The Condos in Halifax sales for January are in. The pending condo sales ratio to active listings
have never been higher. I've tracked the data for 3 years now and it's usually below
10% . It peaked last year at 11.5 %. 41 Pending sales / 260 actives = 15.7%!
The inventory is a bit low for this time of the year, but this is unprecedented! - Data date - Feb 05/12
The MLS(R) sales for homes is fairly healthy at 254 Homes sold in HRM (Halifax
Regional Municipality) . They are up marginally over last year.
I had a look at peninsular Halifax just to see if that made a difference but
that too remained even. All data from Condos Nova Scotia Blog
The interest in condos is real and it's been affecting Halifax since Mid- October
when they announced the Irving Shipyard Contract. At first we thought it was
just a spike in the data, but on-going condo in Halifax sales seem to tell the story!
Investors are scooping up $200,000 to $300,000 condos! The interest rates
are super low. People just wanting a safe place to put their money are making
close to 10% ROI on their money. When investors get to be a certain age
they get a bit more careful with their money.
Halifax has always been slow and steady ,but always going up. The rate was always
2 - 3 % every year. This was why during the global recession that occurred in 2007
2008 we never missed a beat!
In areas like Lakeside, Spryfield etc: the returns can be even higher but there are
no condominiums in those areas.
http://condosnovascotia.ca is the property of Stages Real Estate
Paul Viau is licensed to sell real estate in the Province of Nova Scotia.
Condos in Halifax
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