Investing in Southeast New Brunswick Real Estate: December 2024 Market Highlights
Southeast New Brunswick’s real estate market capped off 2024 with strong momentum, showcasing significant growth and evolving dynamics. December alone saw a 21% increase in property sales, with 235 homes sold. This surge reflects the region’s robust buyer activity and signals a healthy, competitive market.
Year-to-Date Performance: Growth in Transactions and Values
In 2024, a total of 4,000 properties were sold through the MLS® Board, marking a 6% rise in transaction volume compared to the previous year. The dollar value of sales climbed by 15%, underscoring the appreciation of property values in the region. For investors, this presents a lucrative opportunity as rising values can lead to better returns on investment.
Home Prices and Market Efficiency
December 2024 saw the average home price hit $379,082, with homes spending an average of 64 days on the market. This competitive environment indicates a strong seller's market, with properties moving quickly as buyers act decisively. Investors looking for rental properties or resale opportunities will find favorable conditions for acquisition.
Increasing Listings and Balanced Market
The southeast New Brunswick market is experiencing a rise in active listings, a sign of a shift toward a more balanced market. By December’s end, 1,543 properties were actively listed, with 251 new listings in December—a 20% increase over December 2023. This surge in inventory, coupled with a growing supply of homes for sale, provides more options for buyers and investors looking to expand their portfolios.
List-to-Sale Ratio: Strong Performance with Room to Grow
The list-to-sale ratio for December 2024 stood at 119%, a five-point increase from the previous year, reflecting strong sales performance. However, the year-end list-to-sale ratio for 2024 was 69%, showing a decline from the previous year and signaling a market shift toward balance. For investors, this transition means fewer competitive bidding wars and more opportunities to secure favorable deals.
Market Outlook for 2025
With an increase in inventory and new listings, the southeast New Brunswick real estate market is on track for a more balanced environment in 2025. Although demand remains strong, the growing supply offers buyers and investors a broader selection of properties, potentially stabilizing price growth and easing market pressures moving into the new year. This presents an ideal time for investors to make strategic moves in Moncton, Dieppe, and Riverview.
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