Here is my South-East New Brunswick Real Estate Market Report for February 2009. Timely real estate market information is just one important subject I regularly discuss with my buyer and seller clients.

• Unit sales of residential properties were down 21% from last February to the lowest February level since 2005.
• The number of new listings in February was also down 23%. This kept the sales to listings ratio at 58%, which historically is a good number.
• The average residential sale price is relatively unchanged from February 2008.
• The number of active residential listings at the end of February is up just 4% from this time last year.

So the current real estate market conditions are: ample listings from which to choose, no upward pressure on residential housing prices, lower monthly payments due to mortgage interest rates at historically low levels and new tax incentives in the proposed 2009 federal budget.

The current conditions in our local real estate market are mostly in favour of buyers.

Any questions?

(note these numbers do not include vacant residential building lots)

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I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton

Contact me at www.LarryEstabrooks.com