Welcome to the monthly wrap up! Below you will find graphical analysis of our monthly market performance compared year to year. Sometimes good, sometimes bad...always interesting.
Average sale prices across Halifax remain strong. Following annual trend with a decent 4% increase, this area of the market has proven to be a reliable return each month. No huge market corrections to talk about, and nothing out of the ordinary to take into consideration. Some have debated this market factor has played a fairly large role with our lack of sales, stating that the bloated overvaluation of property has turned sellers off the current market inventory.
And there you have it, the continued record breaking inventory heights of the Halifax market. Just like the overall sales values, this statistic has become increasingly reliable and predictable in its direction. Each month reaches new heights, and each month adds an ever increasing stock to be waded through by property buyers. With an increase of around 6.5%, it would appear that the inventory stock has become a bit more than just "festively plump".
Not a great sales performance so far this year. This stat has become a bit less predictable than the others, with what appears to be bursts of activity in certain months. The back half of the year has enjoyed a bit of increased activity, with October outperforming the last two years. September enjoyed that kind of performance, so one can hope that we carry this momentum to the finish line of the market year, and continue strong. Although sales have been marginally better, they still don't appear to have enough weight to take the inventory down to acceptable heights, which is needed to balance the market. Thanks for stopping by!
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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 property transaction and get the most advanced real estate system working for you. Feel free to contact me with questions or comments. 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