Greater Moncton Home Prices Still Climbing
MONCTON–A lack of homes for sale in the Greater Moncton area is continuing to push up prices.
The February statistics from Greater Moncton Realtors show the average home price in the region has surpassed $350,000 for the first time ever.
Home sales were robust last month but the number of new properties being listed on the market came in below average again.
Active residential listings numbered 415 units at the end of February, a 32 percent drop year-over-year and the lowest figure for the month in more than three decades.
The number of homes sold was 232 which was a 23 percent decline year-over-year although it was the second highest February ever in total sales.
“MLS home sales were very strong last month while the number of newly listed properties once again came in below average for this time of year,” said Ryan Davison, president of Greater Moncton Realtors.
“Ultimately, the trend in our region has not changed. If current market conditions persist, extremely low supply combined with strong demand will continue to keep prices elevated for the foreseeable future.”
Year-to-date, 445 homes were sold in January and February which is a 19 percent drop from the same period in 2021.
Allan Dearing is a reporter with 91.9 The Bend in Moncton, a Huddle content partner.