Home sales and new listings were below average in July across southern New Brunswick.
Figures from the Saint John Real Estate Board show a total of 187 units were sold.
That is nearly 25 per cent below the five-year average and nearly 20 per cent below the 10-year average.
President Kevin Donovan said it also marked the lowest total for the month since 2012.
“Moreover, new listings, which had been steadily increasing each month for the past seven months, recorded the first month-over-month decline,” Donovan said in a news release.
There were 278 new listings recorded last month, the lowest July number we have seen in more than 15 years.
New listings were nearly 18 per cent below the five-year average and 26 per cent below the 10-year average.
Donovan said while active listings remain much lower than usual, they have shown consistent growth over the last six months.
There were 589 active residential listings on the market as of the end of July, according to the real estate board.
Active listings were 36 per cent below the five-year average and 61 per cent below the 10-year average.
Meanwhile, the benchmark price for single-family homes climbed for the seventh straight month to $295,200.
“The market balance in July remained relatively stable, continuing to favour sellers,” said Donovan.
The Saint John Real Estate Board covers the southern part of New Brunswick to the U.S. border in St. Stephen and includes the counties of Saint John, Kings, Charlotte and portions of Queens.
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