Fredericton MLS® market activity continues to set new records in October
Residential sales recorded by the Real Estate Board of the Fredericton Area Inc. totaled 225 units in October 2020. This was up slightly by 1.4% (three sales) from October 2019 and was a new sales record for the month of October.
On a year-to-date basis, home sales totalled a record 2,304 units over the first 10 months of the year. This edged up by 3.8% from 2019.
The average price of homes sold in October 2020 was $196,511, up 5.3% from October 2019.
The more comprehensive year-to-date average price was $208,892, rising 10.2% from the first 10 months of 2019.
There were 265 new residential listings in October 2020. This was an increase of 10.4% on a year-over-year basis.
Overall supply has fallen to its lowest level since 2001. Active residential listings numbered 587 units at the end of October. This was a large decline of 36.9% from the end of October 2019.
Months of inventory numbered 2.6 at the end of October 2020, down from the 4.2 months recorded at the end of October 2019 and below the long-run average of 8.5 months for the end of the year. 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 dollar value of all home sales in October 2020 was $44.2 million, up 6.7% from the same month in 2019. This was also a new record for the month of October.
Sales of all property types numbered 266 units in October 2020; an increase of 7.7% from October 2019. The total value of all properties sold was $49 million, edging down 1.1% from October 2019.
BOARD & ASSOCIATION INFORMATION
The Real Estate Board of the Fredericton Area Inc. represents 295 agents, salespeople and affiliate members throughout the provincial capital area. The Board serves members through a variety of programs, publications and special services including the Multiple Listing Service®. REALTOR® is a trademark, which identifies real estate professionals who are also 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.
REAL ESTATE BOARD OF THE FREDERICTON AREA INC.
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For more information, please contact:
Sharon Watts, Executive Officer
Real Estate Board of the Fredericton Area Inc.
544 Brunswick Street
Fredericton, NB E3B 1H5