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.
The arrival of March traditionally brings lots of new real estate activity to markets all across the country. This is the time of year when families are most likely to purchase a new property, so they can ensure an easier relocation during the summer. As a result, almost every community will see an influx of buyers looking for new homes.
To give you an update of what is happening in the market, the average house sale price year-to-date is $189,996, up 5.4 per cent compared to last year’s $180,252.
In January and February, 220 houses changed hands which translated to a total of $37.9 million. The total sales for the first two months showed a drop of 20 per cent compared to 275 houses that were sold during the same period last year.
In February alone, house sales plummeted 26 per cent from the same month in 2017. There were 122 houses sold last month versus 164 units sold in February last year.
If you are wondering about taking advantage of this market or you happen to know someone who is, give me a call. I can help navigate this year’s spring market and ensure any purchase and/or sale goes smoothly.
Let’s look at what happened in the Fredericton real estate market in January: A total of 97 houses changed hands, down 13 per cent compared to same month last year. The total sales for January translated to a total of $16.19 million.
January’s average home price was $190,431, which edged up 4.85 cent compared to the same month in 2017.
I would also like to greet you a happy Family Day in advance! With the new public holiday taking place on Feb. 19th, I hope you’ll take advantage of this extra day off to spend time with your loved ones and get a break from the long winter season.
As we get closer to spring, February is a good month to plan your home buying or selling. There are a myriad of details to worry about: selling your current property, finding a new home, getting financing, checking out local schools, hiring a moving company – the list goes on and on.
That’s where I come in. I’ll answer any questions you may have and provide you with advice and suggestions to make the home selling/buying process easy and trouble-free.
There are many reality shows on television these days. A few even focus on real estate. These programs often feature the nerve-racking tension between homeowners desperately trying to list and sell their homes. Every minute is filled with anxiety, arguments and mishaps.
Keep in mind that these reality shows are designed to be an emotional roller-coaster ride. But your next move doesn’t have to be.
So, if you’re thinking of buying or selling, give me a call. I’ll show you how smooth and stress free the process can be
And part of your planning is to know your market, so here’s a few numbers to keep you well informed about your area.
In 2017, a total of 2,432 houses were sold, up five per cent from the previous year. The sales last year translated to a total of $419.46 million.
The average price of houses sold in 2017 was $192,041, which increased by one per cent compared to 2016.
This holiday season, let me take the opportunity to say, “Thank you”. The year is almost over and although you may be very busy this month, you’re probably spending some time thinking about what you’d like to accomplish in the coming year.
As you plan for 2018, it helps to look back at the past 12 months. It’s the same in real estate. Reviewing the market trends helps us make decisions for our future investments, so let me give you a brief update of what happened in the Fredericton market from January to November 2017.
A total of 2,316 houses changed hands from January to November, up four per cent compared to the same period last year. The total value of these sales is $400.92 million up five per cent compared to the same period last year.
The average price of houses sold in November 2017 was $192,629, higher by 1.26 per cent compared to November 2016.
In an extension of trends for 2017, average prices of homes in New Brunswick in 2018 are forecast to rise, which is more than the rate of consumer price inflation in the province, according to the Canadian Real Estate Association.
Whatever your goals and dreams are for 2018, I wish you all the best in achieving them. If any of those aspirations have to do with your home, give me a call. I may be able to help.
Warmest wishes to you and your family. I look forward to staying in touch in the New Year.
Wishing you a Merry Christmas and Happy holidays!
Buyers are using the internet to search for properties more than ever before. In some cases, they can even go on a “virtual” tour of a home using their smartphone or desktop computer. So, you might be wondering if the old-fashioned Open House still works these days?
The answer is yes. Otherwise, you wouldn’t see them advertised. If Open Houses didn’t work, no one would be doing them!
No matter how good the internet gets, it can’t compete with a buyer being able to visit a property in person, walk through the rooms, stand in the backyard and imagine himself BBQ-ing with his family, stroll the area, and meet neighbours.
An Open House makes it easy for buyers to do just that. It’s an open invitation for them to come by at a specific date and time, to see the property and chat with the REALTOR®. It’s a casual environment, which
many buyers prefer. Some buyers, in fact, are more comfortable going to an Open House before scheduling a private viewing.
Will you need an Open House to sell your home?
That depends on a lot of factors. When I work with clients, I put together a marketing plan designed to sell the property quickly and for the best price possible. Depending on the circumstances, that may or may not include an Open House.
If you have questions about what would be involved in a quick and successful sale of your home, contact me. I’d be happy to chat and answer your questions.
Residential sales recorded by the Real Estate Board of the Fredericton Area Inc. were up from a year earlier in October 2017.
Residential property sales numbered 158 units in October, an increase of 8.2% from the same month last year. This was the highest number of sales for the month of October since 2007 and the third highest ever.
Year-to-date residential property sales numbered 1,898 through the first ten months of 2017, up 5.1% from 2016 and an eight-year high for the period.
October 2017 sales priced from $150,000 to $250,000 were up 13% (4 sales) on a year-over-year basis, while sales in the range from $250,000 to $350,000 rose 54.5% (6 sales). The number of sales priced between $350,000 and $500,000 dropped by 66.7% (2 sales) and there was one more sale priced above $500,000.
The residential average price was $169,754 in October 2017, up 6.5% from October 2016. The less volatile year-to-date average price was $182,169, edging up just 0.4% from this time last year. The bigger picture on prices is that they have been more or less stable over the last six years.
New listings numbered 290 units in October 2017. This was a 14.6% increase from a year earlier.
The bounce in new supply notwithstanding, overall supply has been trending downward over the last two years. There were 1,187 active residential listings on the Board�s MLS® System at the end of October, down 15.1% from levels recorded a year earlier.
There were 7.5 months of inventory at the end of October 2017, down from 9.6 months at the end of October 2016 and below the long-run average 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 value of all residential sales activity in October 2017 was $26.8 million, up 15.3% from year-ago levels.
Sales of all types of properties numbered 188 units in October, up 16% on a year-over-year basis. The combined value of all property sales totalled $30.4 million, up 21.8% from October 2016.
Credits: Exit Realty Advantage