"I did not see that coming!!!"
Looks like the residential inventory has carried forward its low showing to the month of March. Record lows of availability are being felt throughout key areas of the Halifax real estate market as buyers found themselves with a lack of choice in certain sectors. Condo and entry level properties are really feeling the demand.
Average sold price stays strong with a 3% jump over the highest March value month (2010) and 26% jump overall in the last 6 years. Two of the three ingredients of market indicators seem to be keeping pace with the last few month's trends which remains good news for sellers in the market.
Well, well, well. It would seem that the sales statistic wants to break the trend. This is the first time since November of last year and after the ship building announcement that the number of sales has fallen below any previous year. Coming in just below the 560 mark, sales had a mediocre and surprising showing this month.
Inventory remains low despite the volume of new listings and lack of sales this month. Sale values remain the highest they have ever been and key areas of the market are enjoying high demand and sales expedience. Sales had a surprising showing this month with low numbers and longer then usual days on market. It has been an interesting year so far and I don't expect the surprises to stop anytime soon. Seems the real estate market is just like the weather here in Halifax, hot one day and freezing the next! Make sure to come back on Thursdays for the weekly report and stay tuned for the Multi-Residential monthly market report coming soon.
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 any of your real estate transaction needs. Feel free to leave a public comment or question below. Contact me if you would like a guest spot or would like to advertise on the Halifax Real Estate Blog. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst
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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..
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