Halifax/Dartmouth Real Estate Market

I just checked the April real estate stats and things are still pretty quiet. Urban Halifax/Dartmouth sales are down from a 104 last year to 86 in April of this year. As usual, the price went up a tiny little bit; from an average of $353,906 to $ 354,374. In other words, prices have not changed. Breaking it down a bit; condo sales were 31 units in April 2012 and 29 units this year with the average price going down from $ 312,000 to $ 304,500 this year. Single family homes sales dropped substantially from 71 in 2012 to only 55 in April 2013. Average prices? 2012 – $371,000, 2013 – $380,000. I really don’t see prices going down in the urban core anytime soon – at least not until interest rates take a big jump and then we might see some downward movement. I’m not so sure about the more suburban areas. In the urban core they’re not building an more, whereas there is a ton of new costruction in many of the outlying areas. I guess if the HRM administration can’t – or won’t – curb rampant urban sprawl, the market will step in and do their job for them. Oops! I feel a rant coming on. I will save it for the next post.