The number of sales reported in the 3rd quarter was higher than the past few years.
Stronger 3rd quarter sales contribute to better year-to-date numbers for the “metro” Moncton area:
You are running out of time if you plan to purchase a single family home in the metro Moncton area before 2015 is over.
June is now past. From the number of sales reported , it appears house buyers have responded to a metro Moncton real estate market that favours buyers over sellers.
If you plan to purchase a Moncton single family home in 2015, you have not yet missed the best time to make your lowest price on a Moncton home buy in 2015. In the past the Moncton area MLS® Home Price Index (HPI) typically rose with the Spring real estate market. This year that trend continued in Dieppe and Riverview. However so far this year the HPI has declined in Moncton. If you are planning a Moncton single family housing purchase, get some good advice well in advance of making an offer to purchase.
Buyers should selecting their own real estate Agent who will pledge full representation and undivided loyalty. Real estate buyers may regret choosing anything less than full representation.
If you are planning a housing purchase for this year in the Moncton area, you may have missed the best time to make your lowest price on Moncton home purchase in 2015. The Moncton MLS® Home Price Index (HPI) typically rises in the Spring market. See that little upward move on the far right in the graph below? That’s the beginning of the Spring real estate market. Six months from now the HPI could be at it’s peak for 2015.
Or perhaps not. And interest rates could be higher in six months. Or perhaps not. What’s a buyer to do? Buyer’s should start by selecting their own Agent who will pledge full representation and undivided loyalty. Choosing anything less might be regrettable.
In the metro Moncton real estate market reported sales of new homes were almost one out of every three sales in the first quarter of 2010 and 2011. In the first quarter of 2015 new homes accounted for only one in ten of all reported sales. Currently on the market are 94 new homes priced below $200,000 and 142 new homes priced between $200,000 and $300,000. So there is no shortage of new homes for sale. With the current market conditions, it just might be the right time to make a good buy on a new home.
Moncton Real Estate News
February 2015 Home Price Index slips
Fewer reported sales in the greater Moncton area may have influenced the February HPI. And perhaps one might fault the record February snowfall. Consider however the national MLS® HPI for January showed the HPI for greater Moncton also declined last month. In comparison to February 2014 the Home Price Index declined the most in Riverview and Dieppe. The rural areas immediately surrounding Moncton, Dieppe and Riverview posted an increase in the HPI. Continue reading
For Moncton – Dieppe _ Riverview, housing units reported sold in February equaled last year. Perhaps all the snow in the last few weeks dampened the January 2015 surge in unit sales. Or perhaps the January surge was an anomaly. In either case the lackluster sale numbers cannot be attributed to the abundant supply of housing for sale. Buyers have more than enough listings from which to choose. As Buyers, Sellers and REALTORS® suffer the last three weeks of Winter, we will carry on towards the busiest real estate market of the year, SPRING!
At the end of March I’ll compare the first quarter to previous years.