Northern Region, New Brunswick Real Estate Association

Northern and Valley Regions of the New Brunswick Real Estate Association MLS® home sales post new record for the month of June

The number of homes sold through the MLS® System of the Northern and Valley Regions of the New Brunswick Real Estate Association totaled 199 units in June 2022. This increased by 7% (13 sales) from June 2021. This was also a new sales record for the month of June.

Home sales were 21.2% above the five-year average and 46.9% above the 10-year average for the month of June.

On a year-to-date basis, home sales totaled a record 1,063 units over the first six months of the year. This was a modest gain of 2.2% from the same period in 2021.

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/single-family benchmark price was $196,400 in June 2022, a jump of 40.1% compared to June 2021.

The average price of homes sold in June 2022 was $204,899, up sharply by 30.6% from June 2021.

The more comprehensive year-to-date average price was $196,420, an increase of 20.7% from the first six months of 2021.

The dollar value of all home sales in June 2022 was $40.8 million, a jump of 39.7% from the same month in 2021. This was also a new record for the month of June.

The number of new listings was up by 27.2% from June 2021. There were 383 new residential listings in June 2022. This was the largest number of new listings added for the month of June and was also the highest number added for any month in history.

New listings were 31.3% above the five-year average and 40.1% above the 10-year average for the month of June.

Active residential listings numbered 784 units on the market at the end of June, a sharp decrease of 17.6% from the end of June 2021. Active listings haven’t been this low in the month of June in more than 15 years.

Active listings were 30.4% below the five-year average and 35.6% below the 10-year average for the month of June.

Months of inventory numbered 3.9 at the end of June 2022, down from the 5.1 months recorded at the end of June 2021 and below the long-run average of 9.9 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.

BOARD & ASSOCIATION INFORMATION

The Northern and Valley Regions, New Brunswick Real Estate Association represent a group of over 100 dedicated real estate professionals who live and work in and around the communities of Edmundston, Miramichi, Bathurst, Campbellton, and the Acadian Peninsula, New Brunswick

Administration and management of member services and programs for the Northern Region, New Brunswick Real Estate Association are provided in partnership by the Saint John Real Estate Board and the New Brunswick Real Estate Association.


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For more information,
please contact:
Angela Boudreau
at the Saint John Real Estate Board
506-634-8772
sjreb@nb.aibn.com

President
Melanie Daley

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