The real estate market in Nova Scotia can best be described as a
sellers market. Sellers in this market whose homes are priced competitively
and are in good condition will typically sell. "Bargains"
are still hard to find but the current prices reflect a fair price
for homes in the area. While "fair price" may be translated
as outrageous to people moving to Halifax the cost of a home today
is, in many cases, comparable to home costs in the late 1980's.
Real estate is and always has been a good long term investment in
Nova Scotia. During the late 1980's home prices escalated. Later we
saw prices stagnate in many neighborhoods with modest increases in
other neighborhoods. Prices now are increasing at a rate of between
4 and 7%. Many local economists are optimistic about our regional
economy and in the next couple years we should continue to see healthy
appreciation rates.
One of the services I offer my clients, is to analyze the market
and assist them in determining the best strategy for buying or selling
a home. If you are moving into or out of the area, give me a call
to discuss a plan of action to solve your housing needs.
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