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The Saint John region remains on track to see a record number of home sales this year.
Numbers from the Saint John Real Estate Board show 173 units were sold in November.
That pushed year-to-date home sales to 2,174 units — the highest level ever recorded.
“With just one month left to go in 2019, home sales are on track to set a new annual record, although it will be a photo finish,” said Sherry Sheldrick, president of the Saint John Real Estate Board, in a statement.
The average price of homes sold so far this year was $183,292, edging down 0.9 per cent from the first 11 months of 2018.
But Sheldrick said she expects home prices to trend in the opposite direction in the new year.
“Looking ahead to next year, buyers are going to be facing the tightest market conditions the local market has seen in over a decade, so expect prices to accelerate,” she said.
Months of inventory numbered 6.2 at the end of November 2019, down from the 8.2 months recorded at the end of November 2018 and just half the 10-year average of 12.8 months for this time of year.
This is the number of months it would take to sell current inventories at the current rate of sales activity.
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