Nova Scotia Association of REALTORS® MLS® home sales easily set new annual record in 2020
The number of homes sold through the MLS® System of the Nova Scotia Association of REALTORS® totaled 899 units in December 2020. This was a large increase of 37.9% from December 2019. This was also a new sales record for the month of December.
On an annual basis, home sales totaled a record 13,923 units over the course of 2020. This was an increase of 13% from the same period in 2019 and marked the highest level of any year in history, beating the previous record set in 2019 by more than 1,500 sales.
The average price of homes sold in December 2020 was a record $319,726, rising 22.3% from December 2019.
The more comprehensive annual average price was $291,224, rising 13.8% from all of 2019.
The dollar value of all home sales in December 2020 was $287.4 million, a large increase of 68.7% from the same month in 2019. This was also a new record for the month of December.
There were 709 new residential listings in December 2020. This was an increase of 25.3% from the end of December 2019. This was the largest number of new listings added in the month of December in a decade.
Active residential listings numbered 2,676 units at the end of December. This was a large decline of 38.9% from the end of December 2019. Active listings haven't been this low in the month of December in more than 15 years.
Months of inventory numbered 3 at the end of December 2020, down from the 6.7 months recorded at the end of December 2019 and below the long-run average of 12.9 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
BOARD & ASSOCIATION INFORMATION
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
NSAR represents more than 1,500 brokers, salespeople and affiliate (e.g. solicitors, appraisers, banks) members throughout the province. The Association serves its members through a wide variety of educational programs, publications and special services with the vision that learning and sharing real estate knowledge will help the profession advance. Through an agreement with the Nova Scotia Real Estate Commission, NSAR provides all real estate licensing courses in the province. REALTOR® is a trademark, which identifies real estate professionals who are members of The Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and a strict Code of Ethics.
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