Nova Scotia House Prices Remained Strong in First Quarter of 2011
April 20, 2011 – Nova Scotia: The Nova Scotia Association of REALTORS® reports that the average price of homes in Nova Scotia stayed strong in the first quarter of 2011, moving up three per cent from last year to $211,418. This is great news to sellers who plan to list in the next few months.
The number of residential properties sold through the Nova Scotia Association of REALTORS®’ Multiple Listing Service® (MLS®) System in the first quarter of 2011 was down 6.2 per cent as compared the first quarter in 2010; however listings were also down 4.4 per cent, indicating a natural balance of supply versus demand.
Cape Breton reported 100 Residential MLS® sales in the first quarter of 2011 compared to 102 for the same period in 2010. This represents a -2.0% change. There were 292 Listings for this same period compared to 310 in 2010 representing a -5.8% change. Province-wide there were 1923 Residential MLS® sales for the first quarter compared to 2051 sales for 2010 an - 6.2% decrease. There were 5,750 listings compared to 6,014 in 2010 a -4.4% decrease.
The average prices in the first quarter of 2011 in Cape Breton is $116,301, 19.2% above last year’s ;average price for the same period. The Provincial average was $211,418 up 3.0% over the same period last year.
Posted by Robert Doucette
on April 22, 2011