Mixed Messages About Real Estate in Nova Scotia

Mixed Messages

I just apprehend an commodity in the Chronicle Herald which declared “Real Estate in Nova Scotia is traveling adjoin the civic trend as houses abide to acceleration in amount and advertise faster than the blow of the country.” (The explanation beneath the photo) Then in the aboriginal few paragraphs of the commodity I apprehend how homes sales are down beyond the province. Appealing Confusing to say the least. Actuality are the numbers from NSAR (Nova Scotia Association of Realtors) for this January.

Residential sales action recorded through the MLS® System of the Nova Scotia Association of REALTORS® numbered 450 units in January 2017. This was down 3% from the aforementioned ages endure year. January 2017 sales stood in band with the 5 -year boilerplate for the month.

Total sales action numbered 528 units in January 2017, about banausic (down 0.4% or two sales) from January 2016.

The boilerplate amount of homes awash in January 2017 belted down 1.3% from a year beforehand to $202,794.

New listings on the Association’s MLS® System numbered 1,215 units in January 2017, falling 10.9% from January levels recorded in 2016. This was the everyman January akin in over a decade.

There were 6,550 alive residential listings on the Association’s MLS® System at the end of January 2017, down 14.9% from the aforementioned time in 2016.

There were 14.6 months of account at the end of January, down from 16.6 months at the end of January 2016 and beneath the long-run boilerplate for this time of year. The amount of months of account is the amount of months it would yield to advertise accepted inventories at the accepted amount of sales activity.

The absolute dollar aggregate of all residential home sales was down 2.7% from a year beforehand to $101.3 million.

Nova Scotia Monthly Summary

January 2017 Residential Sales

Annapolis Valley 50 sales 0% change boilerplate amount $138,388 down -18.2%

Cape Breton 37 sales +23.3% change boilerplate amount $121,295 up +7.7%

Halifax-Dartmouth 234 sales -7.5% change boilerplate amount $265,237 up +0.3%

Highland Region 12 sales -33.3% change boilerplate amount $159,806 up +9.5%

Northern Nova Scotia 47 sales -19% change boilerplate amount $118,325 up +12.5%

South Shore 56 sales +47.4 % change boilerplate amount $160,608 up + 7.1%

Yarmouth 14 sales -17.6% change boilerplate amount $93,668 down -27.7%

Nova Scotia Absolute Sales 450 -3% change boilerplate amount $202,794 down -1.3%

So What do these numbers mean? This shows you the action and change from January 2016 to January 2017. Area prices are down and area they are up. Over all in the arena sales and prices are down slightly. The big change is the abridgement in account (Number of homes for sale) The apartment bazaar like any bazaar is accountable to accumulation and demand. Tight acclaim has had a actual abrogating appulse on Nova Scotia’s over all abridgement as acclaim changes accept adapted so abounding abeyant buyers to renters and individual ancestors home architecture has adjourned while assorted residential units are booming as rents in some areas accept angled in 5 years. So you can acknowledge your government (Both Conservative and Liberal) for accepting trapped as a bedfellow or adored as a landlord. What’s that adage the affluent get richer and the poor get poorer? These stats are just an adumbration of the bazaar and every association and acreage is different so yield it all with a atom of salt. The acceptable account is account is shrinking and that is absolute for home sellers (don’t alpha packing it’s still hit or absence affairs your house).

Spring is actuality with Robins and May Flowers so we’ve fabricated it through addition Nova Scotian winter. You do accept to adore how fair our government is with their behavior appealing abundant shafting aboriginal time home buyers by befitting them from owning their own homes but absolution them buy a $50,000 barter with annihilation down financed over 8 years while blame the anxiety out from beneath the babyish boomers who wish to down admeasurement and retire by eliminating a lot of of the home buyers. No age bigotry there!! Oh able-bodied Kevin (Trump) O’Leary will get us aback on track! Is the apple traveling crazy or am I just accepting old and senile?

Have a abundant bounce and don’t worry! Remember anguish is like a agitation chair! It doesn’t get you any where!

Happy Spring!!

Larry