Tuesday, January 25, 2011

Fredericton Home sales post best December on record
(from statistics provided by the Canadian Real Estate Association)

Residential sales in the Fredericton area served by the Real Estate Board of the Fredericton Area Inc. set a new record for activity in the month of December in 2010.

Home sales numbered 112 units in December, rising six per cent from a year earlier. In contrast, sales in all of New Brunswick declined 18 per cent from levels reported in December 2009. Annual home sales activity totalled 2,086 units in 2010. This was down four per cent from 2009, largely due to weak demand in April and May compared to the same two months one year earlier.

The residential average price was $142,642 in December 2010, rising four per cent from a year earlier. The annual average price figure also increased four per cent, coming in at $165,175 in 2010. Meanwhile, the average price for home sales in all of New Brunswick was $142,813 in December 2010. This was down four per cent from the same month in 2009.

New listings on the Board’s MLS® System numbered 212 units in December 2010, up 20 per cent from year-ago levels. There were 970 active residential listings on the Board’s MLS® System at the end of the year, up seven per cent from the end of 2009.

There were 7.1 months of inventory at the end of 2010 on a seasonally adjusted basis. This was down from 7.9 months in November, and marks the lowest level since March. 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.

Total sales activity numbered 132 units in December, rising nine per cent on a year-over-year basis. The combined value of all property sales totalled $17 million, an increase of 12 per cent from December 2009.

The Real Estate Board of the Fredericton Area Inc. represents 280 agents, salespeople and affiliate members throughout the provincial capital area.

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