Home sales rise 2.2% in August

A recent report from the Real Estate Board of the Fredericton Area Inc. offers a detailed overview of the housing market’s performance in August 2024, highlighting key trends within the region.

In August 2024, a total of 230 homes were sold through the MLS® System, reflecting a 2.2% increase over the same period last year, signaling relatively stable market activity.

The report also noted a 2.5% decrease in new listings compared to the previous year, with 274 properties coming to market. The average home price, however, saw a modest increase of 3.5%, rising to $328,669 compared to August 2023.

Year-to-date data for the first eight months of 2024 indicates a 2.4% rise in total home sales, totaling 1,656 transactions. Total listings increased by 7.4%, reaching 2,349. Meanwhile, the average home price experienced a more substantial increase, climbing 5.8% year-over-year to $342,289.

Additionally, the total dollar volume for August 2024 reached an impressive $566,830,008, marking an 8.3% increase compared to the same month in 2023, setting a new record for August in terms of dollar value.