Photos from Larry Estabrooks, Licensed Independent Agent
Sunrise Trail, Mcdowell Sonoran Preserve, City of Scottsdale - steepest part of the trail - February 2008Located in: Scottsdale, AZ
Figures released by the Province of New Brunswick indicate that once again Moncton edged out Saint John as the provincial municipality with the largest property assessment base. Fredericton is in third place.
Since last year Moncton's assessment base grew by 7.9% to just over 5 1/2 billion dollars.
The full news release is here: http://www.gnb.ca/cnb/news/gl/2008e1746gl.htm
Upon reviewing the MLS® report for October published by the Canadian Real Estate Association it seems the Saint John area residential real estate market may be moving towards a buyer's market.
October residential MLS® unit sales were down 14.7% from October 2007 and have brought the year-to-date total down by 1.5%. The average sale price was up 6.9 % for October in contrast to the 12.8% increase recorded year-to-date. New listings year-to-date are up 4.6% over 2007.
In New Brunswick residential MLS® unit sales were down 19.7% while Canada recorded 27% fewer residential MLS® unit sales than in October 2007.
Upon reviewing the MLS® report for October published by the Canadian Real Estate Association it seems the Fredericton area residential real estate market may be moving towards a buyer's market.
October residential MLS® unit sales were down 36.5% from October 2007. This contrasts to the 11.3% reduction in the average sale price year-to-date in the Fredericton area.
Residential dollar volume was down 31.7 % resulting in an increase in the average sale price of 7.6% for October. This last number is consistent with the average price increase of 8.5% year-to-date for the Fredericton area.
In comparison, residential MLS® unit sales in New Brunswick were down 19.7% while Canada recorded 27% fewer residential MLS® unit sales than in October 2007.
Provided the news reports are accurate, the Government of Canada made a smart move by purchasing 25 billion dollars worth of residential mortgages which are insured by the Canada Mortgage and Housing Corporation. This is a sound investment at this time because Canadian insured mortgages offer a guaranteed rate of return.
Canadian mortgage lenders will now be able to continue offering residential mortages to their homebuying clients. The world wide credit crunch might have affected Canadian mortgage lenders ability to fund residential housing purchases in Canada.
This is good news for Canadian home buyers and Canadian real estate professionals.
In New Brunswick, multiple starts (which include semi-detached homes) are up 11.2% while single detached starts are up 2.9% resulting in a 6.7% increase in the total number of all unit starts.
In September Saint John lead the province with 131 total starts.
Moncton's year to date decline of 16% in single family starts is responsible for all but 4 of Moncton's lower start total.
Moncton continues to lead in total starts year to date with 1,009, followed by Saint John with 669 and Fredericton with 515.
Multiple starts as a percentage of all starts year to date is 45% in Saint John, 59% in Moncton and 29% in Fredericton.
Larry Estabrooks is a licensed independent real estate agent residing in Moncton, New Brunswick
If you would like to discuss any real estate topic my contact information is here: www.MonctonAgent.com/contact.htm
(preliminary figures provided by Canada Mortgage and Housing Corporation)
| 1095- - 985- - 876- - 766- - 657- - 547- - 438- - 328- - 219- - 109- - 0- |
|||||||||||||
| Saint John | Moncton | Fredericton | Other | ||||||||||
 |
|
|
I'm a veteran real estate agent in Moncton, New Brunswick blogging about the real estate market, homes, relocation, agency, house construction, what's great about Moncton, Dieppe, Riverview, Shediac -
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2008 ActiveRain Corp. All Rights Reserved
