The chart attached below reflects single family sales in HRM annually and year to date since 2015. The chart indicates that from 2015 to early 2018 we were in a Buyer’s market. The market started to slowly move to a more balanced market during 2018. The 4.2 months of inventory during 2019 was a full blown Seller’s market and then Covid was gasoline on the fire.
From a low in 2021 we are creeping back towards a more balanced market although we still require a 16% increase in listings to get too balanced. Until we get too balanced it is predictable that home prices will skew higher for the next 12-18 months however the peak could be close.
Starting to plan to sell your home can start now with a free no commitment visit by one of our realtors to assist you in preparing. This might include the most important tip, avoiding spending money on changes that will not get you a higher price for your home.
