2019 in the running to be a record year; sales up 13.3%

Fredericton area home sales for the first nine months of 2019 totalled 1,985 units, up 13.3 per cent from 2018. With three months left to go this year, 2019 remains in the running to be a record year, trailing 2007 by just 2.2 per cent.

Year-to-date average price was $189,630, edging up 1.1 per cent from the first nine months of 2018.

The Real Estate Board of the Fredericton Area said that for September, 183 homes were sold in the Fredericton area. This was an increase of 17.3 per cent from September 2018 and was a new record for activity in that month.

The average price of homes sold in September 2019 was $168,995, down 6.3 per cent from September 2018.

There were 306 new residential listings in September 2019, up 4.8 per cent (14 listings) on a year-over-year basis.

By contrast, overall supply has generally trended lower since mid-2015 and now stands at the lowest level in 15 years. Active residential listings numbered 1,125 units at the end of September, a decrease of 14.3 per cent from the end of September in 2018.

Homes have also been selling faster in the first nine months of the year compared to the same period last year. Months of inventory numbered 6.1 at the end of September 2019, down from the 8.4 months recorded at the end of September 2018 and below the 10-year average of 9.6 months for the end of the year.

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