 Halifax real estate average selling price April was an interesting real estate month. Seems to be getting harder to predict the market trend from month to month lately. For the second time this year the average sale price of Halifax homes dipped below previous years values. May be an indicator of the continuing correction.  Halifax real estate inventory Well, we expected a jump in the inventory for this time of year but April numbers blasted off! From third highest inventory reported in over a decade to second spot, this months skyward inventory climb is on pace to take top dog!  Halifax real estate sales 2013 Another thing we finally experienced in April was a sales rebound. Not a great start to the year, especially last month, but April caught up to the rear of the pack with a good sales performance. Hopefully this momentum carries on! Lots of good activity starting to buzz around town. House hunting trips are in full swing for military and other relocation folks, good attendance reports at open houses and general inquires are up %100 (feels like it anyways). Still quite a few overpriced units on the market right now so if you have been trying to sell for a while now (over 8 weeks) and your viewings are becoming less frequent, it may be time to re-evaluate the market situation. How are neighbours reacting to the market correction? Am I the most expensive home on the block/neighbourhood? Is my marketing effective? How does my house present...maybe I should consider staging. I have seen many listings this week that are not getting the proper advice on which direction to go with a market that changes weekly. And as the prime season begins you may just find yourself beat out by the 5,060 other listings currently for sale. Not having a plan for the long term is a recipe for disappointment, stress and ultimately a stale listing. Thanks for stopping by! Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!
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 comparative market analysis 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 :) Please note that these opinions and comments are solely mine and mine alone. Newest blog post HERE
2 Comments
Jake
5/15/2013 11:24:42 am
Great post and great advice. Sellers have got to be realistic. Pricing 5% below similar properties and marketing well will improve the chance of signing a deal. I stand by my prediction of a 20-25% drop in prices for the HRM over the next 2-3 years. That's a best case scenario. If the shipbuilding contracts continue to waiver it's anyone's guess. When people do not have to pay so much for homes, they'll have more money to spread around the local economy. A return to more reasonable prices will cause some temporary pain but will be good for the region in the long run.
Jeremiah Wallace
5/15/2013 11:45:15 am
Thanks for the post! The future of the market does seem quite uncertain at the moment. A conservative and educated approach is always best in this circumstance. Your comment will be posted after it is approved.
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Jeremiah Wallace, CDJeremiah 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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