#1 Moncton Real Estate Blog

New Construction Super Open House on Super Bowl Sunday

Larry Estabrooks - Agent — Wed, 18 Jan 2012 03:34:24 GMT

Along with some assistance I'm hosting a Super Open House on three new constructions in the Carriage Hill subdivision in Riverview, just across the Gunningville Bridge from Moncton. I've set an early time for the Super Open House, before all the television broadcasts leading up to the Super Bowl.

And to keep in the spirit of the big game day, those who attend the open house may have their name placed in a bowl from which we will draw one name who will receive two tickets to the Game Day Tailgate Buffet at Casino New Brunswick. More info and directions at http://openhouses.monctonguide.com/ See you at the Super Open House

METRO MONCTON NEW HOUSING SALES REPORT - 2011

Larry Estabrooks - Agent — Thu, 29 Dec 2011 20:31:58 GMT

Further to my previous post about MLS® new housing unit sales, I thought it would be interesting to compare the average sale price of semi-detached, single detached and condominium ownership housing.

I prepared the chart below that illustrates the average sale price trends in the metro market. Some of the increases can be attributed to higher construction costs, however I also suspect that some of the increases are due to consumers trending to purchase dwellings with more square footage.

(note: "metro" encompasses only the City of Moncton, the City of Dieppe and the Town of Riverview)

METRO MONCTON NEW HOUSING SALES REPORT - 2011

Larry Estabrooks - Agent — Mon, 26 Dec 2011 23:46:26 GMT

What makes up new housing sales on MLS® in the metro area real estate market? As my chart below shows, semi-detached housing followed by single detached housing followed by condominium ownership housing.

Annual Metro Moncton Real Estate Market - 2011

Larry Estabrooks - Agent — Mon, 26 Dec 2011 23:13:24 GMT

OK so 2011 is not quite over yet. However I say why wait for the last few days. Here is the big picture. In 2011, unit sales of existing properties are up slightly and unit sales of new housing are down slightly. There you have it. No boom, no bust. Residential housing in the metro Moncton area is doing alright.
(note: "metro" is only the City of Moncton, the City of Dieppe and the Town of Riverview).

Best Deals in Real Estate - Moncton rated A+ by MoneySense Magazine

Larry Estabrooks - Agent — Mon, 20 Jun 2011 15:18:27 GMT

June 2011 - Of 180 Canadian cities and towns, Moncton was awarded the only A+ in all of Canada for Best Deals in Real Estate by MoneySense Magazine ( note this is up from an A- in their 2010 survey).

Housing in the Metro Moncton market (Moncton - Dieppe - Riverview) is indeed affordable. People from far and near are moving to the Southeast New Brunswick area for affordable housing, jobs and the quality of life offered here.

As I've reported here before, it is notable that new housing sales make up 25% (that's one in four) of all residential MLS® sales in the Metro Moncton market.

Moncton CMA Housing Starts Trend Downward

Larry Estabrooks - Agent — Fri, 10 Jun 2011 12:06:00 GMT

2011 total housing starts in the Moncton CMA are off to a slow start to the end of May 2011. My graphs below illustrate the numbers supplied by the Canada Mortgage and Housing Corporation for the Fredericton CA, the Moncton CMA and the Saint John CMA for the last five years. As you can see housing starts in the two other major New Brunswick population centers are off as well.

The Moncton CMA does lead the Province in the multiple starts category with over two thirds of the multiple starts year to date.

May 2011 Metro Moncton Real Estate Market

Larry Estabrooks - Agent — Tue, 31 May 2011 23:48:45 GMT

May 2011 is coming to an end and the housing sales have been reported. So what is happening in the Metro Moncton-Dieppe-Riverview real estate market so far this year?

Unit sales of existing residential properties reported year-to-date to the end of May have not broken the 500 mark for three years. (see my graph below)
The average sale price of existing properties year-to-date ($175,538) is an all time high though the increase from the same period last year is a modest 2.5% .
The averages for sales to list ratio and days on the market are unchanged from last year.

New housing unit sales this May tied the previous record in May 2007. Year-to-date new housing unit sales reported are at an all time high. This is noteworthy compared to sales of existing homes. 30% of all residential unit sales reported year-to-date have been new construction.

The Best Things About Living in Moncton, Dieppe, Riverview

Larry Estabrooks - Agent — Wed, 25 May 2011 19:09:15 GMT

Every year more people relocate to the Moncton - Dieppe - Riverview area. Of course some move away, but the "tide is rising" in our metro population. It begs the question "What are the best things about living in our area?"

I've started a list and I invite you to add your favourite thing(s).

Please go here : www.MonctonGuide.com

Moncton Housing Prices

Larry Estabrooks - Agent — Sun, 22 May 2011 12:52:00 GMT

A single family detached house without a garage, with three to four bedrooms, up to 25 years old, located in Moncton, Dieppe or Riverview and on municipal water and sewer services. Using this criteria, the stats below reveal Moncton area housing sales over the last 36 months.

Does your idea of Moncton area housing have a different profile? Let me know your criteria and I will do the analysis.

Moncton CMA Housing Starts Slower YTD April 2011

Larry Estabrooks - Agent — Tue, 10 May 2011 02:15:00 GMT

2011 total housing starts in the Moncton CMA are off to a slow start to the end of April. As are New Brunswick two other population centers.

Here is a chart I prepared to illustrate the numbers supplied by the Canada Mortgage and Housing Corporation for the Fredericton CA, the Moncton CMA and the Saint John CMA for the last five years.

Perhaps these numbers only reflect the past Winter's harshness. Or perhaps it is the beginning of a trend for 2011. Let's see what next month brings.

Off My Chart

Larry Estabrooks - Agent — Sun, 10 Apr 2011 13:55:00 GMT

Here is a tale of two cities in two charts. Moncton and Dieppe. Just look at the unit sales of new housing compared to the unit sales of existing housing in Dieppe !
Now who would like to see a comparison chart of the average sale prices?

2011 Metro Moncton Real Estate Market Q1

Larry Estabrooks - Agent — Wed, 06 Apr 2011 20:36:00 GMT

Below is my Metro Moncton (just Moncton, Dieppe & Riverview) Housing Market Report for the first quarter of 2011.

Existing residential and new construction sales are separated below. Find me on the web at www.LarryEstabrooks.com
I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton. And a REALTOR®.

EXISTING HOUSING ONLY

First quarter unit sales of existing residential properties are down from last year. Days on the market is the same but the average list and sale price is down. Very interesting. Could it be moving towards a buyer's market?

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2011 175654 170072 97% 85 days 90

FEB-2011 161235 153788 95% 92 days 76

JAN-2011 171793 161349 94% 98 days 56

3 months: 169744 165945 96 % 90 days 222

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2010 181763 174653 96% 84 days 100

FEB-2010 181546 174887 96% 87 days 93

JAN-2010 170411 160205 94% 101 days 61

3 months: 178957 171269 96 % 89 days 254

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2009 178573 171919 96% 78 days 92

FEB-2009 160484 153792 96% 81 days 79

JAN-2009 166618 158138 95% 100 days 45

3 months: 169466 162418 96 % 84 days 216

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2008 155385 150423 97% 72 days 97

FEB-2008 171995 165010 96% 84 days 112

JAN-2008 166336 159833 96% 92 days 70

3 months: 164800 158640 96 % 82 days 279

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2007 158158 151400 96% 66 days 115

FEB-2007 156019 150684 97% 72 days 108

JAN-2007 165534 158994 96% 83 days 79

3 months: 159323 153130 96 % 72 days 302

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2006 150981 145490 96% 75 days 101

FEB-2006 142428 136797 96% 70 days 93

JAN-2006 139062 132421 95% 97 days 70

3 months: 144808 138963 96 % 79 days 264

NEW HOUSING ONLY

Year-to-date unit sales of new homes are down from last year but still the second best on record. This is really noteworthy compared to sales of existing homes. About one in three residential sales in the first quarter were new construction.

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2011 161958 161679 100% 186 days 31

FEB-2011 170207 172102 101% 212 days 44

JAN-2011 191563 186925 98% 133 days 32

3 months: 174204 173515 100 % 181 days 107

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2010 148893 148578 100% 145 days 63

FEB-2010 181983 181819 100% 148 days 23

JAN-2010 160947 160378 100% 138 days 38

3 months: 158725 158360 100 % 143 days 124

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2009 175331 175650 100% 120 days 29

FEB-2009 162369 161545 99% 144 days 26

JAN-2009 157176 157229 100% 133 days 17

3 months: 166364 166207 100 % 132 days 72

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2008 165030 162901 99% 130 days 37

FEB-2008 153010 152869 100% 140 days 29

JAN-2008 180883 182093 101% 102 days 23

3 months: 165210 164592 100 % 126 days 89

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2007 151089 151525 100% 169 days 37

FEB-2007 151243 151194 100% 118 days 37

JAN-2007 187275 183761 98% 137 days 24

3 months: 160009 159295 100 % 142 days 98

Month Average List Average Sale Sale to List DoM # Of Sales

MAR-2006 165612 163744 99% 161 days 25

FEB-2006 143056 141830 99% 136 days 34

JAN-2006 145572 146997 101% 155 days 18

3 months: 150968 150153 99 % 149 days 77

Metro Moncton Real Estate Market - Not New And New

Larry Estabrooks - Agent — Thu, 03 Feb 2011 00:11:00 GMT

My Metro Moncton Market Report for January 2011 includes Moncton, Dieppe & Riverview and I separated sales of existing residential and new construction.

In addition I'm including the three month period to reduce fluctuations caused inconsistent reporting of sales when they occur.

Existing housing only:

Month Average List Price Average Sale Price Sale to List % Average days on market # Of Sales

JAN-2011 171793 161349 94% 98 days 56

DEC-2010 174328 165892 95% 81 days 50

NOV-2010 173549 165700 95% 77 days 89

3 months 173245 164500 95 % 84 days 195

Month Average List Price Average Sale Price Sale to List % Average List Duration # Of Sales

JAN-2010 170411 160205 94% 101 days 61

DEC-2009 169094 162580 96% 92 days 77

NOV-2009 174790 168163 96% 91 days 76

3 months 171492 163886 96 % 94 days 214

Month Average List Price Average Sale Price Sale to List % Average List Duration # Of Sales

JAN-2009 166618 158138 95% 100 days 45

DEC-2008 179362 168764 94% 103 days 53

NOV-2008 173292 165581 96% 78 days 62

3 months 173426 164542 95 % 93 days 160

Month Average List Price Average Sale Price Sale to List % Average List Duration # Of Sales

JAN-2008 166336 159833 96% 92 days 70

DEC-2007 158585 151879 96% 107 days 62

NOV-2007 161626 155626 96% 73 days 97

3 months 162243 155897 96 % 88 days 229

Unit sales of existing homes moved lower from January 2010.
The average days on market for a sold listing decreased slightly.
The sale to list price ratio also softened slightly.
The average sale price is relatively unchanged.

New construction only

Month Average List Price Average Sale Price Sale to List % Average days on market # Of Sales

JAN-2011 191563 186925 98% 133 days 32

DEC-2010 177971 179800 101% 143 days 7

NOV-2010 153335 154428 101% 198 days 49

3 months 169195 168263 99 % 170 days 88

Month Average List Price Average Sale Price Sale to List % Average List Duration # Of Sales

JAN-2010 160947 160378 100% 138 days 38

DEC-2009 170000 168596 99% 161 days 21

NOV-2009 152526 153167 100% 96 days 43

3 months 159261 159030 100 % 125 days 102

Month Average List Price Average Sale Price Sale to List % Average List Duration # Of Sales

JAN-2009 157176 157229 100% 133 days 17

DEC-2008 183064 181783 99% 93 days 28

NOV-2008 173557 174221 100% 80 days 14

3 months 173349 172914 100 % 102 days 59

Month Average List Price Average Sale Price Sale to List % Average List Duration # Of Sales

JAN-2008 180883 182093 101% 102 days 23

DEC-2007 172743 172048 100% 145 days 23

NOV-2007 155445 154293 99% 105 days 22

3 months 169900 169702 100 % 118 days 68

Sales of new homes were down slightly compared to January 2010.
The average days on market is higher than the last two years.
The average sale price of new homes was up in January,
likely attributable to a decrease in sales of lower priced semi-detached housing.

Note: Almost one third of residential unit sales in the last three months were new construction.

It's a great time in the Moncton area to make a smart buy on residential housing. Feel free to call me if you would like to discuss your buying strategy.I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton.I caution that average price information can be useful in establishing trends over time, but does not indicate actual prices in cities and towns comprised of widely divergent neighbourhoods and age of properties.

Find me on the web at www.LarryEstabrooks.com

Moncton CMA Housing Starts Rebound

Larry Estabrooks - Agent — Tue, 11 Jan 2011 15:42:00 GMT

Total housing starts in the Moncton CMA rebounded in 2010.

Here is a chart I prepared to illustrate the last five years from numbers supplied by the Canada Mortgage and Housing Corporation for the the Fredericton CA, the Moncton CMA and the Saint John CMA.

Outstanding residential construction activity in the Moncton - Dieppe - Riverview area is a reflection of confidence as well as strength in the local economy.

Moncton Area Leads MLS® Sales in New Brunswick

Larry Estabrooks - Agent — Thu, 23 Dec 2010 21:00:00 GMT

Real estate market activity in the Moncton area is outstanding in the Province!

Moncton
Nov-2010 - Sales: 231 - Volume Sold: $ 32,817,209
Oct-2010 - Sales: 217 - Volume Sold: $ 29,969,317
Sep-2010 - Sales: 233 - Volume Sold: $ 30,811,523
Aug-2010 - Sales: 275 - Volume Sold: $ 39,835,571
Jul-2010 - Sales: 283 - Volume Sold: $ 39,363,155

Fredericton
Nov-2010 - Sales: 149 - Volume Sold: $ 22,732,110
Oct-2010 - Sales: 168 - Volume Sold: $ 24,045,500
Sep-2010 - Sales: 195 - Volume Sold: $ 28,422,011
Aug-2010 - Sales: 215 - Volume Sold: $ 31,358,938
Jul-2010 - Sales: 211 - Volume Sold: $ 34,052,653

Saint John
Nov-2010 - Sales: 133 - Volume Sold: $ 22,286,640
Oct-2010 - Sales: 170 - Volume Sold: $ 26,726,453
Sep-2010 - Sales: 196 - Volume Sold: $ 32,086,753
Aug-2010 - Sales: 181 - Volume Sold: $ 30,473,985
Jul-2010 - Sales: 191 - Volume Sold: $ 32,370,995

Test Drive a Buyer's Agent

Larry Estabrooks - Agent — Fri, 03 Dec 2010 11:20:00 GMT

Test drive a Buyer's Agent without any obligation? Can I do that a consumer asks? YES YOU CAN !

Do you like to sample or test drive a product or service before you commit to it? Well if you are about to set out on the road to homeownership, you may choose to be unrepresented and "go it alone". Or you may choose to be represented by a real estate licensee - a Buyer's Agent.

The vast majority of Seller's have their own Agent. Some even have a "team" of salespeople, all representing the Seller's best interests. Why should you, a Buyer, be unrepresented when selaing with all these sales representatives for the Sellers? You have the right to full representation and the undivided loyalty of your own Agent. A Buyer's Agent will be loyal to the buyer client and represent the buyer client's best interests throughout the buying process.

Test drive the services of a Buyer's Agent before you commit. Be sure to ask the Buyer's Agent for their "Disclosure of Role - Agency" right from the start. If the Buyer's Agent discloses they might ask you to agree to Dual Agency, think twice. Why give up full representation and undivided loyalty? So the Seller's Agency won't have to share the real estate fee or commission?

In an MLS® listing agreement the Seller agrees to pay the Listing Agency a fee or commission. The Listing Agency agrees to pay any Buyer Agency a portion of that fee or commission. If a consumer buys through the Listing Agency, the Listing Agency does not have to share the fee or commission with another Agency. This is known as a "double ender" for the Listing Agency. And a lot of double enders involve double agency and a conflict of interest.

So take a test drive and read the Buyer Agent's "Disclosure of Role - Agency". If your not happy, test drive another until you find one that's right for you. And remember, you have a right to know the policy of the Agency should a conflict of interest (dual agency) situation arise. You also have a right to single agency and the Undivided Loyalty of your own Buyer's Agent.

I'm a licensed independent real estate agent in Moncton, New Brunswick.
I represent Buyers and invite you to take a test drive of my professional services.
Find me at LarryEstabrooks.com

Read my Disclosure of Role - Agency

BUY IT RIGHT Is The First Rule in Real Estate

Larry Estabrooks - Agent — Tue, 30 Nov 2010 15:09:00 GMT

BUY IT RIGHT is the first rule in real estate and in most cases buying it right begins with finding a property that is priced right.

While in some scenarios a low offer on an overpriced property may yield a "bought right" result, more often the seller has not yet come to terms with the real market value of their property so the low offer is rejected or countered back at close to the list price.

Recognizing a well priced property is an acquired skill and requires a diligent inspection of all the comparable properties for sale in the market place.

Below is my pick as a "priced right" ($114,900) Moncton area 3 bedroom bungalow - see www.MonctonBungalow.com or click on the picture. (Update - Too late - this one is sold ($113,000) and closed.

Buying? Ask yourself: "Who is really representing me in this real estate game?"

Larry Estabrooks - Agent — Sun, 31 Oct 2010 10:02:00 GMT

Whenever you get involved in today's real estate market you will likely come in contact with all kinds of people offering up information and "free" advice. At any given time in these real estate conversations and dealings you should know the answer to this question: "Is this person really representing my best interests in this real estate game or are they representing someone else?"

Yes, you can go into the real estate game unrepresented. However if you are unrepresented, you should on guard when someone is not acting, or is not required to act, in your best interests.

Metro Moncton Real Estate Market - New versus Not New

Larry Estabrooks - Agent — Thu, 30 Sep 2010 20:49:00 GMT

Looking at the "metro" Moncton (here the cities of Moncton and Dieppe as well as the Town of Riverview) real estate market for the first three quarters reveals something interesting when I analyze the unit sales. MLS® unit sales of new construction have held steady for the last five years while the sales of existing residential housing declined last year and has not yet improved thus far this year.

Here are the current number of active MLS® listings that are new construction followed by the reported year-to-date MLS® unit sales in brackets.

Moncton - 207 - [183]
Dieppe - 77 - [114]
Riverview - 28 - [ 45]

Moncton Sports a New Stadium - What effect will it have on the local real estate market?

Larry Estabrooks - Agent — Fri, 24 Sep 2010 17:39:00 GMT

This Sunday Canadian football fans will be introduced to the new Moncton Stadium . The first ever regular season CFL game held in Atlantic Canada will see the Toronto Argonauts play "host" to the Edmonton Eskimos in an event called "Touchdown Atlantic ". The game will be televised nationally on TSN.

This national exposure follows the world wide exposure of the 2010 IAAF World Junior track and field championships. Future exposure will come from the Uteck Bowl (national semi-final CIAU football championships formerly called the Atlantic Bowl) in 2011, 2013 and 2015 as well as the Canadian national track and field championships in 2013 and 2014.

Other than the local economic benefit of hosting these events, can we expect a positive impact on the Moncton area real estate market? I suggest that Moncton's new stadium will definitely enhance Moncton's image and add to the attractive quality of life we enjoy in the Moncton area. I also propose that next to job opportunities, quality of life opportunities are what attracts new residents to the Moncton area. A growing population fuels the real estate market.

#1 Moncton Real Estate Blog

New Construction Super Open House on Super Bowl Sunday

METRO MONCTON NEW HOUSING SALES REPORT - 2011

METRO MONCTON NEW HOUSING SALES REPORT - 2011

Annual Metro Moncton Real Estate Market - 2011

Best Deals in Real Estate - Moncton rated A+ by MoneySense Magazine

Moncton CMA Housing Starts Trend Downward

May 2011 Metro Moncton Real Estate Market

The Best Things About Living in Moncton, Dieppe, Riverview

Moncton Housing Prices

Moncton CMA Housing Starts Slower YTD April 2011

Off My Chart

2011 Metro Moncton Real Estate Market Q1

Below is my Metro Moncton (just Moncton, Dieppe & Riverview) Housing Market Report for the first quarter of 2011.

Existing residential and new construction sales are separated below. Find me on the web at www.LarryEstabrooks.com
I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton. And a REALTOR®.

Metro Moncton Real Estate Market - Not New And New

My Metro Moncton Market Report for January 2011 includes Moncton, Dieppe & Riverview and I separated sales of existing residential and new construction.

In addition I'm including the three month period to reduce fluctuations caused inconsistent reporting of sales when they occur.

Moncton CMA Housing Starts Rebound

Moncton Area Leads MLS® Sales in New Brunswick

Test Drive a Buyer's Agent

I'm a licensed independent real estate agent in Moncton, New Brunswick.
I represent Buyers and invite you to take a test drive of my professional services.
Find me at LarryEstabrooks.com

Read my Disclosure of Role - Agency

BUY IT RIGHT Is The First Rule in Real Estate

Buying? Ask yourself: "Who is really representing me in this real estate game?"

Metro Moncton Real Estate Market - New versus Not New

Moncton Sports a New Stadium - What effect will it have on the local real estate market?

#1 Moncton Real Estate Blog

New Construction Super Open House on Super Bowl Sunday

METRO MONCTON NEW HOUSING SALES REPORT - 2011

METRO MONCTON NEW HOUSING SALES REPORT - 2011

Annual Metro Moncton Real Estate Market - 2011

Best Deals in Real Estate - Moncton rated A+ by MoneySense Magazine

Moncton CMA Housing Starts Trend Downward

May 2011 Metro Moncton Real Estate Market

The Best Things About Living in Moncton, Dieppe, Riverview

Moncton Housing Prices

Moncton CMA Housing Starts Slower YTD April 2011

Off My Chart

2011 Metro Moncton Real Estate Market Q1

Below is my Metro Moncton (just Moncton, Dieppe & Riverview) Housing Market Report for the first quarter of 2011.

Existing residential and new construction sales are separated below. Find me on the web at www.LarryEstabrooks.com I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton. And a REALTOR®.

Metro Moncton Real Estate Market - Not New And New

My Metro Moncton Market Report for January 2011 includes Moncton, Dieppe & Riverview and I separated sales of existing residential and new construction.

In addition I'm including the three month period to reduce fluctuations caused inconsistent reporting of sales when they occur.

Moncton CMA Housing Starts Rebound

Moncton Area Leads MLS® Sales in New Brunswick

Test Drive a Buyer's Agent

I'm a licensed independent real estate agent in Moncton, New Brunswick.I represent Buyers and invite you to take a test drive of my professional services.Find me at LarryEstabrooks.com Read my Disclosure of Role - Agency

BUY IT RIGHT Is The First Rule in Real Estate

Buying? Ask yourself: "Who is really representing me in this real estate game?"

Metro Moncton Real Estate Market - New versus Not New

Moncton Sports a New Stadium - What effect will it have on the local real estate market?

Existing residential and new construction sales are separated below. Find me on the web at www.LarryEstabrooks.com
I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton. And a REALTOR®.

I'm a licensed independent real estate agent in Moncton, New Brunswick.
I represent Buyers and invite you to take a test drive of my professional services.
Find me at LarryEstabrooks.com

Read my Disclosure of Role - Agency