House price bubble? Not in Moncton. Year to date sales are up. Sales to listing ratio is strong. The only area where the average sale price is down somewhat is Moncton East, mainly due to a large number of sales in the lower price range dragging down the average. Moncton North continues to be the most expensive area of the city.
I caution that average price information can be useful in establishing trends over time, but does not indicate actual prices in areas comprised of widely divergent neighborhoods.
| 2007-02 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Listings | Sales | Sales/Listings Ratio | Average Sale Price | |||||
| Area | Feb | YTD | Feb | YTD | Feb | YTD | Feb | 12 Month |
| MC | 26 | 63 | 22 | 43 | 85% | 68% | $132,068 | $128,131 |
| ME | 21 | 42 | 17 | 28 | 81% | 67% | $135,376 | $159,639 |
| MN | 18 | 46 | 15 | 29 | 83% | 63% | $181,153 | $175,649 |
| MW | 1 | 5 | 2 | 4 | 200% | 80% | $156,450 | $136,717 |
| Total | 66 | 156 | 56 | 104 | 85% | 67% | ||
2006-02 | ||||||||
| MC | 24 | 53 | 22 | 40 | 92% | 75% | $122,018 | $121,329 |
| ME | 22 | 46 | 12 | 22 | 55% | 48% | $136,546 | $148,184 |
| MN | 18 | 46 | 15 | 27 | 83% | 59% | $178,953 | $170,040 |
| MW | 2 | 6 | 1 | 2 | 50% | 33% | $124,000 | $117,767 |
| Total | 66 | 151 | 50 | 91 | 76% | 60% | ||
1 comment:
Great idea to have a blog like this for the Moncton real estate market, Larry. :)
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