Real Estate Growth

Real Estate prices on the south shore don't seem to be negatively affected by the current economic challenges. The Nova Scotia Association of REALTORS® says the average price for MLS® home sales from May to July was up 5% over the same three months in 2008. The average single family dwelling in the province sold for $202,676. The south shore saw average prices go up by 4.9 percent to $156,216. Yarmouth saw the only decrease, dropping 0.9% to $122,848 and Highland went up the most, 9.2% to $143,366. A total of 3492 homes sold through the MLS® System in Nova Scotia from May to July 2009, down 9 per cent from one year earlier. The dollar value of these home sales totalled $707.7 million during the period, a decline of 5.2 per cent year-over-year. Interest rates are at historic lows and there's been no sign of any significant increases on the horizon.