MLS® home sales in Northern and Valley Regions of New Brunswick set new record for the month of August
The number of homes sold through the MLS® System of the Northern and Valley Regions of the New Brunswick Real Estate Association totaled 210 units in August 2021. This was a substantial gain of 55.6% from August 2020 and was a new sales record for the month of August.
Home sales were 49.8% above the five-year average and 75.6% above the 10-year average for the month of August.
On a year-to-date basis, home sales totaled a record 1,464 units over the first eight months of the year. This was a significant increase of 54.4% from the same period in 2020.
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 $158,100 in August 2021, a significant increase of 33.2% compared to August 2020.
The average price of homes sold in August 2021 was $169,151, up by 23.4% from August 2020.
The more comprehensive year-to-date average price was $163,955, advancing 32.6% from the first eight months of 2020.
The dollar value of all home sales in August 2021 was $35.5 million, a jump of 91.9% from the same month in 2020. This was also a new record for the month of August.
The number of new listings were up by 11.4% from August 2020. There were 264 new residential listings in August 2021. This was also the largest number of new listings added in the month of August in history.
New listings were 12.9% above the five-year average and 20.4% above the 10-year average for the month of August.
Active residential listings numbered 889 units on the market at the end of August, a decrease of 23% from the end of August 2020. Active listings haven't been this low in the month of August in more than 15 years.
Active listings were 28.6% below the five-year average and 30.3% below the 10-year average for the month of August.
Months of inventory numbered 4.2 at the end of August 2021, down from the 8.6 months recorded at the end of August 2020 and below the long-run average of 11.5 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.
BOARD & ASSOCIATION INFORMATION
The Northern and Valley Regions, New Brunswick Real Estate Association represent a group of over 75 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.
For more information,
at the Saint John Real Estate Board