Moncton Real Estate Blog
#1 Moncton Real Estate Blog

Metro Moncton MLS® Residential Sales Year-to-date

My Metro Moncton Market Report for February 2010 includes Moncton, Dieppe & Riverview.

Below sales of existing residential and new construction are separated and I'm including a three month average to reduce fluctuations caused inconsistent reporting of sales as they occur. If you are unrepresented by a real estate licensee and are considering a residential housing purchase, why not call me to discuss your buying strategy? No obligation.  I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton.

Find me on the web at www.LarryEstabrooks.com

EXISTING ONLY

Unit sales of existing residential properties are up from last year.
The sale to list price ratio is up slightly.
And the average sale price is up by 5%.

Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2010 182144 175786 97% 88 days 95
JAN-2010 170411 160205 94% 101 days 61
DEC-2009 169094 162580 96% 92 days 77
3 months 174760 167342 96 % 93 days 233
Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2009 160484 153792 96% 81 days 79
JAN-2009 166618 158138 95% 100 days 45
DEC-2008 179362 168764 94% 103 days 53
3 months 167696 159380 95 % 93 days 177
Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2008 171995 165010 96% 84 days 112
JAN-2008 166336 159833 96% 92 days 70
DEC-2007 158585 151879 96% 107 days 62
3 months 166964 160188 96 % 92 days 244
Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2007 156019 150684 97% 72 days 108
JAN-2007 165534 158994 96% 83 days 79
DEC-2006 141702 135420 96% 81 days 61
3 months 155529 149577 96 % 78 days 248
Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2006 142428 136797 96% 70 days 93
JAN-2006 139062 132421 95% 97 days 70
DEC-2005 139937 133904 96% 88 days 67
3 months 140678 134623 96 % 84 days 230

NEW ONLY

Unit sales of new homes are up year-to-date to a new record level.
The average days on market is higher than the last two years.
The average sale price is fairly stable for the three month period over the last three years.
Roughly one in four residential unit sales in the last three months were new construction.

Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2010 177688 177739 100% 147 days 24
JAN-2010 160947 160378 100% 138 days 38
DEC-2009 170000 168596 99% 161 days 21
3 months 168078 167478 100 % 146 days 83
Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2009 162369 161545 99% 144 days 26
JAN-2009 157176 157229 100% 133 days 17
DEC-2008 183064 181783 99% 93 days 28
3 months 169287 168493 100 % 121 days 71
Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2008 153010 152869 100% 140 days 29
JAN-2008 180883 182093 101% 102 days 23
DEC-2007 172743 172048 100% 145 days 23
3 months 167609 167713 100 % 130 days 75
Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2007 151243 151194 100% 118 days 37
JAN-2007 187275 183761 98% 137 days 24
DEC-2006 160894 160651 100% 98 days 16
3 months 164479 163310 99 % 120 days 77
Month Avg. List Price Avg. Sale Price Sale to List Price Avg. List Duration # Of Sales
FEB-2006 143056 141830 99% 136 days 34
JAN-2006 145572 146997 101% 155 days 18
DEC-2005 158813 156653 99% 155 days 15
3 months 147260 146537 100 % 145 days 67

 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 2/28/2010 3:27 PM | Add Comment

Almost New on Treed Acre Plus Lot

Seeking to buy a two storey home with enough treed land for some privacy and located barely past city limits?
You owe it to yourself to check out this new listing on 31 Anabelle Crescent in Deer Run Estates.

 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 2/10/2010 8:38 PM | Add Comment

First 2010 Metro Moncton Residential Real Estate Market Update

My Metro Moncton Market Report for January 2010 Includes Moncton, Dieppe & Riverview and separates sales of existing residential and new construction.

In addition I'm including the three month period to reduce fluctuations caused inconsistent reporting of sales when they occur.

Unit sales of existing homes are up from last year but not quite back to pre-recession levels.
The average days on market for a sold listing rose slightly.
The sale to list price ratio is up slightly.
And the average sale price is almost unchanged.

Existing only
Month Average List Price Average Sale Price Sale to List Price Average List Duration # Of Sales
JAN-2010 170411 160205 94% 101 days 61
DEC-2009 169094 162580 96% 92 days 77
NOV-2009 174790 168163 96% 91 days 76
3 months 171492 163886 96 % 94 days 214
Month Average List Price Average Sale Price Sale to List Price Average List Duration # Of Sales
JAN-2009 166618 158138 95% 100 days 45
DEC-2008 179362 168764 94% 103 days 53
NOV-2008 173292 165581 96% 78 days 62
3 months 173426 164542 95 % 93 days 160
Month Average List Price Average Sale Price Sale to List Price Average List Duration # Of Sales
JAN-2008 166336 159833 96% 92 days 70
DEC-2007 158585 151879 96% 107 days 62
NOV-2007 161626 155626 96% 73 days 97
3 months 162243 155897 96 % 88 days 229

Unit sales of new homes are up substantially over the three month period.
The average days on market is higher than the last two years.
The average sale price is lower, reflecting a significant increase in sales of semi-detached housing.

Note: Roughly one third of residential unit sales in the last three months were new construction.

New only
Month Average List Price Average Sale Price Sale to List Price Average List Duration # Of Sales
JAN-2010 160947 160378 100% 138 days 38
DEC-2009 170000 168596 99% 161 days 21
NOV-2009 152526 153167 100% 96 days 43
3 months 159261 159030 100 % 125 days 102
Month Average List Price Average Sale Price Sale to List Price Average List Duration # Of Sales
JAN-2009 157176 157229 100% 133 days 17
DEC-2008 183064 181783 99% 93 days 28
NOV-2008 173557 174221 100% 80 days 14
3 months 173349 172914 100 % 102 days 59
Month Average List Price Average Sale Price Sale to List Price Average List Duration # Of Sales
JAN-2008 180883 182093 101% 102 days 23
DEC-2007 172743 172048 100% 145 days 23
NOV-2007 155445 154293 99% 105 days 22
3 months 169900 169702 100 % 118 days 68

It's a great time to purchase residential housing. Why not call me to discuss your buying strategy? I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton. I caution that average price information can be useful in establishing trends over time, but does not indicate actual prices in cities and towns comprised of widely divergent neighbourhoods and age of properties.

Find me on the web at www.LarryEstabrooks.com

 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 2/1/2010 3:51 PM | Add Comment

December MLS® Residential Sales for Metro Moncton

Here's  another graph I prepared to illustrate the monthly trend of residential unit sales in "metro" Moncton for the past three years. "Metro" Moncton consists of the City of Moncton, City of Dieppe and Town of Riverview. Keep in mind that 2007 was an all time record year for the number of residential units sold in "metro" Moncton.

  • The number of residential sales reported  in December set an all time record for the month.
  • Total residential unit sales reported in 2009 were 10% lower than 2008 and 15.4 % behind 2007 (all time record year)

Have a question about local real estate? Feel free to contact me for an answer.


 

 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 1/1/2010 3:39 PM | Add Comment

2010 Housing Bubble Talk is Nonsense in Moncton Area

Some say the Canadian housing market as a whole is beginning to overshoot its "fair value".

Apprehension of a housing bubble may indeed have merit in some Canadian real estate markets.

But the fact is that real estate markets are local, irrespective of common national influences like mortgage rates and lumber prices.

My analysis of the local Moncton area housing market indicates such bubble fears are unfounded here.

  • Some factors at play in other Canadian housing markets are not affecting our local housing market.
  • Our housing prices, roughly 50% of the "the Canadian housing market as a whole", did not retreat in this recession.
  • And there is no current evidence to indicate they might overshoot "fair value" in the near future.
  • The local housing market is on a solid, stable footing.

For 2010, here is a message to housing owners who live in a housing market that may have overshot its fair value. Sell high now and buy at more than fair prices in the Moncton area. And do it before interest rates begin to rise. Consider this: higher interest rates have less of an impact when applied to our local housing prices that are up to 50% lower than the high priced markets.

And my 2010 message to local first time buyers is to purchase before any rush that may result from rising mortgage interest rates.

 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 1/1/2010 1:55 PM | View Comments (6) | Add Comment

November Residential Sales for Metro Moncton

I'm back with another graph to illustrate the monthly trend of residential unit sales in "metro" Moncton for the past three years. Keep in mind that 2007 was an all time record year for the number of residential units sold in "metro" Moncton. By the way "metro" Moncton consists of the City of Moncton, City of Dieppe and Town of Riverview. I have not included sales outside of the three municipalities.

  • The slide in residential unit sales began October 2008.
  • The number of residential sales reported  this November was almost identical to 2007.
  • Year to date units sales are down 11.5% from 2008 and 16.9% from 2007

Have a question about real estate?
Want to know the difference between the Moncton, Dieppe and Riverview markets?
Feel free to contact me for an answer.

 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 12/3/2009 8:44 PM | Add Comment

October Residential Sales for Metro Moncton

My chart below illustrates the monthly trend of residential unit sales in "metro' Moncton (City of Moncton, City of Dieppe and Town of Riverview).

  • The slide in residential unit sales began a year ago.
  • The number of sales this October was identical to last year.
  • New construction units made up a larger percentage of these sales. 
  • The average sale price continues to advance.
 Have a question about the real estate market? Feel free to contact me for an answer.





 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 11/2/2009 9:20 PM | View Comments (1) | Add Comment

Metro Moncton real estate sales in September

I prepared the chart below to illustrate the monthly trend of residential unit sales in "metro' Moncton (Moncton - Dieppe - Riverview).

The third quarter of 2009 was much better than the first two. Low interest rates and stable prices are translating into activity in the real estate market.

Understanding the market trends is a valuable advantage in real estate.
Unrepresented? Need help with the real estate market? I'm available.



 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 10/1/2009 4:32 AM | View Comments (1) | Add Comment

Metro Moncton real estate unit sales maintain momentum in August

I prepared the chart below to illustrate the monthly trend of residential unit sales in "metro' Moncton (Moncton - Dieppe - Riverview). The chart clearly shows the improvement in monthly sales beginning in July.

And here is another number worth noting. For the first time ever, in any month, the average sale price of a residential unit in metro Moncton exceeded $180,000.

When buying or selling real estate, understanding the market trends is a valuable advantage.
This month's market word is convergence.
Unrepresented? Need help with the real estate market? I'm available.


 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 9/1/2009 7:37 AM | View Comments (1) | Add Comment

Metro Moncton real estate sales were stronger in July

My chart below illustrates that in the past two years the number of residential units sold in Moncton - Dieppe - Riverview typically trend lower in the month of July. However this July residential unit sales were just as strong as the last two years, which by the way were record years for July.

Average residential sale prices continue to rise and the number of active residential listings is actually lower than this time last year.

When buying or selling real estate, understanding the market trends is a valuable advantage.
This month's market word is convergence.
Unrepresented? Need help with the real estate market? I'm available.

 

 del.icio.us  Technorati 

Posted by Larry Estabrooks - Agent at 8/5/2009 7:35 PM | Add Comment
Older Entries
Copyright 2009. All rights reserved.