This week I am going to be trying something a little different. There are a few new condo projects going on in the North End of Halifax that seem very interesting. I will be visiting the sales center of each one, taking pictures and getting info on prices, configuration, how the sales are going, amount of deposit needed to purchase a unit and other relevant information.
Here is a couple of the Condos I will be visiting this week.
-Theatre Lofts
-McCully WorkLofts
Check back later this week and I will have the updates for you.
If you are thinking of buying a condo in Downtown Halifax do not hesitate to contact me at andrew@halifaxrealestateguy.com or call 902-488-0012.
Thanks
Andrew
Your Halifax Condo Expert
How did the downtown Halifax Condo Market perform in 2008?
Downtown Halifax has seen a wave of new condominiums break ground in 2008. Here is a list of several that have begun construction and nearing completion with links to there respective websites.
Under Construction
Nearing Completion
2. Spice
I am going to look at a year over year comparison of downtown Halifax Condos and how the average price was affected and the percentage of change in the number of sales.
| Downtown Halifax Condo Market Update 2008 | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| DEC-2008 | 255275 | 223817 | 88% | 180 days | 6 |
| NOV-2008 | 234461 | 227284 | 97% | 172 days | 17 |
| OCT-2008 | 257800 | 246913 | 96% | 112 days | 15 |
| SEP-2008 | 312350 | 300924 | 96% | 242 days | 19 |
| AUG-2008 | 229888 | 223425 | 97% | 114 days | 21 |
| JUL-2008 | 268403 | 260796 | 97% | 155 days | 32 |
| JUN-2008 | 242774 | 236581 | 97% | 196 days | 26 |
| MAY-2008 | 270251 | 264135 | 98% | 161 days | 29 |
| APR-2008 | 250041 | 244341 | 98% | 211 days | 44 |
| MAR-2008 | 231453 | 224205 | 97% | 122 days | 19 |
| FEB-2008 | 239255 | 235205 | 98% | 108 days | 20 |
| JAN-2008 | 226709 | 222974 | 98% | 98 days | 23 |
| Averages: | 251970 | 244723 | 97 % | 160 days | 271 |
Condo market update for area 1-4 which encompasses the South, North, West and Central Halifax for 2007 including new builds.
| Downtown Halifax Condo Market Update 2007 | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| DEC-2007 | 277020 | 271860 | 98% | 179 days | 10 |
| NOV-2007 | 247869 | 241415 | 97% | 190 days | 24 |
| OCT-2007 | 233449 | 225126 | 96% | 105 days | 23 |
| SEP-2007 | 243639 | 237643 | 98% | 195 days | 23 |
| AUG-2007 | 224390 | 219158 | 98% | 156 days | 36 |
| JUL-2007 | 249021 | 244131 | 98% | 197 days | 16 |
| JUN-2007 | 243370 | 236363 | 97% | 104 days | 40 |
| MAY-2007 | 261716 | 256805 | 98% | 106 days | 38 |
| APR-2007 | 249152 | 242485 | 97% | 122 days | 27 |
| MAR-2007 | 272557 | 266686 | 98% | 194 days | 28 |
| FEB-2007 | 269676 | 263130 | 98% | 276 days | 24 |
| JAN-2007 | 253040 | 246587 | 97% | 123 days | 19 |
| Averages: | 250238 | 244090 | 98 % | 155 days | 308 |
Looking at these numbers there is not a lot to say. The average price remained the same year over year. This could be attributed to the slowdown in the economy in 2008. The number of sales declined by 12%. The state of the Halifax Condo market is looking good for the future, there are a lot of new builds coming on board and it should be an exciting time. City planners are looking to get another twenty five thousand people into the downtown core to reduce traffic congestion and increase the vibrancy of the downtown area.
If you would like more information on any Condo project in Halifax. I can be reached at 488-0012 or email me.
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- Halifax Real Estate Market Year in Review 2008
Andrew Perkins
Your Halifax Real Estate Expert
HRMbyDesign will increase vibrancy and beauty of downtown Halifax
HRMbyDesign has engaged the public in a democratic, community-led process to determine the vision for our downtown and to establish new policy that will make the vision a reality. Over the past two years the citizen-led Urban Design Task Force has consulted, engaged and communicated with thousands of members of the public to ensure that the resulting plan creates a vibrant, exciting and beautiful downtown for residents and visitors. It is a plan that balances our rich past with a vibrant and beautiful future. Without this plan, we will continue to see parking lots on our waterfront, vacant and underused properties throughout the downtown, crumbling heritage resources in need of support through legislation and incentives for restoration, and an ongoing out-migration of young, highly skilled workers looking for a dynamic and progressive place to live and work.
This Plan will neither encourage nor allow 30 high-rises in the central business district, nor will it encourage the demolition of heritage resources. On the contrary, HRMbyDesign will provide strengthened heritage protections and directs any future tall buildings to those areas where tall buildings already exist, thereby preserving the heritage heart of the downtown. Finally, HRMbyDesign is creating new planning policy and has no ability to influence applications being processed under current policy.
The establishment of the Barrington Street Heritage Conservation District (HCD), HRM’s first ever HCD, will occur with the adoption of the Downtown Plan. It will help protect and conserve this continuous, well-defined heritage area through improved demolition and rehabilitation guidelines, and a tax incentive and grants program designed to stimulate the revitalization of this historic streetscape.
Improved demolition control is also being sought through provincial legislative amendments to help protect the stand-alone heritage buildings not located in the Barrington Street HCD, and through the identification of two other future heritage conservation districts – Historic Properties and Barrington Street south. Heritage design guidelines in the new Design Manual will guide appropriate development and design of buildings integrated with, and next to existing heritage buildings both inside and outside of HCD’s.
Another protection for heritage exists within the proposed development approvals process and proposed downtown land use by-law. Under the existing development agreement process, new development projects can be negotiated to heights up to the ceiling of the Citadel and Ramparts View Planes. We have seen this occur countless times over the years, as evidenced by the many tall buildings in our central business district. In many cases, HRMbyDesign is actually reducing heights below those attainable under current policy, to a pre-established maximum that has been agreed upon by the public throughout this process. These heights have been widely consulted and are informed by the local neighbourhoods, adjacency to heritage conservation districts or other tall buildings, view planes, access to public open spaces such as the waterfront boardwalk, and many other factors. Further, the new bonus zoning agreement process will provide protection 2 for heritage through onsite restoration or improvements as a public benefit to be provided by the developer.
Excerpted from www.halifax.ca website
I am an avid supporter of this plan. Halifax needs to move with the times and create an exciting downtown core. I was driving in the downtown area today and there are too many buildings not being occupied. The downtown core needs to be the heart of the city. I hope this plan gets final approval and moves forward. I will keep you posted as things change.
If you are interested in buying or selling real estate in Halifax, Dartmouth and surrounding areas you can email me.
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Andrew Perkins
Your Halifax Real Estate Expert
