Today I am going to look at the average price in the Halifax Real Estate Market for the last 8 years dating back to 2000. This should give you an idea of how the Halifax Real Estate market has fared over the years and where is it headed in the future.
|
Halifax Real Estate |
Average Price |
Number of Sales |
% Price Change |
|
|
|
|
|
|
2000 |
$120,161 |
5843 |
|
|
2001 |
$127,337 |
6484 |
+5.6% |
|
2002 |
$142,034 |
6943 |
+10.3% |
|
2003 |
$156,539 |
6424 |
+9.2% |
|
2004 |
$167,720 |
6777 |
+6.7% |
|
2005 |
$181,560 |
6925 |
+7.6% |
|
2006 |
$194,150 |
6679 |
+6.5% |
|
2007 |
$207,198 |
7493 |
+6.3% |
|
2008 |
$221,737 |
6039 |
+6.6% |
|
Totals |
|
59,607 |
+7.3 |
Source: MLS data
The Halifax Real Estate market has had a very steady rise in price since the turn of the century. The number of sales has remained relatively the same over that period. This year we are on pace to be slightly behind last year’s numbers which were a record. I do see this trend slowing a little in the future due to the financial turmoil in the world markets, however I think Halifax will still remain as one of the healthiest Real Estate Markets in Canada. Some of the factors that I feel gives the Halifax Real Estate Market such promise are;
1) Gateway port
2) Military/Navy
3) University city
4) Hub for Atlantic Canada
5) IT sector
When I say that the market is going to slow I am referencing the number of sales. I do not see prices going down in the foreseeable future. Now is not the time to wait for that to happen in Halifax. The prices here are far below other cities in Canada and have a lot of room to grow.
If you are in the market to buy or sell Halifax Real Estate do not hesitate to contact me.
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Andrew Perkins
Your Halifax Real Estate Expert
