Residential inventory increased this month placing it second overall lowest for the second consecutive month. Sales are yet to keep down the swelling number of properties hitting the market as we witness the highest overall accumulation for the year thus far.
This month also followed a worrisome trend on the market, falling property values. For the second consecutive month Halifax sale prices took a nose dive to narrowly keep the overall sales value.
Still performing at its sub-par rate, sales this month took a nose dive to follow annual trend. There was a rebound of interest near the end of the month which contributed to its placement which I believe is in direct correlation to the confirmation of the first ship building contract.
It looked as though July would be a sleeper up until around mid month. Activity and interest could be witnessed throughout the industry with a surge of buyer interest, especially from the west coast. Stately and executive homes have seen a lot of renewed traction near the end of month as numbers of oceanfront estate homes around the HRM disappear from the market. It appears we may have seen a few areas of the "first time/entry level" market cool with the some previously "hot" areas seeing inventory climb and not disappear. Smart marketing, new innovations and market knowledge are the way to stay ahead in times when the market seems to be changing on a day to day basis. Good thing you can find them all here! Looking for monthly Halifax multi-residential reports? look no farther, simply scroll down.
Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst
Newest blog post HERE
Comments are closed.
Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah