Inventory made a good dash to catch previous year lows but still ended up shy of the mark. Good gains of over 500 listings each week but still didn't add very much to the "peak inventory month." As reported on the weekly recap, Inventory hit a reversal and shaved over 50 listings off of the already low number.
Sales this month continued its mediocre showing with another third place showing over the last 6 years. Volume of sales did increase but not coinciding with type of market that is being shared by other stats. If this stat did however perform like the others, we could have a problem on our hands...
Highest average sold price! another record breaker this month coming in at just over the 275k mark. January was the closest month and this month surpassed the last year by 14k! Great news for people selling at this time. If the values go any higher I'm going to have to change the values on my chart!
So this week we broke the record of average sold price for the week (over 300k) and the average sold price. Times continue to fascinate and challenge even the most seasoned real estate speculator. As availability is still at a premium in sections of the city, multiple offers becoming the norm and values at an all time high. It is imperative that anyone giving purchase and sale advise to anyone is completely informed about the Halifax real estate market. If someone hasn't followed along with what has been happening since the "ship building" announcement, they would have no idea about the changes in the market and mainly the values that are placed on properties today. That mistake could cost you thousands of dollars! By coming here you are taking a step in the right direction by becoming informed, asking questions and getting answers. Education is the key to success and you should have all the tools at hand when making such a large decision. After presenting my business offering to a now client of my she hit the nail on the head of how I want to be portrayed in this business "Your an advisor, not a salesman, and you seem to always have your clients best intentions in mind", I smiled and said "thank you".
Scroll down to see the weekly Halifax real estate wrap up (every thursday). Make sure to follow me on twitter (@halifaxrealest) Like me on Facebook and check out my pics on instagram (@halifaxrealtor). Feel free to leave a public comment below or CONTACT ME for any personal inquiries. Want to know what your home is worth in todays market? Click HERE to fill out my free appraisal and find out.
Jeremiah Wallace, CD
Jeremiah 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..
Photo's by Jeremiah