Real estate activity in New Brunswick remains active, according to the province’s real estate board.
Monthly figures released by the New Brunswick Real Estate Board showed 978 units were sold in May.
While that was down five per cent compared to last year, it marked the fifth straight month-over-month increase.
“All factors considered, the 2024 spring season, although softer than last year, has so far been quite active,” Chair Mike Power said in a news release.
On a year-over-year basis, home sales activity posted a 2.6 per cent increase in Fredericton and recorded declines of 2.9 per cent in Saint John, 3.8 per cent in the Northern and Valley Regions, and 11.7 per cent in Greater Moncton.
The number of newly listed properties reached 1,652 in May, the highest single-month total in nearly two years.
That helped push the number of active listings to 3,084, a number not seen since the fall of 2022, according to Power.
Meanwhile, the benchmark price for single-family homes in New Brunswick increased 10.5 per cent year over year to $307,200.
“Market conditions remained slightly favourable to sellers, and with the Bank of Canada’s rate announcement in early June, there is currently no indication that this trend will change in the near future,” said Power.
