The results of the survey show the average price of a standard two-storey home in Moncton was $131,000 in the first quarter of this year, which is the same as it was in the first quarter last year. Detached bungalow prices dropped 1.5% over the same period to reach an average of $150,000 this past quarter.
“Typically Moncton has a fairly balanced market,” said Carla Bouchard, broker and owner of Royal LePage Metro. “Inventory is a little lower than last year, but generally most sellers wait until spring to list their homes.”
She said resale activity has started to make small gains, up around 1% to 2% from last year, although that may relate to the pent-up demand built up over the exceptionally cold winter when many sales were put on hold.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate