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Residential
activity recorded through the MLS® Systems of real estate
boards in New Brunswick ended 2009 on a high note, with sales
climbing to the highest level on record for the month of
December.
According
to statistics provided by real estate boards in New Brunswick,
there were 389 homes sold in December 2009, up 15 per cent
from the same month in 2008. National sales, by comparison,
were up 72 per cent from year-ago
levels.
On
a seasonally adjusted basis, home sales were up three per cent
month-over-month in December 2009 to reach the highest level
since August 2008 (seasonal adjustment removes normal seasonal
fluctuations).
Despite
the increase in home sales in the final months of 2009, the
total number of transactions in the province declined seven
per cent from 2008 levels to 7,003
units.
The
average price for home sales in December 2009 was $148,559, up
five per cent from December 2008. By comparison, the national
average price was up 19 per cent to $337,410. On an annual
basis, the average price for all homes sold through the MLS®
in the province in 2009 was $154,906. This is a new annual
record, up six per cent from 2008.
Monthly
residential average price rose on a year-over-year basis in
December in Saint John (+14 per cent) and Moncton (+3 per
cent), but declined in Northern New Brunswick (-2 per cent)
and Fredericton (-2 per cent).
The
dollar value of all home sales in New Brunswick amounted to
$57.8 million in December. This is a record for the month, up
21 per cent from December 2008. On an annual basis, the dollar
volume of all home sales in 2009 totalled $1.1 billion, edging
down two per cent from 2008.
New
listings were up year-over-year in December after declining in
the previous five months. New residential listings increased
13 per cent from year-ago levels, and totalled 568 units in
December 2009.
Total
active MLS® residential listings in the province declined four
per cent compared to December 2008, and the active residential
listings on the MLS® systems of real estate boards in New
Brunswick numbered 3,701 units at the end of December
2009.
There were 9.5 months of inventory at the end of
December, down from year-ago levels (11.4 months) and well
below the recessionary peak of 14.9 months recorded in
January. 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
December 2009 |
MLS® Residential Dollar
Volume |
Total MLS® Dollar
Volume |
MLS® Residential Average
Price |
|
Fredericton |
$ 14,521,872 |
$ 15,244,472 |
$
136,999 |
|
Moncton |
$ 22,273,668 |
$ 24,561,968 |
$
152,559 |
|
Northern NB |
$ 3,724,300 |
$ 5,012,200 |
$
93,108 |
|
Saint John |
$
17,269,624 |
$ 19,453,253 |
$ 178,037 |
|
Provincial |
$ 57,789,464 |
$ 64,271,893 |
$
148,559 |
|
New
Brunswick
2009 |
MLS®
Residential Dollar Volume |
Total
MLS® Dollar Volume |
MLS®
Residential Average
Price |
|
Fredericton |
$
344,868,621 |
$
361,554,720 |
$
159,219 |
|
Moncton |
$
358,221,693 |
$
383,285,936 |
$
150,135 |
|
Northern
NB |
$
42,056,431 |
$
46,655,256 |
$
90,444 |
|
Saint
John |
$
339,658,691 |
$
363,765,219 |
$
171,027 |
|
Provincial |
$
1,084,805,436 |
$
1,155,261,131 |
$
154,906 |
The
New Brunswick Real Estate Association represents over 1,000
agents, salespeople and affiliate members throughout the
province. NBREA serves its members through a wide variety of
educational programs, publications and special services. The
association also provides all real estate licensing courses in
the province and co-regulates the industry with the Department
of Justice. 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 to a strict code of
ethics.
For additional information,
please contact:
Erika Smith
New Brunswick Real
Estate Association
22 Durell Street, Unit 1
Fredericton,
N.B. E3C 1N8
Telephone: 506-459-8055
Fax: 506-459-8057
E-mail: esmith@nbrea.ca |
