A historic year for the Moncton real estate market continued on a red-hot pace through September, with 421 units sold.
Over the last decade, activity in the region during September surpassed 300 sales only three times.
“MLS® home sales were far above historical averages for this time of year, falling only two sales short of tying the record for the month of September,” said Ryan Davison, President of the Greater Moncton REALTORS® du Grand Moncton.
Another above-average month keeps the region on a torrid pace, with 3,532 units sold this year.
Despite a strong year in which sellers are often the beneficiaries, previous concerns about availability have resurfaced.
“New listings were unable to keep pace with sales for the first time since early 2021 and as a result, active listings declined,” said Davison.
“Unseasonably strong demand combined with dwindling available inventory has increased market tightness and driven both the MLS® HPI composite benchmark price and average price to new all-time highs.”
At the end of September, the remaining active listings totalled 811, a significant decline compared to the same period last year.
According to MLS®, the current inventory would last less than two months at the current rate of sales.
