Bedford Area Real Estate Market Statistics - August 2023

Bedford Area Real Estate Market Statistics - August 2023

In August 2023, the Bedford area, including West Bedford, Nova Scotia, continued to exhibit a stable and resilient real estate market. Here are the key market statistics for the region during that month:

Average Sales Price: The average sales price for homes in the Bedford area reached $685,256 in August 2023. This represents a modest year-over-year increase of 0.9%, indicating a steady and balanced market where property values are holding their ground.

New Listings: There were 31 new listings in the Bedford area during August 2023. This suggests that homeowners continue to have confidence in the market and are putting their properties up for sale.

Pending Sales: The Bedford area saw 28 pending sales in August, indicating strong buyer interest and competition in the market. Prospective buyers should be prepared to act swiftly when a desirable property becomes available.

Closed Sales: A total of 23 homes were successfully sold and closed in August 2023. This figure reflects a healthy level of real estate transactions in the Bedford area during the late summer period.

Inventory of Homes: The housing inventory in the Bedford area stood at 66 homes in August. While this number represents a limited supply, it is important to note that the market has been relatively stable in terms of inventory levels.

These statistics underscore the ongoing strength and resilience of the Bedford area real estate market, which includes West Bedford, Nova Scotia. The modest increase in average sales price, coupled with a healthy number of new listings, pending sales, and closed transactions, indicates that the region continues to be an attractive destination for both buyers and sellers.

Buyers should be prepared for a competitive market with limited inventory, emphasizing the importance of working closely with real estate professionals to secure the right property. As mortgage rates remain favorable, the Bedford area real estate market is poised to remain stable and attractive for the foreseeable future.