Sales were down by 9% in March 2024 compared to the previous year.
In March 2024, sales in the south-east region of New Brunswick experienced a noticeable decline, with a 9% decrease compared to the previous year. A total of 308 properties were sold during this period, reflecting this downturn. However, despite this decline, the overall picture for the year so far shows some positive trends. There has been a 3% increase in the number of properties sold, with 815 properties reported sold at the MLS Board. More significantly, there has been an 18% increase in the total dollar value of properties sold since 2024 began.
The average value of homes in south-east New Brunswick for March 2024 was $355,895, with an average listing period of 67 days. Despite these figures, the region is experiencing a shortage of available properties for sale, with only 1,823 properties listed at the end of March 2024. However, there has been a slight increase in new listings, with 567 new properties listed at the MLS Board during the previous month, marking a 12% increase compared to the same period last year. Consequently, the total number of new listings for the year has risen by 17% compared to 2023, totaling 1,445 properties listed for sale
in 2024.
The list-to-sale ratio for March was 57%, down 22 points from the previous year. This indicates a shift towards a more balanced local market, as fewer properties are being sold compared to those listed.
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