Local real estate statistics bucking downward regional trend

NEW GLASGOW - The housing market remained fairly steady in the county despite regional statistics that say otherwise.
Jim MacIvor, owner/broker at J.F. MacIvor Properties, has more than 40 years of experience in the business and said that although provincial numbers show that the market was sluggish in 2008 and never picked up until mid-way through 2009, he didn't see that.
"I think basically they are talking in general for the province," he said of the numbers released by the Nova Scotia Association of REALTORS (NSAR). "We haven't felt that here. They started off strong and stayed strong. All of the realtors I spoke to have said the same. We didn't really see too much change here in the county."
Statistics for the Northern Region indicate that sales were down 12.2 per cent in 2009 over 2008 and listings were down 13.3 per cent over the same period, but keep in mind that the region includes a large chunk of mainland Nova Scotia from the eastern shore through parts of Antigonish, Halifax and Hants counties. It also takes in all of Pictou, Colchester and Cumberland counties.
Prices in the Northern Region jumped 2.9 per cent in 2009 over 2008 with the average single family dwelling selling for $116,504. That's where the local market does agree with the provincial stats.
"Prices are building steadily," MacIvor said.
MacIvor noted that new construction wasn't much of a factor in 2009. "We didn't see too much building the past year, but that might change this year."
He figured the building slowdown might be traced to finding a place to build.
"Lot prices are getting up there and it's hard to get good lots."
The other side of the market has been slack, MacIvor stated.
"Commercial has been slow. Although if the wellness centre takes off and the new public school (in New Glasgow) is built, that spurs the economy as far as commercial goes. I think you'll see some commercial come along once the business park in Stellarton is finished… There's a lot of people talking about it, hopefully they'll move here."
NSAR president Linda Smardon said in a press release that the provincial real estate market could be vibrant this year.
"Towards the middle of 2009, consumer confidence began to build again and the recovery from double-digit decreases in sales and dollar volume indicates a brighter 2010 for the market than some previously thought."