Above-average home sales and meager inventory continued in Greater Saint John during the month of April.
New numbers from the Saint John Real Estate Board show there were 221 homes sold throughout the month.
That remains above the five-year and 10-year averages but was down month-over-month and year-over-year.
“As was the story with most of the boards and associations in New Brunswick, sales totals were the second-highest for any April on record,” Kevin Donovan, president of the Saint John Real Estate Board, said in a news release.
“For the most part, the song remains the same as previous months, with above-average sales, average new listings, and very low overall inventory.”
The region saw a month-over-month increase in new listings with 341 homes coming to market in April compared to 287 the month before. That was down nearly 17 per cent over the same period last year when 418 homes hit the market.
Meanwhile, the number of active listings reached 447 at the end of April, compared to 357 a month earlier. But that was still much lower than the same time in 2021 when there were 638 active residential listings on the market.
In fact, the number of active listings has not been this low in the month of April in more than two decades.
“Market balance has been persistently in favour of sellers for many months and as long as current conditions remain unchanged, this trend will likely carry through the remainder of the spring market,” said Donovan.
The average price of homes sold in April was $304,159, an increase of nearly 15 per cent from a year earlier, but it dropped slightly from the record $306,419 recorded in March.
The Saint John Real Estate Board covers the southern part of New Brunswick to the U.S. border in St. Stephen and includes the counties of Saint John, Kings, Charlotte and portions of Queens.
