Municipality in the years leading up to 2014. “If you’ve owned a home in Spryfield area for the past decade, you beat the market,” Guillaume Neault, a senior market analyst with Canada Mortgage and Housing Corp., said in an interview. Neault was one of the speakers at the 2015 Halifax Housing Outlook Conference, an annual event the corporation hosts.

February a good month for realtors
According to realtors in Toronto and and article in the Globe and Mail, some are having no trouble drumming up business this month as realtors have made some big sales in the first couple weeks of the month. One renovated Parkdale semi had an asking price of $869,000 and an offer deadline set for Monday night. After eight parties came to the table, the sellers accepted $1,150,000. More about deals like that in the Globe article and find out how realtors are capitalizing on their opportunities this month. 

Lunar year to present opportunities?
According to an article in the Vancouver Sun, the Lunar Year may bring more Chinese investors to Canada as realtors look to adjust to the wave of demand from immigrants coming to places such as B.C., the Prairies and parts of Atlantic Canada. Dan Scarrow of Macdonald Realty opened up an office in Shanghai in 2014 to assist Chinese buyers and investors interested in Canada. “I would say that the luxury condo market has been strong, but stable for several years now,” he says. “Developers have been fairly good about responding to a strong market by building more [units], which has meant that prices for condos and townhomes haven’t risen as quickly as those for single-family homes, of which there is no more supply.”

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