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With two thirds of 2008 now past, the real estate market in Metro Moncton and surrounding area continues to reinforce its reputation for stability.
In order to make sense of the local real estate market,
use
the services of a professional advisor.
Please contact me to assist you,
you'll be glad you did.
Larry Estabrooks, Licensed Independent Agent, REALTOR®
Making sense of the local real estate market.
| Residential MLS ® Statistical Report - to
August 31 2008 (source: Greater Moncton Real Estate Board) |
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|---|---|---|---|---|---|---|---|---|
| 2008 | 2007 | |||||||
| Listings | Sales | Sales to Listings Ratio |
Average Sale |
Listings | Sales | Sales to Listings Ratio |
Average Sale |
|
| Area | YTD | YTD | 12 Month | YTD | YTD | 12 Month | ||
| MC | 413 | 254 | 62% | $140,912 | 425 | 266 | 63% | $129,855 |
| ME | 277 | 179 | 65% | $164,173 | 243 | 160 | 66% | $160,009 |
| MN | 280 | 167 | 60% | $192,829 | 285 | 194 | 68% | $183,503 |
| MW | 27 | 26 | 96% | $151,514 | 40 | 27 | 68% | $164,817 |
| (997) | (626) | (993) | (647) | |||||
| DC | 107 | 57 | 53% | $179,118 | 108 | 83 | 77% | $180,564 |
| DH | 95 | 64 | 67% | $204,870 | 130 | 78 | 60% | $213,783 |
| DE | 21 | 15 | 71% | $128,708 | 25 | 8 | 32% | $126,377 |
| DF | 100 | 52 | 52% | $201,921 | 98 | 45 | 46% | $181,859 |
| (323) | (188) | (361) | (214) | |||||
| RC | 74 | 46 | 62% | $166,908 | 93 | 67 | 72% | $172,466 |
| RE | 58 | 27 | 47% | $151,502 | 55 | 43 | 78% | $135,839 |
| RW | 124 | 96 | 77% | $149,963 | 115 | 72 | 63% | $143,119 |
| (256) | (169) | (263) | (182) | |||||
| RM | 73 | 34 | 47% | $163,412 | 67 | 29 | 43% | $144,386 |
| RR | 40 | 19 | 48% | $215,568 | 43 | 25 | 58% | $152,392 |
| RD | 75 | 37 | 49% | $107,791 | 51 | 34 | 67% | $102,373 |
| (188) | (90) | (161) | (88) | |||||
| Total | 1764 | 1073 | 61% | 1778 | 1131 | 64% | ||
|
MC=Moncton Center, ME=Moncton East, MN=Moncton North, MW=Moncton West |
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|
DC=Dieppe Center, DH=Dieppe Chartersville, DE=Dieppe East, DF=Dieppe Fox Creek |
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| RC=Riverview Center, RE=Riverview East, RW=Riverview West | ||||||||
| RM=Rural Moncton, RR=Rural Riverview, RD=Rural Dieppe | ||||||||
The location and some details for Casino New Brunswick, a destination casino, hotel and multi-use entertainment and convention centre to be built in the Magnetic Hill area of the City of Moncton were released today by the Province of New Brunswick and Sonco Gaming New Brunswick Limited Partnership.
The casino complex will be comprised of three completely separate and distinct buildings - a hotel, the Palladium (a multifunction entertainment and convention centre), and the casino - all integrated into one linear design. The buildings will be connected by an interior corridor that allows internal access to all three buildings.
The Province of New Brunswick recently approved a bid that will result in the construction of what will be the only casino in the Province.
The reportedly $90,000,000 destination casino and 128 room hotel will be built on a 70 acre parcel of land located a few hundred feet outside of Moncton city limits and adjacent to the Trans Canada Highway. In addition to being our first casino, a development of this scale outside of the downtown area is unprecedented in our real estate market. In the immediate area of the casino parcel several smaller parcels of vacant land and some residences are currently for sale.
Based on your real estate experience, what effect do you expect the new development will have on property values in the immediate area of a new casino complex?
Once every four years New Brunswick citizens residing in municipalities and local service districts of various sizes exercise their right to vote by choosing local leaders. These leaders enact zoning bylaws, set rates for property taxes and enact local legislation, all of which affect property owners. Of course there are often other issues, but municipal spending is the one that impacts property owners directly.
In our general area about 65% of all households own the property in which they live. So what would one expect to be a reasonable percentage of eligible voters who took the time to vote? It varies widely, as you can see below.
Larry Estabrooks is licensed as an independent real estate agent in Moncton, New Brunswick
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I'm a veteran New Brunswick real estate agent blogging about the real estate market, homes, relocation, agency, house construction and what's so great about Moncton, Dieppe, Riverview, Shediac, ...
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