A Halifax realtor who’s been in the business for more than three decades says he’s never seen theMark Stein, a broker with Priority 1 Real Estate, said he’s been “flat out” in recent weeks.
“We’ve gone from having six offers on a property averaging in 2021, to now 12, and 15, and 20 on listings in 2022,” he said. Recently, one of his clients offered on a home priced at $500,000 – one of about 15 offers – and ended up paying just under $900,000. “Part of my responsibility is to be able to tell buyers and sellers, based on my expertise, what they can expect. And that’s becoming more difficult to do.”Home prices have been skyrocketing over the last two years. According to the Nova Scotia Association of Realtors, the average price of homes sold in March 2022 was a record $450,581, up 23.3 per cent from March 2021.
But even with more supply, said Stein, “I think these new prices are the ones that are going to stay.”