Residential sales activity in the area served by the Greater Moncton Real Estate Board Inc. was down on a year-over-year basis in July 2010 compared to last year’s near-record levels; however, the decline was just half the size of those seen in Saint John and Fredericton.
According to statistics provided by the Board, home sales activity numbered 249 units in July 2010, down 14 per cent from year-ago levels. On a year-to-date basis, sales remained four per cent above the same period in 2009. Provincial sales activity, by comparison, was down 22 per cent in July from the same month last year.
The average home price was little changed from year-ago-levels in July. The average price for residential activity in Moncton was $149,239 in July 2010, just $400 below levels in the same month last year. The average price for home sales in New Brunswick climbed five per cent from last July, reaching $159,513.
The total value of home sales reported through the Board’s MLS® System was $37.2 million in July 2010, 14 per cent below the dollar volume from a year earlier. The monthly dollar volume of residential sales in New Brunswick was down 18 per cent from the previous July.
Total sales activity numbered 286 units, down 13 per cent from last July. The value of all property sales in July 2010 amounted to $39.7 million, a decrease of 13 per cent.
New listings on the Board’s MLS® System were down eight per cent from year-ago levels to 383 units in July. Active residential listings on the Board’s MLS® System totalled 1,835 units at the end of July 2010, down eight-tenths of one per cent from a year earlier.
Supply and demand remain in balance. There were 7.4 months of inventory at the end of July, up from July 2009 (6.4 months). 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.
The Greater Moncton Real Estate Board Inc. represents more than 317 REALTORS® from over 33 member offices in Moncton, Dieppe, and Riverview as well as nearby communities in South Eastern New Brunswick. MLS® is a co-operative marketing system used only by Canada's real estate Boards to ensure maximum exposure of properties listed for sale.
