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Hello! I hope you're well and finding some time to enjoy the beautiful Christmas lights, festive entertainment, peace, great cheer and gratitude all over the province. This is one of my favorite times of year because it seems magically designed to encourage us to regroup, reflect and inhale all that is good. The shorter days definitely take some getting used to but I finally recently realized that shorter days mean longer bright lights! Speaking of regrouping... What a year it has been in our Nova Scotia world of real estate. Right across the province the overall volume of sales is up over 23% compared to this time last year and the median price is up just over 16%. In actual numbers that is 19421 firm MLS® sales to date across the province compared to 15,762 last year Jan 1 - Dec 14, 2020 equalling 3659 more sales in 2021. Remarkable for sure but not really a surprize. More people are certainly moving here yet the ongoing local demographic shifting is also fueling our sellers market with many Maritimers investing in their futures right here at home. So what is in store for next year? I recently heard a prediction that prices could increase another 17% but, in my opinion, I think we may be hitting our tipping point once the overall median price across the province reaches a 10% increase. (this assumes that interest rates don't increase dramatically) I also believe that our market will then begin to stabilize which, if history repeats itself, should result in more listing coming to market as sellers wanting to sell and buy can come forward with more confidence. Part of my reasoning is coming from the last few months of sold price data showing a fluctuation in the number of properties being sold over the list price. The percentage appears to be getting smaller except for in the high demand areas in various parts of HRM. Time will tell... Reflecting and inhaling all that is good... Thank you, thank you, thank yOu for your ongoing business, confidence, trust, support and referrals. I recognize that this has been a challenging year for buying clients, especially clients who have had to compete numerous times. Thank you for not giving up! I also appreciate that this continues to be a challenging time for selling clients trying to decide when is the best time to sell, especially retirement planning clients who have owned their investments for years. I understand that low interest rates are great for buyers but not necessarily for mature sellers. Thank you for your ongoing conversations! Merry Christmas and Happy New Year! May your next year be full of positive change, happiness, joy, stability and great new adventures! With Gratitude Always, ~ Michele
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