May 2011 Metro Moncton Real Estate Market Report

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.