Halifax Home Sales Have Been Slow (Here’s Why)

by steve on July 23, 2013

halifax home sales down

If you live in the Halifax, Nova Scotia region and you’ve been trying to sell your house, condo, or property, chances are your MLS listing has been active for quite some time.

And chances are you’re a little frustrated, wondering what’s taking so long. Ok, so that might be an understatement—you’re probably a whole lot frustrated. But you’re not alone.

According to a recent report by the Canada Mortgage and Housing Corporation, home sales in the Halifax area have been “fairly weak”. Most likely due to socio-economic factors affecting demand for housing: population growth is at 1% per year and employment levels have been “flat in the past year”.

They’ve noted that the pace of MLS sales slowed toward the end of 2012, into 2013, and were down by 31% by the end of this year’s first quarter.

Meanwhile, home prices in Halifax continue to rise. The CMHC says the average price of an existing home in the Halifax region climbed from $251,116 in 2010 to $273,896 at the end of the first quarter 2013.

Have a look at this article by HalifaxNewsNet for more information.

Shopping for a house, condo, or property in Halifax, Nova Scotia? Steve Ritchie is a REALTOR® with Keller Williams Realty. He’ll help you search for Halifax real estate on the MLS ® and other star systems.

Call Steve today at 902-440-0552!

Photo credit: thestar.com

Leave a Comment

Previous post:

Next post: