Luxury Home Trends for 2024

By Sherry MacLeod Managing Broker at Cape Breton Realty As I prepare to travel to Las Vegas this week to attend a Luxury Portfolio International Conference and meet Realtors from North and South America, I am reading about luxury home trends. I thought I might share my findings here. It’s interesting to see the changes from year to year. A recent study by 1stDibs, an online design marketplace, has indicated significant shifts in luxury home trends for 2024. According to the findings of the seventh-edition Interior Designer Trends Survey, there is a notable resurgence of certain areas of the home, with kitchens expected to be the most sought-after spaces for design projects, while interest in home office revamps appears to be diminishing. The report suggests a departure from recent trends, with a growing demand for design elements inspired by specific eras, such as bohemianism. Anthony Barzilay Freund, the editorial director at 1stDibs, emphasized the significance of the anticipated aesthetic shifts highlighted by interior designers, acknowledging their role in shaping style and taste. Color preferences and pattern affinity are also undergoing a transformation, as bright colors like red, yellow, and orange are falling out of favor, giving way to the rise

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Addressing the Canadian Housing Crisis: A Call to Action for 2024

By Sherry MacLeod Managing Broker of Cape Breton Realty As we reflect on the housing market of 2023, across the country, it is evident that the year was defined by unpredictability, with a surge in sales and a decline in listings and prices compared to the previous year. Looking ahead to 2024, the Canadian Real Estate Association (CREA) anticipates sustained market activity in the first quarter and into the spring, driven by factors such as interest rates, increased demand, and limited inventory. The housing market’s unpredictability in 2023 serves as a backdrop to the persisting housing crisis in Canada, characterized by severe inventory shortages and affordability challenges. This crisis demands immediate attention and action from all levels of government. The high demand for housing, expected to grow with increasing immigration, coupled with limited inventory, underlines the urgent need for collaborative measures and policies to foster a more affordable and accessible housing market for all Canadians. In order to address the housing shortage, it is crucial for governments to acknowledge and act upon the pressing need for increased housing supply in every city, town, and neighborhood across the country. This necessitates visionary thinking and solutions, which may include reforming municipal zoning

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Some assessments are up over 50 percent in 2 years! How can that be?

By Sherry MacLeod Managing Broker of Cape Breton Realty This week, as we received our property assessments, my inbox and answering machine has been flooded with concerned friends and clients who have been with me for the past 30 years or so. I completely understand their concerns as property assessment notices arrive, especially when there are significant increases in property values, sometimes ranging from 41 to 55 percent. To provide clarity on this matter, let me explain how property values have changed in the past 2-3 years, as presented in the graph below. We will specifically focus on the Highland and Cape Breton regions and explore how property assessments work in Nova Scotia. To understand how property assessments in Nova Scotia are determined, it is important to shed light on the major increases in assessments this year. Assessments are conducted periodically using a standardized process that takes into account various factors, such as area market trends, sale prices, and property use. The graph highlights the percentage increases in average sale prices in the Highland region, which includes Antigonish, Guysborough, Richmond, and Inverness Counties. These figures reflect the trends and changes observed in property values over the past two or three

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