Have just finished a review of the market stats for Halifax Regional Municipality and the numbers show that the market is rebounding. When looking at July of 2009 compared to July of 2008 the number of new listings is up about 2.5% and the year to date shows a slight decline of 1.5%. The sales for the same time period show the monthly comparison to be down about 4.5%, with the year to date figure being down 14.63%. The percentage for the month and the year to date is less than it has been in previous months. The other good news is that the average sale prices in most MLS areas of HRM show an increase over the same time period as last year.
It is worthy to note that the outlying areas of HRM are showing less activity than a year ago and that in some areas the prices are slightly down from a year ago.
Consumers still need to be aware that the market has shifted to a more balanced market, and sellers need to be reminded that it is taking longer for properties to sell.