As a REALTOR®, I always make sure to stay on top of the latest news and updates in the Canadian real estate market. I’m happy to share with you some exciting stats from the Canadian Real Estate Association (CREA) and the Fredericton Board of REALTORS® for the month of April 2023.
I know how important it is to keep everyone informed about the current trends and changes in the market, so I make it a priority to get monthly updates and share them with everyone as soon as they become available.
Without further ado, here are some of the key highlights from the April 2023 real estate market.
April 2023 Stats
- Sales Activity
In April 2023, there were 208 homes sold in the Fredericton and Region area, which is an increase of 28% compared to April 2022.
- Active Listings
In April 2023, the total number of active listings was 458, a decrease of 35.1% compared to the same month last year.
- New Listings
In April 2023, there were 273 new listings, an increase of 24.4% compared to the same month last year.
- Months of Inventory
The months of inventory (MOI) is a measure of how long it would take to sell all the active listings at the current rate of sales. In April 2023, the MOI was 2.2 months. This indicates that the Fredericton real estate market is still leaning towards a seller’s market, as an MOI of less than six months typically indicates a seller’s market.
The increase in new listings coupled with the increase in sales activity could be contributing factors to the decrease in active listings and lower months of inventory. It is important to note that the real estate market can vary greatly based on a number of factors, such as location, property type, and local economic conditions.
- Average Price
The average price for homes in April 2023 was $331,374, a 3.4% increase from April 2022.
- Median Price
The median price for homes in April 2023 was $326,750, up by 3.9% from the same month last year.
Stats for the Benchmark types of Single-family homes and Apartments
Please note that these benchmark types are not an exact match to every property type and location in the Fredericton and Region. However, they do provide a general overview of the market trends for single-family homes and apartments in the area.
Overall, the Fredericton real estate market has remained strong with increasing prices, and a lower MOI for single-family homes and apartments. If you’re thinking of buying or selling a property, please feel free to reach out to me for personalized advice and assistance.
I hope you find this information helpful and informative. As always, if you have any questions or concerns about the real estate market, I’m always HAPPY to help!
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