Hey Nova Scotians! The latest housing market report is in, and July 2024 has been an exciting month for real estate across our beautiful province. Here’s a friendly breakdown of what's happening in our housing market:

Home Sales are Booming

Great news for sellers! Home sales are up by 12.2% compared to last year. A total of 1,150 homes found new owners this July. Whether you're buying or selling, the market is buzzing with activity.

More Homes on the Market

If you're house hunting, you're in luck! There’s been a 19.9% increase in new listings this month, with 1,758 homes added to the market. This means more choices and opportunities to find your dream home.

How Prices are Changing Across the Regions

Let’s take a closer look at how home prices are shifting in different areas:

  • Cape Breton: Home prices here jumped by an impressive 24.7%! If you own property in Cape Breton, it’s a great time to see such a value increase.
  • Highland: Prices in the Highland region went up by 11.3%. Steady growth makes this area even more attractive.
  • Northern: The Northern region saw a 4.5% increase, showing positive, steady growth.
  • Halifax & Area: In Halifax, prices rose slightly by 0.5%. Not a huge change, but still a positive trend.
  • Annapolis Valley: Prices here grew by 9.1%, reflecting a healthy market.
  • South Shore: The South Shore had a bit of a dip, with prices dropping by 6.8%. It’s a unique trend compared to the rest of the province.
  • Yarmouth: Yarmouth is on fire with a whopping 29.7% increase in home prices! A fantastic gain for property owners in this region.

Overall Market Performance

Across Nova Scotia, the average price of homes sold in July 2024 was $454,376. That’s a 4.4% increase from last July. It’s great to see the value of homes appreciating steadily.

Wrapping Up

In summary, July 2024 has been an exciting month for the Nova Scotia housing market. Whether you're looking to buy or sell, the market is dynamic and full of opportunities. Cape Breton and Yarmouth are leading the way in price growth, while the South Shore is seeing some adjustments.

So, if you're thinking about making a move, now might be the perfect time to dive into the vibrant world of Nova Scotia real estate. Happy house hunting and selling!

 

Thank you for reading! Stay tuned for more updates and insights on the Nova Scotia housing market. If you found this post helpful, please share it with your friends and family.