Moncton’s Market To Be A Fortress Of Consistency In 2017

In 2016, Moncton sales volume with nearby regions hit a new record which peaked at an extraordinary $458,152,237, which showed a 13 per cent increases in a year with anticipation of the stable performance of the city in the coming year.

During the whole of 2016, the sales volume for Southeastern New Brunswick area (Albert Counties, Kent and Westmorland) was announced by the Greater Moncton Real Estate Board to have gone up to 2,886 transactions by 11 per cent per annum. Board president, Trent Wilkins referred from the latest data from the Canada Mortgage and Housing Corporation that the pace at which Moncton’s rate is growing continues to be far better than either Saint John or Fredericton.

Wilkins said to Huddle Today; “With the numbers going in the right directions, we are anticipating that the more balanced approach to our market will result in positive things for 2017.” He continued saying; “Greater Moncton has been seeing economic activity that supports the direction our market is going in. The economic development officials are all painting a picture to say this trend will continue in the Greater Moncton area and our realtors are ready to serve consumers to get them the property of their dreams.”

The improvement was more obvious when the year-over-year statistics was used as a much better measuring tool of a city’s lasting projections. Wilkins stated; “When we compare the HPI (House Price Index) to our average sale price, it paints a picture that represents an incremental pricing trend increase of 1.87 per cent versus an average sale price that is up 2.3 per cent from 2015. Regardless of the statistics we use, the overall pricing trends saw positive movement upwards in 2016.”

Overall sales in New Brunswick was revealed to have gone up by 7.3 per cent over the year according to the final data disclosed by the Canadian Real Estate Association, with an attached average selling price of $163,793 which went up by 2.1 per cent in a course of one year.