Courtesy of The Charron Real Estate Team

New Brunswick Real Estate Board reports sixth consecutive monthly increase of MLS ® home sales in June

$308,200 residential

UP 7.8% year-to-year

BENCHMARK PRICES

338 NEW LISTINGS

81.7% SALES TO NEW LISTING RATIO

2.1 MONTHS OF INVENTORY

ACTIVE LISTINGS 587

276 SOLD LISTINGS

Fredericton, July 2024 – The number of homes sold through the MLS ® System of the New Brunswick Real Estate Board totaled 999 units in June 2024. 276 of those were in Fredericton. At the local level home sales activity posted a decline in Fredericton (-2.5%) on a year-over-year basis. “MLS ® home sales maintained their upward momentum in June, marking the sixth consecutive month-over-month increase. Despite this growth, the number of newly listed properties declined slightly from May, falling below the long-run averages,” said Mike Power, Chair of the New Brunswick Real Estate Board. “The MLS ® HPI Benchmark Price also continued its upward trajectory, extending an unbroken streak of gains that began at the start of 2024. With new listings outpacing sales, the number of available homes rose slightly and is now in line with the 5-year average

for the month. This sustained growth reflects the ongoing strength and resilience of the resale market in New Brunswick. Looking ahead, the market faces uncertainty with the possibility of one or two more rate cuts on the horizon. Only time will tell if the majority of buyers who have been sitting on the sidelines will re-enter the market when forward guidance is clearer.” There were 338 new residential listings in the Fredericton region in June 2024. Active residential listings in the area numbered 587 units on the market at the end of June. Statistics reflect market activity in June 2024 | 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.

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