Saint John Home Sales Hit 13-Year High For November
SAINT JOHN – Home sales hit a 13-year-high for the month of November with 175 units sold across the Saint John region, a 14.4 per cent increase over November of 2017.
On a year-to-date basis, the Saint John Real Estate Board said sales were actually down across the region – 1,968 units were sold during the first 11 months of the year, a drop of 1.3 per cent from the same period in 2017. But prices continued to climb, said Sherry Sheldrick, president of the real estate board.
The average price of homes sold in November 2018 was $197,463, jumping 21.9 per cent from November 2017. The more comprehensive and less volatile year-to-date average price was $187,253, up 6.3 per cent from the first 11 months of 2017.
“Home sales continue to run at some of the highest levels ever recorded, with only November 2005 beating the November 2018 sales figure,” said Sheldrick. “Meanwhile, with listings in the region sitting at a decade-low, prices continue to push higher.”
There were 160 new residential listings in November 2018. This was a large decline of 35.5 per cent on a year-over-year basis and the lowest number of new listings to hit the market in the month of November since 2004.
Active residential listings numbered 1,283 units at the end of November. This was down 24.5 per cent