434 Ketch Harbour Road, a 1.8-acre ocean front building lot. This prime piece of real estate offers an unparalleled opportunity to fulfill your Nova Scotia dream home aspirations. Boasting breathtaking ocean views that stretch as far as the eye can see.

This property provides a front-row seat to one of Nova Scotia's most captivating displays. Surrounded amidst magnificent homes in the Breakers community, this property offers the perfect blend of seclusion and sophistication, while still being close to all amenities. Whether you're seeking a peaceful retreat or an idyllic setting to raise a family, this location caters to a variety of lifestyle preferences.One of the most enchanting features of this property is the opportunity to watch various sizes of boats day by day. This maritime activity provides a constant source of fascination and awe.

As evening falls, unwind and relax to the soothing sounds of the ocean waves crashing against the shore. Sit back and admire the view from your future deck, your living room and potentially all areas of your dream home. This property offers a sanctuary from the hustle and bustle of everyday life. A true ocean front oasis awaits.

Don't miss your chance to own a slice of paradise in Nova Scotia. With its stunning ocean views, expansive lot size, and unparalleled natural beauty, this property is ready to be transformed into the home of your dreams. Embrace the Nova Scotia coastal lifestyle and make your vision a reality today.

Hello Friends =) 

There is a lot going on in the market. I will do my best to break it all down and share where I think we are now, and where we are going. 

My office recently had the pleasure of meeting with the Senior Economic Analyst from the Canadian Real Estate Association (CREA). He was able to show and inform us of what the Real Estate Market is looking like across the country and what to expect. One thing he said that stood out in all our minds was    "Buckle Up" . That sure got our attention! Let’s get into it.

Across Canada and here in Nova Scotia, we are again starting to see the months of supply go back down. What does months of supply mean? This is a measurement to show how long it would take to sell everything on the market as of today with no other listings being added.  Here is the breakdown of months of supply statistics in the past 5 months:

HRM Months Of Supply ( Below 3 Months Is a Sellers Market ) :

Oct. 2023 - 2.6 Months

Nov. 2023 - 2.5 Months 

Dec., Jan. & Feb. - 2.0 Months

We have been hearing a lot about what is going to happen with the interest rates in Canada. Seems everywhere we look, the conversations are coming back to rates ( no? maybe just me? lol ) Although we do not have a crystal ball, it is pretty safe to assume that rates will be coming down; by how much and exactly when will remain a mystery. However, when these rates come down, we are going to see more people enter into the market. There are quite a few reasons for this. 

1. The obvious reason is lower interest rates.  Lower rates will bring those that were waiting to enter into the market and get out of high rental costs.

2. The cost of living has gone up and with that comes higher rental prices. Not only the rising costs in the rental market, the scarcity of suitable homes to rent also contribute. It is not hard to miss the housing crisis we have not just here in HRM, but all across the country. With more and more people struggling to find a decent rental at a decent price, they will be pushed into buying.

3. Over 2.2 MILLION mortgages are to renew at higher rates in 2024 and 2025. This one can go either way in my opinion. A lot of these mortgages were when the Real Estate Market was at a peak and interest rates were very low. With this large amount of mortgages up for renewals where rates are at now, might be too much for some to keep up. This is going to lead to some having to sell.  The other side to this is that home values have also risen very quickly. Some people may have been able to build up a great amount of equity in a matter of a few years. This will likely have some moving up the property ladder. 

 4. The population in Canada has skyrocketed in 2023 with over 1.2 MILLION additional people living in this county as of the end of 2023. All of the new-comers need places to live, again adding to the supply & demand issue we are facing on a wide scale. 

If we look here in HRM alone, the average sale price as of Feb. 2024 was $575,051 compared to Feb. 2023 was $542,430. This is an increase of 6% in 1 calendar year. The Canadian average sale price is approaching $700K, very likely going higher in 2024. 

There are a lot of moving parts right now in the Real Estate World of things. Everyone has a different situation when it comes to their real estate needs or wants. That is why I think it is important to stay up to date with how things are shaping up either good or bad. What could be bad for me could be good for someone else and vice versa. It is about understanding where you are in the process and knowing what options are available to you now or in the future. 

Thanks a bunch for reading my blog!

I do love to talk about real estate and I could do it for hours and hours. If you have any questions, concerns or just wanna have a little chit chat, get in touch!

~Real Estate & More With Kor