New Brunswick Real Estate Board

The number of homes sold through the MLS® System of the New Brunswick Real Estate Board totaled 552 units in December 2024. This was a significant increase of 30.8% from December 2023.

Home sales were 2.4% below the five-year average and 11.8% above the 10-year average for the month of December.

On an annual basis, home sales totaled 9,460 units over the course of 2024. This was a moderate gain of 4.2% from 2023.

At the local level home sales activity posted increases in all areas of the province, rising in Northern and Valley Regions (55.1%), Saint John (37.6%), Greater Moncton (26.8%), and Fredericton (13.5%) on a year-over-year basis.

"2024 was another standout year for MLS® listed properties in our region. Sales rose compared to last year and came in right around what we’d expect for a typical December. New listings saw a nearly 10% increase over December 2023, while active listings rose to levels not seen since early 2024,” said Mike Power, Chair of the New Brunswick Real Estate Board. “That said, the number of available homes across the province at the end of December was aligned with the 5-year average for the month. Our local market wrapped up the year in seller’s territory, and with the recent changes to mortgage rules and the potential for another rate cut on the horizon it remains to be seen whether the usually quieter winter months will heat up, or if buyers will hold off until spring.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $328,900 in December 2024, a gain of 15.5% compared to December 2023.

The benchmark price for single-family homes was $330,100, up by 15.7% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $283,300, an increase of 5.6% compared to a year earlier, while the benchmark apartment price was $291,000, a gain of 12.4% from year-ago levels.

The dollar value of all home sales in December 2024 was $176.3 million, up sharply by 48.3% from the same month in 2023.

The number of new listings saw an increase of 16.9% from December 2023. There were 456 new residential listings in December 2024.

New listings were 1.4% above the five-year average and 6% below the 10-year average for the month of December.

Active residential listings numbered 2,245 units on the market at the end of December, a slight gain of 0.3% (seven listings) from the end of December 2023.

Active listings were 1.2% above the five-year average and 38.3% below the 10-year average for the month of December.

Months of inventory numbered 4.1 at the end of December 2024, down from the 5.3 months recorded at the end of December 2023 and below the long-run average of 8.2 months for this time of 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.