Northern and Valley Regions MLS® home sales post second best April on record
The number of homes sold through the MLS® System of the Northern and Valley Regions of the New Brunswick Real Estate Association totaled 189 units in April 2022. Although, down by 15.6% from the same period last year, it was a strong showing, surpassed only by the record set for the month of April in 2021.
Home sales were 43% above the five-year average and 79.7% above the 10-year average for the month of April.
On a year-to-date basis, home sales totaled a record 678 units over the first four months of the year. This was an increase of 8.8% 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 $190,700 in April 2022, a significant increase of 33.7% compared to April 2021.
The average price of homes sold in April 2022 was a record $205,332, a sizable gain of 19.9% from April 2021.
The more comprehensive year-to-date average price was $189,667, increasing by 21.6% from the first four months of 2021.
The dollar value of all home sales in April 2022 was $38.8 million, a modest gain of 1.1% from the same month in 2021. This was also a new record for the month of April.
The number of new listings decreased by 11.2% from April 2021. There were 253 new residential listings in April 2022.
New listings were 21.5% above the five-year average and 24.6% above the 10-year average for the month of April.
Active residential listings numbered 546 units on the market at the end of April, a large decline of 37.2% from the end of April 2021. Active listings haven’t been this low in the month of April in more than two decades.
Active listings were 44.6% below the five-year average and 49.5% below the 10-year average for the month of April.
Months of inventory numbered 2.9 at the end of April 2022, down from the 3.9 months recorded at the end of April 2021 and below the long-run average of 13 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.
For more information,
at the Saint John Real Estate Board