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.

House Prices

2009-05-22 12:08:22

No housing market crash in this part of the country.   Average house prices on the south shore are at a record high according to the Nova Scotia Association of Realtors.  In April the average residential price was just under 207-thousand dollars - a five-point-four percent increase over last year.  The national average was down 3-point-2 percent.  Residential properties on the south shore went up by 11 percent, second only to the Valley Region where prices were 15 percent higher.  The Association says the number and value of sales were down in April compared to last year and new listings were also down for the fourth consecutive year-over-year.  President of the Nova Scotia Association of Realtors says the bridge between buyer demand and housing supply is continuing to narrow. Linda Smardon says that helps maintain stability in housing prices.   The average house price in the South Shore Region is $173,853.