| Residential sales activity rose strongly on a year-over-year basis in the first quarter of 2010 in the area served by the Nova Scotia Association of REALTORS�.
Residential property sales were up 22 per cent from year-ago levels to 1,826 units in the first quarter. The jump was a result of year-over-year increases in all three months of the quarter, with particularly large gains in January and March.
Detached home sales rose 20 per cent year-over-year to 1,256 units in the first quarter of 2010, the second consecutive increase. Detached home sales activity was up in all areas except the Highland region in the first quarter.
The number of active listings declined from year-ago levels in the first quarter, the second consecutive drop in listings. Lower inventories and an increase in demand resulted in a tighter market for detached homes relative to a year earlier.
With a tighter market for detached homes, homebuyers took less time to shop than they had one year earlier.
The median sale price for detached homes rose 13 per cent from a year earlier to $212,000 in the first quarter of 2010. This is the second highest median price on record.
The median sale price was up the most in the South Shore region, rising 34 per cent to $154,000.
Median prices were also up from year-ago levels in the Halifax-Dartmouth ($252,750) and Northern Nova Scotia ($110,000) regions. This was a new record for Halifax-Dartmouth.
The median price was down year-over-year to $84,250 in Cape Breton, and declined in the Highland area to $129,950
Terri Brewer
Catherine E. Harvey Realties Ltd.
Baddeck, NS
902 295 2364 ph, 902 295 3019 fax
www.harveyrealties.com |