The 440 units sold through Greater Moncton Realtors last month was the most the region has ever recorded in May.
The total value of all the properties sold exceeded $126 million, a record high for May but short of the all-time high set in April.
With the Summer approaching, the organization will look to capitalize on what has historically been a strong period for the housing market.
Ryan Davison is the President of the Greater Moncton Realtors.
“You would see a rush in the early summer and then people would start taking their summer vacation, then once the kids are back in school around labour day, you would see it pick back up again,” said Davison about home sale trends.
“I don’t anticipate people stopping looking for houses in an inventory-challenged market just because it’s summer vacation time.”
Moncton’s red-hot housing has been partially fueled by a low number of properties hitting the market.
“While still at a very low level, we can now confidently state that active listings have reached a bottom and are slowly starting to build to more sustainable levels.”
The number of new listings rose last month, however overall inventory for the month of May was at a three-decade low.
