October 19, 2010 – Nova Scotia: Residential real estate activity continued to show slower activity moving into the fall. The Nova Scotia Association of REALTORS®’ (NSAR) reported that residential listings sold through NSAR’s Multiple Listing Service® (MLS®) System from July to September 2010 were down 14.6 per cent when compared to the same three months in 2009. The number of listings placed on NSAR’s MLS® System dropped 4.7 per cent.
“In a slower market, and especially at this time of year, some people may be reluctant to put or keep the for sale sign on the lawn. It’s important to understand all of the factors and not be discouraged from listing your home just because of the current sales numbers,” says Karen Edwards, President of the Nova Scotia Association of REALTORS®. “People buy homes at any time of year, in any market. A real estate agent will help you prepare your home for sale and set an effective pricing and marketing strategy to make your house appealing to buyers regardless of the market or weather.”
While things might be slower in the real estate market, Nova Scotia’s slow and steady average price increases continued, moving up 1.8 per cent from July to September this year. "That helps give sellers more confidence in listing their home," Edwards notes.
“If you’re debating whether or not to sell this fall, talk to a real estate agent in your area. He or she can give you valuable information about the market in your area, trends and statistics to demonstrate your options and help you choose the best one for your specific needs.”