The elevated gross sales quantity has regularly eaten away at stock, placing sellers in a greater place, mentioned Sheila Henry, the affiliation’s president. Active residential listings numbered four,755 on the finish of March, down 19 p.c from March 2018.
Still, New Brunswick stays one in every of Canada’s least populous and most reasonably priced housing markets, with a mean sale value in 2018 of 175,976 Canadian ($131,000), in contrast with 488,600 Canadian ($363,000) nationwide.
In St. Andrews, “the market’s been active in the $400,000-and-under price points” — or lower than about $300,000, in American — “so there’s not quite as much inventory as we’re used to,” mentioned Mark Gauley, an agent with RE/Max St. Andrews. Higher-end properties supply a few of the finest worth in the meanwhile, he famous, as there may be much less demand at that finish of the market.
The common sale value in St. Andrews final 12 months, for a complete of some 66 gross sales, was 255,139 Canadian ($190,000), in keeping with knowledge offered by Ms. Henry.
Properties inside strolling distance of downtown are essentially the most in demand, however provide is proscribed, given the city’s small dimension.
“Because it is starting to be more of a seller’s market, people are willing to use their imaginations and take on a renovation project if it’s a good location,” Mr. Gauley mentioned. “St. Andrews is all about layers of history: If you look at 10 properties, they’re all going to be different.”