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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.

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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?

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| All single family detached homes | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| DEC-2007 | 162723 | 155865 | 96% | 106 days | 52 |
| NOV-2007 | 167505 | 160899 | 96% | 73 days | 83 |
| OCT-2007 | 163885 | 157652 | 96% | 66 days | 95 |
| SEP-2007 | 161335 | 155130 | 96% | 69 days | 86 |
| AUG-2007 | 167864 | 162087 | 97% | 70 days | 114 |
| JUL-2007 | 168606 | 162964 | 97% | 64 days | 129 |
| JUN-2007 | 162573 | 157100 | 97% | 75 days | 159 |
| MAY-2007 | 171214 | 165249 | 97% | 67 days | 135 |
| APR-2007 | 163928 | 158632 | 97% | 70 days | 117 |
| MAR-2007 | 165831 | 158584 | 96% | 68 days | 99 |
| FEB-2007 | 161271 | 155902 | 97% | 73 days | 96 |
| JAN-2007 | 167174 | 160526 | 96% | 84 days | 77 |
| Averages: | 165547 | 159543 | 96 % | 72 days | 1242 |
| Single family detached bungalow | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| DEC-2007 | 134000 | 127675 | 95% | 100 days | 16 |
| NOV-2007 | 143385 | 137131 | 96% | 60 days | 27 |
| OCT-2007 | 136425 | 131375 | 96% | 51 days | 20 |
| SEP-2007 | 148417 | 142429 | 96% | 50 days | 27 |
| AUG-2007 | 133455 | 128286 | 96% | 48 days | 40 |
| JUL-2007 | 152937 | 146770 | 96% | 55 days | 41 |
| JUN-2007 | 144919 | 139492 | 96% | 63 days | 54 |
| MAY-2007 | 143881 | 139115 | 97% | 46 days | 36 |
| APR-2007 | 138043 | 133422 | 97% | 53 days | 28 |
| MAR-2007 | 145871 | 140055 | 96% | 56 days | 28 |
| FEB-2007 | 143013 | 138077 | 97% | 68 days | 31 |
| JAN-2007 | 147772 | 142165 | 96% | 80 days | 32 |
| Averages: | 143360 | 137882 | 96 % | 59 days | 380 |
| Single family detached 2 storey | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| DEC-2007 | 224609 | 217345 | 97% | 120 days | 11 |
| NOV-2007 | 228264 | 220559 | 97% | 76 days | 22 |
| OCT-2007 | 214229 | 205888 | 96% | 85 days | 24 |
| SEP-2007 | 212653 | 206350 | 97% | 69 days | 15 |
| AUG-2007 | 212955 | 205482 | 96% | 93 days | 33 |
| JUL-2007 | 213397 | 208022 | 97% | 60 days | 34 |
| JUN-2007 | 198689 | 192790 | 97% | 86 days | 44 |
| MAY-2007 | 222376 | 215353 | 97% | 90 days | 37 |
| APR-2007 | 232396 | 223607 | 96% | 80 days | 27 |
| MAR-2007 | 206352 | 199569 | 97% | 52 days | 29 |
| FEB-2007 | 206440 | 201125 | 97% | 90 days | 20 |
| JAN-2007 | 225702 | 214656 | 95% | 76 days | 16 |
| Averages: | 214987 | 207904 | 97 % | 80 days | 312 |
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