New Brunswick Home Sales Surge in Rebound, Home Sales Break All-Time Record…Again

Source – creastats.crea.ca

“…The number of homes sold through the MLS® Systems of real estate Boards in New Brunswick totaled 1,263 units in July 2020. This was an increase of 14.3% from July 2019. This was also a new sales record for the month of July and was the highest level for any month in history”

New Brunswick home sales and listings continue to surge in rebound, home sales break all-time record (again)

The number of homes sold through the MLS® Systems of real estate Boards in New Brunswick totaled 1,263 units in July 2020. This was an increase of 14.3% from July 2019. This was also a new sales record for the month of July and was the highest level for any month in history.

In a year-to-date basis, home sales totalled 5,596 units over the first seven months of the year. This edged down 1.1% from 2019.

At the local level home sales activity posted a year-over-year increase in all regions of the province, with gains in the Northern Region (+29.9%), Greater Moncton (+18.3%), Saint John (+13.6%), and Fredericton (+1.0%).

The average price of homes sold in New Brunswick was a record $203,173 in July 2020, rising 12.1% from July 2019. This was the first time average price levels for the province had ever surpassed $200,000.

The more comprehensive year-to-date average price was $192,374, up 7.4% from the first seven months of 2019.

There were 1,573 new residential listings added to the MLS® Systems of real estate Boards in New Brunswick in July 2020. This edged up 3.2% on a year-over-year basis. This was the largest number of new listings added in the month of July in five years.

Overall supply has trended lower over the last five years and is now dropping sharply. Active residential listings numbered 3,931 units at the end of July. This was a large decline of 33.8% from the end of July 2019.

Months of inventory numbered 3.1 at the end of July 2020, down from the 5.4 months recorded at the end of July 2019 and below the long-run average of 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.

New Brunswick Monthly Summary
July 2020 Residential Dollar Volume Total Dollar Volume Residential Sales Residential Average Price
Fredericton $63,661,101 $66,059,331 291 $218,767
Greater Moncton $109,469,503 $117,039,189 497 $220,261
Northern Region NBREA $26,025,000 $28,087,091 191 $136,257
Saint John $57,452,255 $65,277,705 284 $202,297
New Brunswick $256,607,859 $276,463,317 1,263 $203,173

 

https://creastats.crea.ca/board/nbrea

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