| Last updated at 9:37 AM on 25/09/09 |
Nova Scotia’s real estate market looking up 
BURNSIDE
NOVA SCOTIA ASSOCIATION OF REALTORS
The Burnside News
According to the Nova Scotia Association of Realtors®, the average price for MLS® home sales from May to July was $202,676, up five per cent over the same three months in 2008.
A total of 3,492 homes were sold through the MLS System in Nova Scotia from May to July 2009, down nine per cent from one year earlier. The dollar value of these home sales totalled $707.7 million during the period, a decline of 5.2 per cent year-over-year.
This compares favourably to earlier figures released by the Association, which showed double digit year-over-year decreases in both units sold and total value of sales. The president of the Association says that things appear to be looking up.
“We’re seeing that the year-over-year decreases in the number and value of sales are consistently getting smaller. If we look at the month of June alone, Nova Scotia actually saw in increase in the number of sales as compared to June of 2008,” says Linda Smardon. “On top of that, sellers and buyers continue to be reassured by the strength of housing prices in almost all regions of the province.”
Average prices from May to July 2009 in regions across the Province:
| Region |
Average Price: May-July 2009 |
Compared to May-July 2008 |
| Cape Breton |
$113,486 |
Up 1.4% |
| Halifax-Dartmouth |
$241,600 |
Up 3.5% |
| Highland Region |
$143,366 |
Up 9.2% |
| Northern Region |
$122,058 |
Up 4.9% |
| South Shore |
$156,216 |
Up 4.9% |
| Yarmouth |
$122,848 |
Down 0.9% |
| Annapolis Valley |
$153,456 |
Up 2.3% |
| Provincial |
$202,676 |
Up 5% |
To add more balance to the market, new residential listings on the MLS system were down 6.9 per cent from the same three months last year, at 7,542 units.
In Halifax-Dartmouth, there were 2,160 MLS home sales from May to July, a decrease of 6.2 per cent from the previous year. The total value of sales was 521.9 million, down three per cent year-over-year.
In the area covered by the Annapolis Valley Real Estate Board, there were 466 MLS home sales from May to July. The total value of these home sales amounted to $71.5 million, a 5.5 per cent decline from the dollar volume of one year earlier.
The Nova Scotia Association of REALTORS, from its Burnside headquarters, represents more than 1,600 brokers, salespeople and affiliate members (e.g. solicitors, appraisers, banks) throughout the province. NSAR serves its members through a wide variety of educational programs, publications and special services. The association, through an agreement with the Nova Scotia Real Estate Commission, provides all real estate licensing courses in the province.
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