IS IT A BEAUTIFUL DAY TO SELL OR BUY IN YOUR NEIGHBORHOOD?

The first half of the year saw a decrease in home sales in Nova Scotia...

Gary Mailman, new president of the Nova Scotia Association of REALTORS® had a lot to say about the Nova Scotia housing market to the Burnside News on July 24th, 2013. The decrease from january to June , 2013 shouldn't shock anyone because the rush between March and May was an atypical event created by the announcement of the newly awarded ship building contracts:

"The first half of the year saw a decrease in home sales in Nova Scotia as compared to the first half of 2012. The Nova Scotia Association of REALTORS®' (NSAR) statistics from their Multiple Listing Service® System shows a 17.7 per cent decrease in sales from January to June 2013 as compared to the same period in 2012.

Provincially, Nova Scotia has seen a 0.5 per cent increase in listings for the period. The average sale price of homes in Nova Scotia has shown a slight 2.7 per cent decrease to $220,643. The Halifax-Dartmouth region had a 23.4 per cent decrease in sales while the Highland region's sales increased by a healthy 10.9 per cent.

"While we report on numbers averaged out across the province over a period of time, it's important for buyers and sellers to understand that every market is local – right down to the streets, subdivisions or neighourborhoods in a particular area," says NSAR President Gary Mailman. "Too many times, people make assumptions – and therefore, decisions – on real estate based on national or provincial numbers, when the most pertinent information should come from the communities they're looking to buy or sell in at that time."

Because realtors have access to sales information and history in all areas and can narrow it down to very specific locations, the NSAR encourages buyers and sellers to contact a realtor early in the home buying or selling process.

"Realtors will not only inform you about the market in a specific area to help you make the right decision, they'll also help you prepare for the costs of selling or purchasing a home, as well as the true costs of homeownership," Mailman adds. "Realtors provide so much more value than simply completing transactions, yet there are still people who don't engage with a realtor until they've already made important real estate decisions."


 

    
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Ventura Realty Ltd. Halifax, Nova Scotia Canada