Halifax Residential Inventory March 2013
Looks like we have an average addition to the inventory this month. The slow climb continues its upward momentum as we approach the peak months for inflated inventory stats. Nothing out of the ordinary here.
Halifax Residential Average Sold Price
Sale prices made a solid recovery this month taking back top spot overall. Coming in at just over the $270 mark, the value spread from five years ago is $50k. That means on average, homes five years ago where selling for $50,000 less then what they are selling for today. Thats a 10% annual gain average.
Halifax Residential Sales March 2013
Looks like we have another record breaking sales month, not in a good way. Sales have hit the decade low slump yet again this month for the second time since December 20. We are yet to break from this dismal sales performance since this time last year. Lots of speculation and guessing but thats all it is. The stats that I report are strictly from the Realtor® side of the MLS (Multiple Listing Service) and do not take into consideration private sales or companies that do not trade on the MLS. That being said, I can't imagine that percentage would influence these reports to the point of reversing the slump. Just to hammer the point home, in March of 2007 there was 693 sales. Thats a difference of 332, almost twice as much as this month! Things should start to move with the warmer weather and seasonal trend, but at this rate we are looking at a repeat of last year. Whats your thoughts on the Halifax sales slump?
Make sure to come back Thursday for the weekly stat wrap up and market report (every Thursday)
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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