What is happening in the Metro Moncton-Dieppe-Riverview real estate market so far this year?

• Unit sales of existing residential properties reported year-to-date to the end of May have not broken the 500 mark for three years. (see my graph below)
• The average sale price of existing properties year-to-date ($175,538) is an all time high though the increase from the same period last year is a modest 2.5% .
• The averages for sales to list ratio and days on the market are unchanged from last year.
• Year-to-date new housing unit sales reported are at an all time high. This is noteworthy compared to sales of existing homes. 30% of all residential unit sales reported year-to-date have been new construction.
  

A real estate agency / brokerage offers its clients full representation and undivided loyalty. All sounds good and the consumer signs a representation agreement.

Some time later the agency / brokerage asks the client to sign a multiple representation / dual agency agreement. What now? The client does not wish to jeopardize a potential transaction. Caught in a predicament and often without the benefit of independent advice, with some reluctance the client agrees to weaker representation.

Up front, consumers should ask about the real estate agency / brokerage policy on multiple representation. Consumers have a right to choose full representation throughout the real estate process. Consumers have every right to just say "NO" to double agency.

In Canada, August 15th is officially designated as National Acadian Day and in New Brunswick, Canada's only officially bilingual province, Acadiens and Acadiennes celebrate their culture, heritage and history. And of course others are encouraged to attend the festivities.

In my household we mark the special day because my wife is Acadienne. Thus my sons are of Acadian descent. One son also married an Acadienne and they have a daughter.

• Dieppe - Festivities are integrated with the last day of the Dieppe Kite International, providing even more variety and choices for the public. The Tintamarre parade will depart the Champlain Place mall parking lot at 5 p.m. and head to the festival site, Dover Park in Dieppe.
• Moncton - Celebrate August 15 at Moncton City Hall - an official flag raising and a FREE show by Art Richard and family, featuring children's music and traditional Acadian tunes. The fun begins at noon, on Sunday, August 15.

Here's the Acadian flag flying in my front yard garden.

My Metro Moncton Residential Market Report includes the cities of Moncton and Dieppe as well as the Town of Riverview.

I've prepared the graph below to illustrate that metro units sales in the last 90 days of 2010 have been the lowest of the last four years. The average days on market of these sales is running at over 100 days, a record high for the period.

If you would like to discuss these metro Moncton real estate market statistics or any other real estate topic, feel free to call me at 506.856.0202

What's billed as the largest sporting event ever held in Atlantic Canada officially open last night in Moncton. The International Association of Athletics Federations World Junior Championships 2010 places Moncton and it's new stadium on the world stage.

The 400 meter, eight lane track has a Mondo FTX surface, the same artificial surface used at the Beijing Olympics. The events will be televised and the broadcast picked up by countries around the world. The CBC offers coverage each day of the competition on the main network and CBCSporta.ca, where you will find the schedules . It is also availabe in High Definition on CBCHD. The time slot is after midnight so you might want to record it. Look for "Track and Field". There is also daily coverage on the CBC Bold cable channel.