I would like to thank you all who are tuning into my blog. The statistics I am quoting are directly from the Saint John Real Estate Board’s figures and they accurately tell the story of what is happening in the marketplace. Many are surprised that this year has been as good as last as we had a hard time explaining the increase in business last year, so thought it may not continue, but it has. Total sales in dollar volume from January to the end of July this year is $240,000,000, last year that figure was $228,500,000 (both numbers rounded off)
Here are the breakdown of these sales:
Multi Family $9,056,272
Multi Family $17,789,780
We were consistently behind until July’s very strong figures put us past last year. We were certainly affected by the spring flood situation as it significantly slowed activity for a good 2-3 weeks in late April and the first weeks of May. So a very strong July was in part due to making up for that lost time, as well as a very good June.
Average sale price is up only about 2% on residential sales which isn’t a lot comparing to most Canadian city markets but it is reasonably consistent. And fortunately, very seldom does our market decrease in average price while many can fluctuate drastically.