Happy New Year everyone. I hope your Christmas break allowed you a chance for a bit of rest and relaxation and visits with family and friends.
We just received our year end report from the GMRGM Board and they are really solid. Our sales volume was up 8% for the year, the number of units were up 3% and the average sale price is now $172,612, a 3.7 % increase which is very good for this area. Sales to listing ratios were up by 2% over last year as well.
It's good to see some commercial building progesssing around the city with one of the big projects on Mapleton Rd. beginning again. That was put on hold a couple of years ago when the US retail sector imploded and it looks like the initial phases are moving again. Our vacancy rate for commercial property saw a reduction this year which is welcome as well.
The US is enjoying a very modest growth and certainly is still fragile. We don't know how the Euro-zone is going to play out but locally things continue to be okay. The growth in the energy sector, trucking, the Government ship building contracts and more is beginning to put more people to work in the area and all that money spinning through the economies of Atlantic Canada helps us all.
I wish everyone a great 2012 and we'll all hope that the Mayans just ran out of stone to carve anymore calander and the world won't actually end on December 21st!