MLS^®  sales fell last month by 13 per cent compared to August 2007 with every submarket of HRM posting a decline in sales with the exception of Sackville, which posted a ten per cent increase in sales compared to August 2007.  The highest decline in sales was in Fall River - Beaver Bank which saw almost 50 per cent fewer sales last month compared to August last year followed by Halifax City with 22 per cent fewer sales. 

On a year-to-date basis, sales of existing homes trail last year's levels by 7.5 per cent and only Dartmouth City has seen an increase in sales with 1336 compared to 1309 last year.  Despite the decline in sales las year,    MLS^®  sales through August are the second highest level of sales on record next to only last year's record setting year.

Year-over-year price growth in the resale market remains stable at 6.5 per cent, however, softened in the month of August with average resale prices rising only 4.1 per cent.  The average price in Halifax Country Southwest declined in August compared to last year, falling 8.5 per cent from $223,229 to $204,197.  Still, many areas in HRM experienced strong price growth last month, most notably Halifax County East and Sackville with average prices rising 17.5 and 11.8 per cent respectively.

To view entire article go to www.cmhc.ca - Housing Now-Halifax CMA-Date released:  September 2008