HAPPY NEW YEAR EVERYONE!!
Halifax Residential Average Sold Price For December 2012
Almost made a clean sweep this year with average sale prices...almost. Other then the December value drop, the remainder of the year held annual trend by slightly surpassing the previous years values. The overall value increase has stayed marginal ranging anywhere from 0.9 to 11%.
Halifax Residential Inventory For December 2012
Inventory never really fully recovered from the impact of the final months of 2011. After the Irving shipbuilding contract was announced there was a noticeable spike in activity which caused the lowest numbers in years!
Halifax Residential Sales For December 2012
What do we say about sales this year? Not easy to predict? Not really the anticipated outcome? Slow? All these things and more have painted the "Sales" canvas this year with December putting the final nail in the annual coffin with the lowest amount of sales not only for the year, but every month and year for over a decade. Not really the type of sales year you would expect in the wake of such a large announcement to the economic boost of our city, but an announcement is all that there was. Details of the contract are still being worked out and work start dates are yet to be announced. That combined with lower then usual inventory selection, higher property prices and the brilliant mortgage rules changes pushed many in the "entry level/first time home buyers" bracket out of the market. These factors, as well as many others, have been instrumental in the demand and lack of availability in the rental market.
The Halifax real estate market had interesting developments this year and it was almost as if 2012 was the deep breath before a dive. I think this year is going to be just as interesting as the last and I predict that by the end of the year we should be seeing the impact of a new market. Whats your thoughts? Make sure to come back Thursday for the weekly wrap up and the Multi-Residential report for December will be released shortly as well.
Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary property appraisal or you can Contact me to 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 and friend me on Facebook :)
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah