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Yesterday, I commented on sales trends and statistics for Dartmouth, Cole Harbour, and Eastern Passage. I will finish off today with Sackville and the Fall River area focusing on single family detached homes.

Key indicators for any Real Estate market are:

• Price Trends: the direction where housing prices are going.
• Absorption Rates: the number of weeks a house can be expected to remain on the market based on the previous months sales. This is a very strong indicator in determining if a current market is a “Buyer’s market” or a ”Seller’s market”.

Below are price and absorption rates for single detached homes:

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Good gains in the price of single family homes can be seen over the past 12 months. What is surprising is the level of  Buyer’s market status those areas are currently experiencing. If you are selling or planning to sell your home located in the Beaverbank, Upper Sackville or Fall River area, you should be prepared for your home to spend a lengthy amount of time on the market. I do not think prices will start to decline, however, I am not expecting any increases over the next 6 months. The Sackville area is also a  Buyer’s market right now, but I would say it is only slighly weighted  in favor of the buyer.

As always, I can be contacted by e-mail: bruce@listhalifax.com or cell: 497-6865.

Cheers,

Bruce Annis, Halifax REALTOR®

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