Demand for homes is still quite robust in the region according to Greater Moncton Realtors.
Home sales in Greater Moncton last month had their highest monthly total in almost a year (June 2022) and were on par with the five-year average.
There were 396 units sold in May which was a decline of 7.5 percent from May 2022.
“The number of newly listed properties in May also jumped when compared to April. Overall inventory has increased in recent months, which is welcome news for potential buyers as they now have a wider selection of homes to choose from,” noted Greater Moncton Realtors president Devon Babineau.
“Both the average price and the MLS® HPI benchmark price remained relatively steady in May, reflecting the stability in our local market. Market balance remains in favour of sellers, and with the spring market still in full swing there is no indication that conditions will change heading into the summer months.”
Prices remained relatively stable with the average benchmark just under $323,700 in May 2023, a decrease of 4.5 percent year-over-year although still more than 70 percent higher than three years ago.
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