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.