Phone: 506-866-4654
Toll Free: 866-585-2022

Moncton’s Real Estate Housing Outlook

Real Estate Market Outlook

What’s happening in our neck of the woods? ( Moncton, NB)

Some of our team members had a chance to attend a very informative CMHC seminar yesterday concerning the Housing Outlook*.

We have picked up many interesting facts in which I will summarize. Here are the facts that I feel are very important for anyone affected by our real estate market*.

First off, did you know?

* Since 2001 that there is an average of 1491 individuals in annual migration to Moncton
* The Population of Greater Moncton is approximately 140 000
* In 2012 there was 74 600 of the population that was employed
* Rates are at a historical low
* For the past 10 years, the new constructions have been at an average of 538 / yearly
* The new multi units (apartment starts) are at a 15-year high at 508 in 2012
* The vacancy in 2011 was at 4%

Some additional comments that were made:

* Moncton’s new single family dwelling is about ½ price of what the average cost of a new single family dwelling is in Halifax NS

* The average new dwelling in Moncton NB sold for 276 130$ in 2011 compared to 257 320$ in 2010

* The existing single family dwelling sold for 157 992$ compared to 150 024$ in 2010 (slight decrease in MLS average price)

* From 2001 to 2012 MLS rose by 4.9%

Predictions:

* There should not be a lot of movement in price in 2012 as the supply is up however the rates are still at a historical low

*The vacancy is expected to climb up due to the number of new multi unit starts

Any questions, do not hesitate to contact us at expertgrp@nb.aibn.com

~

Remembrance Day: Lest we forget

We always have our emails / cells phones to serve you however this is a simple reminder that the Expert Mortgage Group office will be closed on Monday November 12th 2012 as we honor our fallen solders that fought for our freedom…

Let’s take a moment to remember…

~

* The information provided is the best of our knowledge based on the information received as of November 7th, 2012