February 2008 Real Estate Market Update

Posted by Larry Estabrooks - Agent at 3/3/2008 8:19 PM and is filed under Market Reports

Are all the snowstorms in January and February affecting the Moncton area residential real estate market?

It could be or is there a market trend developing anyway? Only time will tell.
Here are the latest highlights and stats.

  • Year to date unit sales are down 7% from the previous year.
  • Another contributing factor is that active residential listings are down 4.5% from last year.
  • The sales to new listings ratio year to date has dropped to 49% compared to 54% for the same period last last year.
  • The year to date 2008 average sale price is up 5.66% over the same period in 2007.

note:} Residential units include single family detached homes, semi-detached, condominiums, mini homes, recreational properties, duplexes and triplexes. Both existing and new construction properties are included.

$ Value of Units sold

# Units Sold

Average sale $

  2008 2007 2008 2007 2008 2007
February 29,179,270 28,961,325 199 215 146,629 134,703
January 20,900,048 22,122,247 135 145 154,815 152,576
  2007 2006 2007 2006 2007 2006
December 18,269,327 15,344,744 126 113 144,994 135,794
November 28,971,853 21,918,144 213 162 136,018 135,297
October 31,665,150 26,649,214 230 218 137,674 122,244
September 31,368,405 28,115,118 232 237 135,208 118,629
August 38,414,243 34,191,546 274 253 140,197 135,144
July 42,993,468 31,448,713 293 240 146,735 131,036
June 46,235,437 33,416,104 325 262 142,262 127,542
May 46,330,505 44,694,591 327 348 141, 683 128,432
April 32,259,581 28,505,176 237 213 136,116 133,357
March 30,566,553 27,117,105 228 208 134,063 130,370
February 28,961,325 22,799,388 215 181 134,703 125,963
January 22,122,247 14,619,400 145 119 152,576 122,852

(I caution that average price information can be useful in establishing trends over time, but does not indicate actual prices for homes in the greater Moncton area which is comprised of widely divergent neighborhoods in many cities and towns)

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