Home sales activity in New Brunswick posted a noticeable year-over-year decline in July 2010 compared to the record levels reached in the same month last year.
According to statistics provided by real estate boards in New Brunswick, home sales numbered 649 units in July 2010, a decrease of 22 per cent from year-ago levels. National sales, by comparison, were down 30 per cent on a year-over-year basis.
Activity was down on a year-over-year basis across the province, with declines in Northern New Brunswick (-10 per cent), Moncton (-14 per cent), Saint John (-26 per cent), and Fredericton (-30 per cent).
The average price for homes sold in July 2010 was $159,513, rising five per cent from a year earlier. Within the province, the average home price was up on a year-over-year basis in all areas except Moncton, where the average figure came in on par with July 2009. The national average price was up one per cent from a year earlier to $330,351.
The dollar value of all provincial home sales totalled $103.5 million in July 2010, down 18 per cent from a year earlier.
New residential listings numbered 1,330 units in July 2010, down eight per cent from year-ago levels. This is the third consecutive decline. Active listings on the MLS® Systems of real estate boards in New Brunswick were down one per cent on a year-over-year basis to 5,702 units at the end of July 2010.
There were 8.8 months of inventory at the end of July, up from seven months one year ago. 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
July 2010 |
Residential Dollar Volume |
Total Dollar
Volume |
Residential Average Price |
Fredericton |
$ 31,843,358 |
$ 33,353,653 |
$ 174,007 |
Moncton |
$ 37,160,515 |
$ 39,672,555 |
$ 149,239 |
Northern NB |
$ 4,413,300 |
$ 4,582,700 |
$ 95,941 |
Saint John |
$ 30,106,445 |
$ 32,370,995 |
$ 176,061 |
Provincial |
$ 103,523,618 |
$ 109,979,903 |
$ 159,513 |
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.
Important information
Please note the statistics quoted in this report do
not include those of the Valley Real Estate Board in
northeastern New Brunswick. The average price information
quoted can be useful in establishing trends over time, but
does not indicate actual prices in centres comprised of widely
divergent neighbourhoods, or account for price differentials
between geographical areas.
