I received the February sales report for the Greater Moncton Real Estate Board today and the numbers are encouraging. We are solidly ahead of 2009 levels but not quite up to 2008 yet.
The number of expired listings arre down and our new listings are up 7% which is all good news. Most of us are desperate for some new inventory and so an increase in listings is welcome. There are currently 2442 properties for sale in the area.
Our dollar volume YTD is up 16% from 12 months ago and the unit sale are up 15%. Average sale price has climbed to $167,464 up nearly 9% from last year. I don't think we need to worry about a housing bubble or anything but it is nice that we are still seeing steady growth as the politicians tell us we are coming out of the recession that pretty much didn't find us.
Don't forget about the rule changes coming to a mortgage near you on the 19th of April. If you are buying something you don't plan on living in like an investment property or a cottage, better check in with your favorite mortgage person to see how it might effect you. You may need to double up your down payment.