The housing market in Nova Scotia dwindled from September to November 2012, compared to 2011, according to data released by the Nova Scotia Association of Realtors (NSAR) through its Multiple Listing Service system.
Provincially, sales dropped by just under 12 per cent while listings increased by less than four per cent. Most regions were less active than the same three-month period last year keeping the average price of a home in Nova Scotia at affordable levels and well below the national average.
“While every market is local, most regions across the province have experienced the same lull,” says Wayne MacIntosh, President of NSAR. “This has been an expected slowdown, but some regions are seeing positive growth.”
The Annapolis Valley region, for example, has seen sales increase by 7.5 per cent while the average sale price fell slightly to $151,518. The Highland Region, on the other hand experienced fewer sales but, instead, had a boost in the average sale price thanks to the new economic opportunities in the area.
-Submitted by Nova Scotia Association of Realtors