New Brunswick’s real estate market continues to lean in favour of sellers, according to the province’s real estate board.
Home sales remained stable in June with 1,000 homes switching hands, an increase of just six units from one year earlier.
Activity was up in most areas of the province, with the exception of the Fredericton region, which saw a nearly five per cent drop.
“Overall sales were stable compared to last year, above the 1,000-home mark – a sign of resilience in a market leaning in favour of sellers,” Justin Morehouse, chair of the New Brunswick Real Estate Board, said in a news release.
“New listings climbed for the sixth month in a row, offering more options to buyers while still maintaining a healthy competitive market.”
There were 1,581 new residential listings in June, according to the board, an increase of nearly 12 per cent year over year, but still slightly below the five-year and 10-year averages.
Active residential listings numbered 3,647 units at the end of June, reaching their highest level for the month of June in five years, said the report.
Months of inventory — the number of months it would take to sell current inventories at the current rate of sales activity — numbered 3.4 at the end of June, down from the long-run average of 4.8 months for this time of year.
The benchmark price for single-family homes climbed nearly seven per cent year over year to $329,600.
“As inventory levels continue to rise and prices trend upwards, New Brunswick housing markets remain active and well-positioned heading into the second half of the year,” said Morehouse.
