Slim pickings is the best description of the metro Moncton residential real estate so far this year. Sales are steady however choice is limited.
“Metro” Moncton includes the adjacent municipalities of Moncton, Dieppe, and Riverview
Active residential listings include both detached and semi-detached dwellings. As we enter the historically active Spring real estate market, listings are at a 10 year low.
Single family detached homes make up the majority of residential sales in the “metro Moncton” area. (with the boundaries of the City of Moncton, the City of Dieppe and the Town of Riverview).
Single family detached dwelling sales set new monthly records in the Spring/Summer of 2019. This occurred in spite of a historically low inventory of single family detached listings. And prices remain remarkably reasonable.
With interest rates for residential mortgages holding steady, the affordability of housing in the metro area is outstanding. Now is a good time for renters to consider moving into home ownership. It can’t hurt to shop the market this fall before winter sets in.
metro Moncton detached single family dwellings – pending and sold
The MLS® Home Price Index Benchmark Price for single family detached properties in Dieppe has seen some inconsistencies over the last five years:
The line chart below compares the benchmark price of single family detached to semi-detached housing since 2011:
Currently in the Dieppe housing market, buyers have an advantage over sellers.
In the Moncton real estate marketplace, consumers have a natural right to counsel and representation.
Consumer’s choice, the freedom to choose representation, is the most important real-estate-marketplace right.
There are benefits in choosing full representation when compared to shared representation, limited representation or no representation at all.
In the real estate marketplace representation equals agency.
Full representation means 100% undivided loyalty from the agent of your choosing.
A seller, upon entering the real estate marketplace, usually chooses either representation by a licensed real estate agency or chooses to sell without representation (for sale by owner).
A buyer entering the marketplace should also choose whether to be represented or to go it alone (unrepresented).
For buyers as well as sellers the highest level of representation is FULL, 100% representation in Single Agency.
In this day and age buyers need a firm grasp of the concept of representation (agency) in real estate.
In Single Agency the licensed real estate agency represents either the buyer or the seller in a fiduciary capacity.
Single Agency means never representing the seller and the buyer in the same transaction.
More on Agency …..