February enjoyed a healthy gain in sales during the month as it settles in just below the benchmark year of 2007. Sales remain healthy for this time of year with no clear sign of slowing and as a matter of fact its gaining momentum!
Inventory remains at an all time low coming at at a mere 3,672 active residential listings. With only a slight gain in stock it appears the market absorption is happening faster than anticipated. Well, its almost keeping up...
The residential average sold price took a nose dive in February but still managed to stay above previous years averages. Above average condo and starter home movement has contributed to the drop of this statistic.
Things continue to push on as the spring quickly approaches. Activity is up in all areas, things are flying off the market and availability is still at an all time low. One can only wonder what the spring market will bring as the numbers keep edging Halifax into the first sellers market that this city has seen in ages! The general feedback and consensus when I talk to clients, peers and friends alike is "I was going to wait, but with everything happening I think its time for me to make a move (no pun intended)." Smart thinking in a market that is only going to go up in value, the only question is how much.
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 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..
Photo's by Jeremiah