House sales in April were down more than 25 per cent over 2008 levels,
but prices remained on the rise.
Linda Smardon, president of the Nova Scotia Association of Realtors,
said the average price for a home in Nova Scotia climbed to $206,668,
a 5.4 per cent increase over April 2008. The national average price
was down 3.2 per cent year-over-year.
Industry statistics say the average price in Halifax-Dartmouth rose by
six per cent. The biggest average increase, however, was in the
Annapolis Valley area, where prices rose by 15 per cent. On the South
Shore prices climbed 11 per cent.
"The pricing trends indicate that consumers still have confidence in
our housing market," Ms. Smardon said in a release.
New listings posted their fourth consecutive year-over-year decline in
April, down seven per cent from 2008 levels.
"We’re now seeing greater balance in the housing market than what we
have over the last while," she said. "The bridge between buyer demand
and housing supply is continuing to narrow, which helps maintain
stability in housing prices."
Active listings continue to rise in Nova Scotia, but year-over-year
gains are slowing as new listings trend lower.
Other findings in the report included:
•The total value of all sales for April was $187.6 million, down 24
per cent from a year earlier.
•Eight hundred and fifty-seven houses were sold during the month, 27
per cent fewer than in April 2008.
•The average price of a residential property was $206,668.
•There were 8,302 active residential listings in April
Average home prices for differing areas in April 2009 were:
•Annapolis Valley: $164,079
•Halifax: $245,412
•Cape Breton & Highlands: $104,264
•Northern Region: $110,448
•South Shore: $173,853
•Yarmouth: $77,700
Source: Nova Scotia Association of Realtors