The Canadian Real Estate Market as a whole has seen significant declines in both average price and number of sales in the last couple of months. In my last couple of market updates Halifax had seemed to weather that storm. I figured it would be a good time to take a look at where we stand compared to previous years in terms of average price and number of sales dating back to January 01/2007.
Below are the MLS stats for The Halifax Real Estate Market for areas 1-50 which encompasses all of HRM. Based on single family homes, condominiums and new construction.
The numbers above show a downward trend in average price, albeit a minimal one for the first time since I have been writing this blog. Is this a trend we may see in the next coming months? Only time will tell. The most telling number is the the decline in sales over the last 3 years. Although, in 2007 we had a record year for sales. But it is easy to see that a steady decline is happening.
In the coming months I am changing the look at feel of my blog. Please check back for regular updates. In the meantime if you are in the market to buy or sell a home in Halifax, Dartmouth and surrounding areas do not hesitate to contact me at andrew@halifaxrealestateguy.com or call 902-488-0012.
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Andrew Perkins
Your Halifax Real Estate Expert
