Below is a snapshot of what happened in the Fredericton market in the first seven months of the year.
Fredericton home sales post second-best July on record
Residential sales recorded by the Real Estate Board of the Fredericton Area Inc. totaled 276 units in July 2019. While this was a decrease of 19.3% from the monthly record set in July 2018, it was still the second-best month of July ever in the region.
On a year-to-date basis, home sales totaled 1,565 units over the first seven months of the year, an increase of 18.7% from 2018. 2019 is currently trailing only 2007, and not by much, putting it in the running to be a record year for sales activity.
The average price of homes sold in July 2019 was $186,424, down 5.6% from July 2018.
The more comprehensive year-to-date average price was $192,222, up 1.9% from the first seven months of 2018.
September is typically a busy month for homeowners.
Kids go back to school. Work increases at many businesses as the fourth quarter looms. Major home renovation projects are in the midst of wrapping up, and smaller projects may be about to start!
If there’s anything I can do to help with questions, contractor referrals, advice, or information related to real estate, give me a call.
In fact, that’s the reason I stay in touch with you on a regular basis. I want to continually remind you that my services don’t end once I’ve helped you buy or sell a home. In the months and years in between transactions, I’m dedicated to helping you enjoy your home and understand your real estate options.
So, if you need help or advice, get in touch with me. That’s why I’m here!
Fredericton home sales moderate to more average levels in June
Residential sales recorded by the Real Estate Board of the Fredericton Area Inc. totaled 286 units in June 2018. This was down 9.5% from June 2017 and was almost exactly in line with both the five and 10-year averages for the month.
On a year-to-date basis, home sales totalled 920 units over the first six months of the year. This was down 5.8% from the same period in 2017.
The average price of homes sold in June 2018 was $203,109, rising 11.8% from June 2017.
The more comprehensive year-to-date average price was $179,830, up 4.3% from the first six months of 2017.
There were 378 new residential listings in June 2018. This was down 8% on a year-over-year basis.
Overall supply has trended lower since mid-2015. Active residential listings numbered 1,749 units at the end of June. This was down 5.9% from the end of June 2017 and marked the lowest level for this time of the year since 2005.
Months of inventory numbered 6.1 at the end of June 2018, little changed from the 5.9 months recorded at the end of June 2017 and below the 10-year average of 7.3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The dollar value of all home sales in June 2018 was $58.1 million, edging up 1.2% from the same month in 2017. This was new record for the month of June.
Sales of all property types numbered 308 units in June 2018, down 8.9% from June 2017. The total value of all properties sold was $60 million, edging up 2% from June 2017.
How often do doctors recommend you get a checkup? Usually, once a year. How regularly do advisors suggest you review your investments? Most say at least annually. So how often should you review your home with your real estate agent? You guessed it! Once a year! Why is that review so important? First, your home is a big investment; possibly your biggest. So, it’s smart to get updated on its current market value.
From January to May 2018 , the average sale price was $169,528, up three per cent compared to same period last year. For the same period, there were 697 houses sold, down 6.8 per cent from January to May 2017.
In May alone , the average price was $169,554 and the total volume of houses sold was $33.2 million. These figures were both down 2.4 per cent compared to same month last year.
In addition to being an investment, your home is also a part of your lifestyle. It’s important to review it each year to see if it’s still a good fit for your changing needs.
As your real estate agent, I’d be happy to stop by at your convenience and do an “Annual Real Estate Checkup”. I’ll let you know, approximately, what your property is worth on today’s market, and we can discuss the latest market trends.
Do you remember the last time you were at a really long buffet table? There were probably so many delicious dishes to choose from that you didn’t know where to start. Yet, you had to make quick decisions because the line was moving so fast!
That buffet table is a bit like today’s real estate market. Although you may not be thinking of moving right now, when the time comes, you’re going to find that you have a lot of options available. That means making the right decisions may be difficult.
Knowledge of what’s happening in the market is an important component in your decision-making process. So, here’s some market information for you: from January to April, there were 427 houses that were sold, down 7.7 per cent compared to same period last year. The average price for the first four months was $171,159, up five per cent compared to same period in 2017.
I want you to know that I can help.
In fact, I recommend that you learn about – and understand – all your home selling and buying options now, even if you have no plans to move in the near future. That way, if an opportunity arises and you need to put your property on the market quickly, you’ll be prepared to make the best decisions.
I’d be happy to fill you in. Give me a call.
Did you meet your goals or achieve your resolutions in Q1? There is always something to learn from the first three months to help you navigate your second quarter.
The month of April marks two important changes in the year: taxes and the transition into spring. The end of winter opens up more doors for sellers and buyers in the real estate world. So, to help you in your real estate decisions for the second quarter, let me give you some quick facts about what transpired in the Fredericton real estate market from January to March 2018.
The first quarter of 2018 saw 271 homes sold , up 18 per cent from the same quarter last year; nice production for the start of the year. The total value of homes sold was $46.3 million. The overall average sale price for January to March was $170,726, reflecting an impressive increase of 6.19 per cent from the average price of $160,774 in the same period last year.
If there’s anything more I can do to help maximize the enjoyment of your home – whether you decide to make a move or continue living where you are now – please give me a call.
Being able to find “how to” information online doesn’t necessarily mean you should do it all yourself. In fact, in many cases it’s better to let an expert do it for you. This is especially true when it comes to real estate. Sure, you can try to figure out your home’s current market value on your own. But, if you let an expert do it for you, you’ll end up with a more accurate number — and one that is more tailored to your market and property.