Jason Stephen

Jason Stephen

Board President

Home sales improve in December

Residential sales activity reported through the MLS® System of the Saint John Real Estate Board numbered 76 units in December 2011. This was down four per cent from the same month in 2010, marking an improvement from the larger decline in November. Home sales in all of New Brunswick were up three per cent compared to December 2010.

 

“Home sales hit a soft patch last summer but have since been improving, and December marked a continuation of that trend” said Jason Stephen, President of the Saint John Real Estate Board. “As a result, sales for the year-to-date had been catching up with 2010 levels throughout the second half of the year. That said, the annual sales figure for 2011 did come in below 2010, while prices ended the year about even with 2010 level.”

 

A total of 1,572 homes traded hands in 2011. This stood 10 per cent below the annual total in 2010. The average price for homes sold in 2011 was $170,354, edging down just four tenths of one per cent from 2010. The annual average price for homes sold in New Brunswick was $160,545, up two per cent from 2010.

 

The average price for homes sold in December 2011 was $162,859, a decrease of two per cent from the same month in 2010. By comparison, the average price for homes sold in New Brunswick was $153,089, up seven per cent from December 2010.

 

New listings numbered 136 units in December, up 27 per cent from December 2010. There were 1,121 active residential listings on the Board’s MLS® System at the end of December 2011. This was an increase of 10 per cent from the same time in 2010.

 

There were 11.7 months of inventory at the end of December 2011 on a seasonally adjusted basis, down from 13.2 months at the end of November. 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 total value of all residential sales was $12.4 million in December 2011, down six per cent from a year earlier. The monthly dollar volume for residential sales in New Brunswick rose by 11 per cent compared to December 2010.

 

Sales of all types of properties in Saint John numbered 85 units in December, down seven per cent from December 2010. The total value of these property sales was $15.1 million, an increase of five per cent from year-ago levels .
 

The Saint John Real Estate Board is an association of approximately 280 REALTORS® that provides services to and sets standards for members. The Saint John Real Estate Board covers the southern part of New Brunswick to the U.S. border in St. Stephen, and includes the counties of St. John, Kings, Charlotte and portions of Queens County.


The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with the Saint John Real Estate Board. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor the Saint John Real Estate Board assumes any responsibility or liability. Copyright© The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.