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Following the annual trend, the residential inventory continues to decrease in size as we head towards the coldest time of year both weather and market wise. The stat does however remain lower then normal with only 2007 beating it out.
Average sold price values remain the strongest they have ever been and without jinxing it, only 2 months remain for this stat to achieve a clean sweep! A good $5,000 bump over last years value but no comparison to the $56,000 gain that we have made in the last six years.
Finally! Some good news to report on in this category. Sales this month made a nice little comeback and actually beat out one of the better sales years! Not saying you should expect this trend to continue but its a nice change from the usual performance report.
So once again our market takes an unexpected turn. Just when you though "Ol reliable" was going to go softly into the night (more so the winter) , it rebounds back with some pretty impressive force. Sales are up, inventory remains low and values are at record highs. Its still a great time to buy or sell and as a matter of fact we may be experiencing a little boom market flow with the Christmas push. Not much to choose from in some areas of the Halifax Regional Municipality but thats not stopping buyers from buying and it certainly should encourage some sellers to sell! The weekly stats have remained rather consistent and the only declining stat over the long term has been the residential inventory, but that won't last long as the annual ebb and flow of the market insists on a bloated inventory in the springtime market. If I was considering listing my home I would have to take in account the current market factors and how they will change in the spring market. Whats your thoughts? If you had a choice of when you could list your home would you prefer a low inventory, end of year market or a high inventory spring market. Thanks for stopping by! The halifax real estate blog weekly market statistic and news report is below or click HERE for the latest blog post.
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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