Courtesy of The Dynamic Duo

Lack of available listings dampen MLS ® home sales in the Fredericton Area during the month of April

$279,900 residential DOWN 4.2% year-to-year

BENCHMARK PRICES

273 NEW LISTINGS

76.2% SALES TO NEW LISTING RATIO

2.2 MONTHS OF INVENTORY

ACTIVE LISTINGS 458

208 SOLD LISTINGS

limited supply will likely result in multiple offers on the more desirable properties. Consequently, this can create upward pressure on prices which in turn may encourage more sellers to list their properties as spring transitions to summer.” The overall MLS ® HPI composite benchmark price was $279,900 in April 2023, a moderate decrease of 4.2% compared to April 2022. There were 273 new residential listings in April 2023. Active residential listings numbered 458 units on the market at the end of April. Months of inventory numbered 2.2 at the end of April 2023. Statistics reflect market activity in April 2023 | Source: Real Estate Board of the Fredericton Area Inc. Market values stated are of the benchmark of the city of Fredericton. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

Fredericton, May 2023 – The number of homes sold through the MLS ® System of the Real Estate Board of the Fredericton Area Inc. totaled 208 units in April 2023. This was a decrease of 28% from April 2022. “While April MLS ® home sales experienced a 16% increase from March figures they were still lower than sales from the same month in 2022. Furthermore, both new listings and overall inventory were still below the long-run averages for April,” said Michele Morris, President of the Real Estate Board of the Fredericton Area Inc. “The sluggish pace of spring sales can be attributed to the limited availability of inventory. Even though market conditions appear to favor sellers, they may be hesitant to list their property if they cannot find a suitable replacement. Demand remains relatively robust, but the

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