Halifax home sales values remain strong
So I will start the report with the positive, sale prices are holding steady and the value remains plus of all previous years in June. There is also a negative side to the value report, without the adjustment of this figure inventory will remain where it is and sales will continue to suffer.
Record breaking inventory in June
RECORD BREAKER ALERT! Here is is folks, we have reached an all time high residential inventory level. The record wasn't shattered by any means but the year that was closest also had a great sales year to compensate. We are not so fortunate with our sales figures this year...
Sales to an all new low in June
Speaking of sales...Hoping for a rebound or at least a plateau? June hit the skids and tapped out early causing the lowest June sales month in over 14 years. Still lots of activity around and whether its from market ignorance, turning a blind eye or receiving poor advice I would encourage anyone thinking of selling to research and ask the right questions. Do I have to sell right now? Am I being realistic with my asking price given the market? Whats my competition doing and how is my representative making me visible and competitive? I have pretty much blogged the entire month of June about sellers situations and market acceptance, factors and information if you find yourself in this type of market. There is nothing more unsettling then facing unprepared or unrealistic sellers with buyers that have done their homework, asked the right questions and got the right representation. And in this market its all too easy to just move along to the neighbour down the street that is prepared to deal with these market conditions. If your a seller reading this blog, I would place you in the second category. We all hope that any investment that we make in life will pay us back with interest, but the long and short of it is many home sellers are settling on the idea they may break even, but losing right now is more of a reality. 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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone.
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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