3 Sales in the upper $500,000 range in 3 weeks. St. Margaret's Bay has litterally taken off! Alot of demand for reasonably priced homes .It seems the average buying consumer has done the homework and has been following the trends of the last two years. The buyer is setting the trend for homes on the water everywhere. Unless you have a house that is brand new or totally renovated the buyers won't pay top dollar for just location anymore.
The average buyer seems to be from Calgary or "the western provinces" . They have had enough of the hectic lifestyle and are returning back to Nova Scotia at a frantic pace. The only thing slowing the arrival of these buyers is the current slowdown in the markets out there. I myself have 4 families trying to sell their homes in the Calgary area. The active listings in the city have increase 10 fold to about 9000!
Condos are the second choice and that seems to be fueling our condo market.
I hear that Calgary is experiencing a bit of a turn around so my outlook for the season is very good. I predict that everything will sell this year, after 2 years of "wait and see" mentallity . Except - of course ..... the homes on the water that are so overpriced that no buyer will touch them.
Land - I still see as a no brainer because the end product is new construction! A new home will fetch top dollar in todays market. You can still name your price in that small segment of today's market.
That's all for now!