Let’s compare the market from 2012 to 2011. Here are some interesting yet not surprising year-end stats (Source: Annapolis Valley Real Estate Board).
Average sale price, 2011: $163,161
Average sale price, 2012: $165,607 (1.5% increase)
Sales to listing ratio, 2011: 38%
Sales to listing ratio, 2012: 41% (3% improvement)
Total number of properties listed, 2011: 2,972
Total number of properties listed, 2012: 3,032 (2% increase)
For the most part, these numbers are on trend. Here in the Annapolis Valley we enjoy predictability: slow yet steady growth, year over year. We have largely avoided the pitfall of market “bubbles” and uncontrollable growth, making real estate a fairly stable investment. The list to sale ratios still suggest that we are in a buyer’s market.
If you feel like it might be time to take advantage of historically low interest rates, please give me a call. I’d be happy to discuss a specific property you might have in mind and share my thoughts on its viability from an investment perspective.