194 homes were scooped up in May according to figures from the Saint John Real Estate Board.
That’s a decrease of 18.1 per cent from the same time last year.
794 units sold in the first five months of this year which is only down by three sales or 0.4 per cent from 2019.
“Despite the severe housing market downturn, sales activity somehow managed to bounce back to levels that are considered average for this time of year,” said Corey Breau, President of the Saint John Real Estate Board. “New listings, however, are still a long way off from returning to normal. If the current pace of demand keeps going, sales won’t be able to continue at the current pace unless more sellers feel comfortable enough to come off the sidelines.”
Saint John home sales and listings post modest rebound in May after April’s record lows 👉 https://t.co/fJu54JRge3 #lifeinSJ #nbqualityoflife @SJ_REALTORS #CREAstats pic.twitter.com/10DlBfhBvf
— CREA | ACI (@CREA_ACI) June 15, 2020
The Saint John region had 270 new listings last month, a decline of 41.3 per cent on a year-over-year basis to the lowest level for May in more than 30 years.
The average cost of a home sold last month was $187,794, up 3.4 per cent over last May.
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