Real Estate Trends in Dartmouth

Dartmouth was the second-largest city in Nova Scotia before it was amalgamated into the Halifax Regional Municipality. Combined with adjacent areas such as Cole Harbour, Eastern Passage, Lawrencetown and Lake Echo, Dartmouth is home to more than 70,000 people. Nicknamed the ‘City of Lakes’, Dartmouth has 23 lakes that are Types Of Residential Investment Properties great for windsurfing, kayaking, canoeing and swimming – as well as skating and ice hockey in winter. The city is a recreation lover’s dream, with five freshwater beaches, summer parades, concerts and fireworks, two huge shopping malls, many parks and trails, indoor aquatic centres, competitive canoeing and much more.
So what will it set you back to live in Dartmouth, Nova Scotia? Housing prices range from the low $100’s for a condo apartment, to the mid-$300’s for a detached four or five bedroom home; but homes can be found at any point in between, averaging in the low $200’s – making Dartmouth a supremely affordable, vibrant metropolis in which to live. The question is, will it stay that way?
While Nova Scotia’s market is currently still leaning towards a buyer’s market, the new residential listings on the MLS® system continue to decline – so there is less available inventory for buyers who wish to put down roots in the Dartmouth area. Overall, Nova Scotia’s real estate market in 2009 ended with single digit decreases in both sales and listings, while average price showed an increase of 3.9% when compared to 2008. Because Dartmouth housing prices are already so affordable, that 3.9% jump should cause no great hardship for the interested buyer.
Further promoting the idea that it’s a buyer’s market, the Nova Scotia Association of REALTORS® (NSAR) reported that the number of residential units sold through the Multiple Listing Service® was down 7.7% in 2009 because buyers were nervous about Mobile Home Purchase Agreement whether to enter the real estate market based on the economy. Though confidence in the economy is building again, which indicates a brighter 2010 for the real estate market, it looks like buyers still have the upper hand in Dartmouth real estate.

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