She heard from her co-workers and mentors that the market was “hot,” but didn’t know enough to know what that meant. She says six months ago when she entered the industry, she didn’t know what to expect. Octavia Purdy is a realtor for Exit Realty Metro. The total number of properties for sale in Nova Scotia at the end of December was 60.5 per cent below the five-year average. In 2021, 560 properties were for sale at the end of December, and only half were single-family detached homes. In 2015, when the number of homes on the market was at its peak, there were 4,189 properties listed for sale at year’s end in Halifax. Availability declined steadily from 2015 to 2019, but from 2019 onward, inventory plummeted. Inventory is at an all-time low in Nova Scotia. If an agent wasn’t one of the first to view the property, they weren’t going to make the sale. This only allowed for six days of showings and offers. She says with today’s market especially, new agents will realize how difficult it is to sell when there is no inventory.įor example, a house on Northwood Terrace in Halifax was listed for $479,900 on Jan. Only two of us have our licences now,” says Candelora. “Even when I got my licence 13 years ago, there were 25 people in my class. She says the job is glamorized on TV, but when people see how competitive and expensive it can be, they change careers. Re/Max Nova associate broker Dawna Candelora says the upward trend in licences is most likely because of an influx of agents who are new to the industry. The jump from 1,761 licensed agents to 2,001 could reflect an increase in new agents, an increase in agents from other provinces relocating to Nova Scotia, or a decrease in retiring agents. There were 2,001 licensees in 2021, which includes both new and existing salespeople and brokers.Īll Nova Scotia real estate licences expire on June 30 following the issue date, unless the licence was obtained between January and June. But in 2021, licences increased by 13.6 per cent. There has been a small increase in new real estate licences in Nova Scotia each year since 2017. In other years, this kind of drop wouldn’t be a problem, but with this many Realtors, the industry has become saturated. Brae Gough is a realtor for Brenda K’s Halifax Home Selling Group. When Gough began her career in real estate, there were around 327 single-family homes on the market in Halifax. 20, the average sale of a single family home is $602,603, almost $60,000 over the average listing price of $542,607. When she started four months ago, the average selling price for a single family home in Halifax was around $507,000. Gough works for Brenda K’s Halifax Home Selling Group, a division under Keller Williams Select Realty. “My mentors have never experienced a market like this, and they’ve been in the business (for decades),” she says. In 2021, the market slowed more than it ever has. More properties are listed during the warmer months than in the winter. Gough joined at a time when the market typically slows down. “Sellers don’t want to sell because there is no place to go, and buyers can’t buy because there is no inventory,” says Gough. She says the low inventory and competitive state of the industry are to blame. She’s noticed this not just from Realtors but from buyers, sellers and investors. She says the climate in the real estate world is unusually frantic. More Nova Scotians than ever before became R ealtors in 2021, but with inventory at an all-time low, some are left to scramble for clients.īrae Gough became a licensed Realtor in October 2021.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |