The recent cold snap we’ve been having in HRM lately has provided for some interesting conversations with those out shopping for (or showing) houses in these conditions. I thought I would take a minute to reflect on some of the characteristics about our business a la Winter time. 

The Winter market: 

Residential Real Estate in HRM, like in most cities across Canada, is a very seasonal industry. Real Estate Brokerages & their respective REALTORS(R) generally sell & close 65-70% of all properties sold in 4-5 months - May-September. Some of this results from economic factors but much of it is due to the seasonal basis our lives revolve around. Often people avoid moving during the Winter time due to the fact that children are in school, the Christmas & New Year holidays, March break, and finally of course the weather. In most cases December through March is a slower period with less inventory (houses for sale) and fewer active buyers. This year however it seems the lack of inventory is still true but the number of active buyers seems to be up substantially. In fact here at REMAX nova our agents have been involved in numerous multiple-offer situations over the past two weeks. Even though Winter is regarded as a slower period in our business, it can sometimes be a great time to list or buy due to that exact outlook. Both as a seller or buyer “less competition” (inventory & buyers) can lead to a more desirable outcome, which is what we’ve been seeing in our market recently. 

Practical Considerations:

Some considerations to keep in mind when buying (or selling) a home in Winter…

• Snow covered rooves - inspectors are often unable to fully identify how old & in what condition the roof of a home is due to ice & snow covering it. On the positive side, you may be able to see if a roof has poor or inconsistent insulation due to “patches” of snow where heat loss has melted snow in certain areas.
• Landscaping - Again due to lack of visibility, the lawn & grounds surrounding a house can turn out to be quite different than what you envisioned under the snow & frost. Be sure to look at past photographs or clean off parts of the lawn to ensure it is indeed lawn & not gravel or swamplands :) 
• Freezing pipes - Often an issue with vacant homes, this can be a very costly and damaging hazard. If buying, be sure to have the plumbing inspected and water tested. If selling, be sure to keep the heat at a reasonable level and run the water periodically. Even under a “firm” sale the homeowner is responsible for the condition of the house right up until the actual closing takes place. 
• Viewings after dark - It sounds simple but there are a lot of viewings that take place after dark. Just like above this limits what you can see as a buyer. Be sure to schedule at least one viewing during the daylight to walk the property & see the home from the outside. 
• Watch your step - As a seller be sure to shovel & salt driveways & walkways to ensure someone can enter & exit the house safely. If someone injures themselves it’s the homeowners insurance that will ultimately have to respond in the event of a claim. 
• Prepare Accordingly - Dress warmly, wear appropriate footwear, bring hot chocolate, & most of all - have fun!!