New Brunswick Real Estate Board

The number of homes sold through the MLS® System of the New Brunswick Real Estate Board totaled 811 units in September 2024. This was a minor increase of 2.9% from September 2023.

Home sales were 17.3% below the five-year average and 5.7% below the 10-year average for the month of September.

On a year-to-date basis, home sales totaled 7,234 units over the first nine months of the year. This was a small gain of 1.6% from the same period in 2023.

At the local level home sales activity posted an increase in Fredericton (12.2%) and Greater Moncton (8.3%) and recorded declines in Northern and Valley Regions (-3.8%) and Saint John (-7.3%) on a year-over-year basis.

“Sales ticked up slightly compared to last September, though still below the usual pace for this time of year. The number of newly listed properties are holding steady and we’re seeing more homes on the market compared to last year,” said Mike Power, Chair of the New Brunswick Real Estate Board. “While the MLS® HPI Composite Benchmark price hasn’t moved much in recent months, it’s still higher than last September and is up nearly 9% so far this year. Overall, the market is holding steady, walking the line between a seller’s market and balanced conditions.”

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 $309,600 in September 2024, increasing by 6.7% compared to September 2023.

The benchmark price for single-family homes was $310,200, a gain of 6.6% on a year-over-year basis in September. By comparison, the benchmark price for townhouse/row units was $293,600, up by 13.6% compared to a year earlier, while the benchmark apartment price was $286,800, an increase of 9.4% from year-ago levels.

The dollar value of all home sales in September 2024 was $265.3 million, up by 17.3% from the same month in 2023.

The number of new listings saw an increase of 6.6% from September 2023. There were 1,231 new residential listings in September 2024.

New listings were 1.2% above the five-year average and 1.8% above the 10-year average for the month of September.

Active residential listings numbered 3,323 units on the market at the end of September, a moderate gain of 9.1% from the end of September 2023.

Active listings were 0.4% above the five-year average and 34.8% below the 10-year average for the month of September.

Months of inventory numbered 4.1 at the end of September 2024, up from the 3.9 months recorded at the end of September 2023 and below the long-run average of 6.5 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.