Nova Scotia’s real estate market & latest MLS® statistics

Published 18 February 12 11:13 AM | Merv Edinger 

Nova Scotia’s real estate market & latest MLS® statistics     mls listing - remax nova - halifax homes for sale    

When considering buying or selling a home, often the most expensive transaction many of us will make in our lives, it is important to have the facts. We, of Merv Edinger & Associates of Re/Max Nova would like to share with you the most recent MLS® statistics regarding our marketplace. For homes available for sale or to discuss what your options are when selling your home, please feel free to contact us at ( 902 )497-1217 & visit our website at http://www.MervEdinger.com.

Nova Scotia’s real estate market sees positive gains in 2011

January 20, 2012 – Nova Scotia: The average sale price of homes sold in Nova Scotia made modest but healthy gains provincially, as reported by the Nova Scotia Association of REALTORS® in year-end statistics from its Multiple Listing Service® (MLS®) System. The average sale price rose 3.5 per cent in 2011 as compared to 2010. Sales were also up 2.8 per cent, and listings increased by 4.1 per cent.

“While each region has faced its own unique challenges, collectively the provincial housing market benefited from a fair year overall,” says Rob Faulkner, NSAR President. “Modest gains in sales and selling prices helped to keep Nova Scotia’s economy growing at a sustainable pace.”

The economic spin-off generated from MLS® activity totaled $295 million in Nova Scotia between 2008 and 2010. This momentum continued in 2011, with most regions in Nova Scotia experiencing gains in the average sale price of homes sold to reach an average price of $210,514 provincially.

“Working with a REALTOR® has aided Nova Scotia homeowners to secure healthy returns on their home investment,” says Faulkner. “REALTORS® continue to contribute industry knowledge and expertise that is reflective of the communities in which they live and work.”

Only two regions experienced a decrease in sales in 2010, and only one had a decrease in average sale price. The Annapolis Valley region encountered a drop in sales of 4.4 per cent, with a slight decrease of one per cent in the average sale price. The Highland region’s sold 3.7 per cent fewer homes, with an increase of 8.3 per cent in the average sales price. Decreases may quickly turn around as communities that were facing what appeared to be a bleak year in 2012 now have reason to be optimistic. The Highland Region, for instance, is entertaining prospective offers that will keep the former New Page paper mill in operation and retain local jobs.

Residential MLS® sales and listings from January to December 2010 in regions across the province:

SALES

LISTINGS

Region

2010

2011

% Change

.

2010

2011

% Change

Cape Breton

580

603

4.0%

1,426

1,587

11.3%

Halifax-Dartmouth

5,892

6,083

3.2%

12,253

12,297

0.4%

Highland Region

270

260

-3.7%

921

1,050

14.0%

Northern Region

1,094

1,122

2.6%

2,714

3,044

12.2%

South Shore

817

895

9.5%

2,871

3,020

5.2%

Yarmouth

162

193

19.1%

532

595

11.8%

Annapolis Valley

1,307

1,250

-4.4%

3,333

3,452

3.6%

Provincial

10,122

10,406

2.8%

24,050

25,045

4.1%

Average prices from January to December 2011 in regions across the province:

Region

AVERAGE PRICE: 2011

Compared to 2010

Cape Breton

$122,664

4.7%

Halifax-Dartmouth

$257,880

3.4%

Highland Region

$136,960

8.3%

Northern Region

$124,334

2.8%

South Shore

$174,785

7.8%

Yarmouth

$116,053

7.1%

Annapolis Valley

$155,219

-1.0%

Provincial

$210,514

3.5%

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®). Please note that effective June 1, 2009, data for this report is now provided on a three-month basis and includes only single-family residential listings. The Nova Scotia Association of REALTORS® represents more than 1,700 brokers, salespeople and affiliate (e.g. solicitors, appraisers, banks) members throughout the province.

Merv Edinger & Associates

Associate broker

remax nova - halifax real estate

http://www.MervEdinger.com

remax nova halifax homes for sale

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