Above: 446 Ketch Harbour Road
Halibut Bay, Nova Scotia
Listed For: $3,175,000
Listed By: Ernie Buote
This month, we travel to Canada, where two Leading Real Estate Companies of the World® (LeadingRE) members share insights into their respective markets.
DOMUS Realty
Halifax, Nova Scotia
Dawn Dauphinee, Owner and REALTOR®/Consultant
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 charity fund that continues to this day, allowing the team to donate funds focused on offering local youth a brighter future through various initiatives.
How would you describe your current housing market?
The average house price is hovering around the $500,000 CAD ($382,920 USD) mark in the Halifax Regional Municipality. Prices were rising at a quick pace in the first quarter, but have started to level off as inventory increases and interest rates rise.
What is the state of inventory?
With increasing inventory, buyers are taking a breath. They have more choices, and the sense of urgency has settled.
What home features or amenities are popular with your buyers?
Proximity to work and play is important for my clients. They want to limit the commute and maximize time with family and friends.
What are your biggest challenges/opportunities for growth?
Halifax is now a destination, so finding affordable houses for young professionals is a challenge. Due to the lifestyle, the area is attracting companies and talent, so opportunities for growth and development are all over the city. Old character homes are being torn down and large buildings with mixed residential and commercial are going up in their place. While it’s exciting to see the growth and rejuvenation, it’s sad to say goodbye to the old buildings and character.
Are you seeing much foreign investment—and, if so, from which countries?
Nova Scotia introduced a foreign ban in the first quarter, but prior to that, we were seeing investment from all over the world. Bigger players were the UK, China and Germany. In the past month, we’ve seen migration from the U.S. due to political tensions and safety.
What advice do you have for foreign buyers interested in buying in your area?
Working with an agent who knows the market well and advises you on trends and shifts will be helpful in securing your investment so that when it comes time to capitalize you come out on top.
What do you love most about living in your area?
The people. There is a real sense of community where people look out for one another.
How does being part of Leading Real Estate Companies of the World® help advance your business?
This year was our first year as part of the LeadingRE network. I was able to attend the annual conference in March at the Wynn, and the event and attendees were first-class. I have since made many great connections and have helped relocate a few buyers and sellers through these meaningful connections. Billy Ekofo, our contact, goes out of his way to make us feel welcome, following up regularly to make connections with other members.
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 admins. 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 that they have time to focus on what they love. We have a solid reputation for exceptional customer service, industry knowledge, professionalism and trust.
How would you describe your current housing market?
The average price in 2021 was $345,269 CAD ($264,479 USD), and in 2022, it has gone up to $400,707 CAD ($306,945 USD). Prices have increased significantly over the last year, but we’re starting to see a leveling out due to interest rates rising. We’re still in a seller’s market, with more buyers than inventory available.
What home features or amenities are popular with your buyers?
Our buyers typically enjoy a fully finished home that’s move-in ready. Open concept homes with modern finishings are also popular. Buyers are starting to look toward homes with granny suites or income suites, but we’re waiting for the legislation to catch up.
Listed For: $829,900
What are your biggest challenges/opportunities for growth?
We have a need for a second location in the city of Winnipeg, as we have more opportunities awaiting us there. Winnipeg is a city that’s starting to get noticed, and we have many buyers coming from larger centers such as Toronto and Vancouver who can see a good return on their properties. They can buy or build a stunning home for a fraction of the cost of the homes they’re selling in Toronto and Vancouver…and have money left over.
Are you seeing much foreign investment—and, if so, from which countries?
We’ve been seeing an increase of East Indian buyers in our market. We advise foreign buyers to have their funds ready to go and find an agent they feel comfortable with.
What do you love most about living in your area?
I love my community, and I love the proximity to provincial parks and the lakes. Summer in Manitoba is second to none.
How does being part of Leading Real Estate Companies of the World® help advance your business?
I really enjoy the support I receive from our contact Billy Ekofo, the camaraderie from non-competing brokerages, the competitive advantage of having our listings viewed globally and being able to refer business pretty much anywhere.
