It’s official: 2020 was a record-breaking year for the Fredericton real estate market.
The pandemic was not able to cool off the hot market.
According to the numbers released by the Fredericton real estate board, 2,660 homes were sold in Fredericton last year, up 7.9% from 2019. This was the first time in history of the Fredericton market that it surpassed 2,500 sales.
The average price was $207,252 up 10.3% from last year.
And at the end of December, there were only 380 homes for sale, a large decline of 42.2% from December 2019. This is the lowest inventory at the end of December in more than two decades.
So, this is a good time to sell your home. And for buyers there is also good news for you – mortgage interest rates are at a record low as well.