Saint John & Moncton Remain ‘Havens For Affordability’

Source – financialpost.com

  • “…In Moncton, prices rose from 21.2 per cent to $282,886, and continues to have one of the highest price outlooks for the remainder of the year, according to RE/MAX”

Saint John & Moncton Remain ‘Havens For Affordability’

While low supply and high demand have created challenging conditions for many homebuyers across Canada, especially in cities such as Toronto and Vancouver, affordable options exist for homebuyers who are considering alternative markets due to the continued ability to work remotely, according to RE/MAX.”

…There are indications single-detached-home price acceleration may be starting to level off in some urban centres, prices are continuing to rise in many smaller cities and communities that were once “havens for affordability.”

Atlantic Canada, which has weathered the pandemic better than much of the rest of the country, has seen significant increases in cities such as Halifax, N.S., and Moncton, N.B., and this trend is expected to continue for the remainder of 2021.

The average price of a single detached home in Halifax increased by 24.3 per cent year-over-year to $500,147.

In Moncton, prices rose from 21.2 per cent to $282,886, and continues to have one of the highest price outlooks for the remainder of the year, according to RE/MAX.

The condo and townhome markets in the Atlantic provinces has also performed well, with these markets in Halifax, Saint John, N.B., and Moncton experiencing price surges of between 12.5 per cent and 48.9 per cent year over year.

Moncton is expected to continue strong, with one of RE/MAX’s highest price outlooks for the remainder of 2021.

Saint John is expected to see more tempered price growth, ranging between one and three per cent across all property types, while Halifax could see a six-per-cent increase in average sale price for the remainder of the year.

https://financialpost.com/real-estate/toronto-housing-market-at-critical-juncture-as-plunging-listings-push-high-prices-higher

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