HALIFAX REGIONAL MUNICIPALITY MONTHLY STATISTICS AND NEWS REPORT FOR JUNE 2012. HALIFAX REAL ESTATE STARTS HERE!
Average sale price of property in the HRM took a nose dive this month. Settling in at just over $262k, the sales value barely beat the reported stat this time last year. Regardless, the value did hold its front running position from all years prior but it was very marginal (just over $1,000). Now thats close!
Well, this is the first month since december of last year that the residential inventory didn't come in under the last 7 years stats. Again, the difference is very marginal (41 listings) and it was 5 years ago that beat it out.
Kind of surprised here. If you have been here frequently you would have read my weekly reports on lacklustre sales performance. Yet again, the sales performance this month hit the wall and slid below the last 6 years sales reports. Slow sales could be a direct relation to the lack of inventory available on the current market.
So although we seem to be enjoying a fairly stable real estate market this year (characteristic of the usual slow growth pattern affiliated with the Halifax (HRM) real estate market) there doesn't seem to be a huge impact on the current market with the ship building contract announcement. There has been a notable difference in the market but not in all sectors and not in the volume that speculators have predicted...yet. Still lots of time before the ship building contract is fulfilled and with many other factors developing, there is no doubt that the Halifax real estate market will maintain and increase its strength. Hope everyone had a great Canada Day long weekend! Make sure to come back Thursday for the weekly report.
Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? Contact me for important information, 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
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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..
Photo's by Jeremiah