Curious about the Moncton real estate market?
You're in the right place! As the first quarter of 2025 wraps up, we are seeing some interesting trends in the Greater Moncton housing market. Whether you're considering a move, putting your home on the market, or simply want to stay informed, this update will provide all the latest insights.Q1 2025: A Snapshot of the Greater Moncton Real Estate Scene
The start of 2025 has welcomed a more balanced housing market in Greater Moncton, marked by a drop in home sales yet a steady rise in prices. A total of 647 homes were sold in the first quarter with an average home price of $378,000, a slight increase from the year-end of 2024.
A Shift Toward Balance
The significant change this year is a shift towards a balanced market. With an average of 4.4 months of inventory available, buyers now have more choices and time to make decisions. Homes are spending a bit longer on the market, averaging 42 days compared to the previous 32, while maintaining a healthy average sale-to-list ratio of 96.9%.
Buyer and Seller Insights
For buyers, particularly in the under $350,000 range, homes are still selling swiftly. However, in higher brackets, the days on market tends to extend. Around 75% of homes sold below asking, illustrating a market where buyers have more negotiation power than we’ve seen in recent years.
Spotlight on Home Types
Detached Homes: Leading the market, yet sales have slowed to 527 within Q1—nonetheless, prices have risen to just over $381,000. With nearly 1,000 new listings this year, buyers exploring this segment can enjoy greater variety.
Semi-Detached Homes: Sales numbers might be down, but prices are climbing. Averaging just over $384,000, these homes remain attractive, particularly amongst first-time buyers seeking affordable yet modern dwellings.
What Lies Ahead for 2025?
Looking forward, the Greater Moncton market is expected to remain stable. There’s potential for easing mortgage rates, possibly bringing more buyers into the market. It’s an exciting time, and we're curious about your thoughts. Are you seeing equilibrium on the horizon? Share your views!
Connect With Us
Thinking of buying or selling this year? We’re here to chat and guide you through your real estate options.
Reach out to us at success@deniseandmarc.ca.
Whether you're intrigued by the market dynamics or ready to make a move, stay informed and take action as a savvy stakeholder in the Greater Moncton real estate landscape.