Above: 446 Ketch Harbor Road
Halibut Bay, Nova Scotia
Listed For: $3,175,000
Listed by: Ernie Buote
This month, we travel to Canada, where two members of the Leading Real Estate Companies of the World® (LeadingRE) share information about their respective markets.
Dauphinée
DOMUS Real Estate
Halifax, Nova Scotia
Dawn Dauphinee, Founder/Runner
https://domusrealty.ca
Tell us about your firm.
Domus has been in the local community since 1989, primarily serving within a 40-minute radius of downtown Halifax. Our team’s commitment to our community has long been an unwritten sixth pillar of our business (pillars being integrity, dedication, professionalism, experience, and understanding). Domus Realty established a charitable fund that continues to this day, allowing the team to donate funds focused on offering local youth a better future through various initiatives.
How would you describe your current real estate market?
The median home price is around $500,000 CAD ($382,920 USD) in the Halifax Regional Municipality. Prices rose at a brisk pace in the first quarter but have started to level off as inventory builds and interest rates rise.
What is the inventory status?
With inventory rising, shoppers are taking a breather. They have more options and the sense of urgency has set in.
What home features or amenities are popular with your buyers?
Proximity to work and leisure is important to my clients. They want to limit travel and maximize time with family and friends.
What are your biggest challenges/opportunities for growth?
Halifax is now a destination, so finding affordable homes for young professionals is challenging. Due to the lifestyle, the area is attracting businesses and talent, so opportunities for growth and development are all over the city. Old houses are being demolished and large mixed residential and commercial buildings are being erected in their place. While it is exciting to see the growth and rejuvenation, it is sad to say goodbye to old buildings and character.
Are you seeing a lot of foreign investment and, if so, from which countries?
Nova Scotia introduced a foreign ban in the first quarter, but before that, we were seeing investment from all over the world. The biggest players were the UK, China and Germany. In the last month, we have seen migration from the US due to political tensions and security.
What advice do you have for foreign buyers interested in buying in your area?
Working with a broker who knows the market well and advises you on trends and changes will go a long way in securing your investment so that when it comes time to capitalize, you come out ahead.
What do you like most about living in your area?
People. There is a true sense of community where people take care of each other.
How does being part of the Leading Real Estate Companies of the World® help move your business forward?
This year was our first year as part of the LeadingRE network. I was able to attend the annual conference in March at Wynn, and the event and attendees were first class. Since then I have made many great connections and have helped relocate some buyers and sellers through these meaningful connections. Billy Ekofo, our contact, goes out of his way to make us feel welcome and follows up regularly to make connections with other members.
levesque
The Property Exchange Group
Oakbank, Manitoba
Connie Levesque, founder/broker/owner
www.thepropertyexchangegroup.com
Tell us about your firm.
Having opened the company in 2013, we now have 11 full-time REALTORS® and two full-time office managers. Serving Winnipeg and the surrounding area, we are a full-service brokerage for our agents, taking care of many aspects of their day-to-day so they have time to focus on what they love. We have a strong reputation for exceptional customer service, industry knowledge, professionalism, and trust.
How would you describe your current real estate market?
The average price in 2021 was $345,269 CAD ($264,479 USD), and in 2022 it went up to $400,707 CAD ($306,945 USD). Prices have increased significantly over the last year, but we are beginning to see a leveling off due to rising interest rates. We are still in a seller’s market, with more buyers than available inventory.
What home features or amenities are popular with your buyers?
Our buyers typically enjoy a completely finished home that is ready to move into. Open concept homes with modern finishes are also popular. Buyers are starting to look for homes with granny suites or income suites, but we’re waiting for the legislation to catch up.
33104 Springfield Road, Springfield RM, Manitoba
Listed For: $829,900
What are your biggest challenges/opportunities for growth?
We need a second location in the city of Winnipeg as we have more opportunities waiting for us there. Winnipeg is a city that is starting to get noticed, and we have many buyers from larger centers like Toronto and Vancouver who can see a good return on their properties. They can buy or build an impressive house for a fraction of the cost of the houses they are selling in Toronto and Vancouver…and they have money to spare.
Are you seeing a lot of foreign investment and, if so, from which countries?
We have seen an increase in East Indian buyers in our market. We advise foreign buyers to have their funds ready and find an agent with whom they feel comfortable.
What do you like most about living in your area?
I love my community and I love the proximity to provincial parks and lakes. Summer in Manitoba is second to none.
How does being part of the Leading Real Estate Companies of the World® help move your business forward?
I really enjoy the support I get from our contact Billy Ekofo, the camaraderie of non-competing brokers, the competitive advantage of having our listings seen globally, and being able to refer businesses virtually anywhere.
Source: www.rismedia.com