Halifax Sales February 2013
Not quite on par with last year at this time but we are making a slow recovery from last years dismal end. Not out of the woods yet and the next few months will be instrumental
in whether or not we will make a full recovery.
Halifax average sold price February 2013
Huge downward spike in the average sale prices this month! Looks like some of the listings waiting out the market flux had to make some market corrections to get their properties sold. I'm interested to see how far this market correction will go.
Halifax Inventory February 2013
No longer at record breaking lows, inventory has made a solid recovery in its february debut. Following annual trend we will see the next few months inflate to the peak of the year (usually May). Even with a good amount of inventory currently on the market, there is still a few regions and sectors of the market that are in high demand. While the waiting continues with regards to the final confirmation and details of the shipbuilding contract, many home buyers and sellers patiently read articles, research on the web and talk about the lack of progress or news associated with it. Last years poor sales performance was a reminder to a lot of folks that these things take time and 10,000 workers just don't show up overnight. Now that the contract has been "baked into the market" so to speak, sellers are getting more realistic with asking prices which is directly reflected by the statistics above. Which is helping aide the road to recovery from out 27% drop in sales last quarter. We still have a long way to go...Whats your thought?
Make sure to come back on Thursday for the weekly market stats update and news report. Thanks for stopping by!
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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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