January 2021: Saint John Real Estate Board MLS® home sales start 2021 with new monthly record
January 7, 2021
he number of homes sold through the MLS®System of the Saint John Real Estate Board totaled 167 units in January 2021. This was an increase of 25.6% from January 2020 and was a new sales record for the month of January.
MLS® home sales in Saint John continued where they ended 2020, with yet another new monthly record.” said Corey Breau, President of the Saint John Real Estate Board. “The competition for properties remained fierce this past month, keeping market balance firmly in favour of sellers. While new listings were able to outpace sales for the first time in months, overall inventory continued to decline to levels not seen since at least the turn of the century.This drove the average price back up to just shy of the two hundred-thousand-dollar mark.”
The average price of homes sold in January 2021 was $199,853, up 7.9% from January 2020.
The dollar value of all home sales in January 2021 was $33.4 million, a large increase of 35.5% from the same month in 2020. This was also a new record for the month of January.
There were 187 new residential listings in January 2021. This was a decrease of 18.7% from the end of January 2020. This was the lowest number of new listings added in the month of January in more than three decades.
Active residential listings numbered 538 units at the end of January. A significant decline of 46.7% from the end of January 2020. Active listings haven’t been this low in the month of January in two decades.
Months of inventory numbered 3.2 at the end of January 2021, down from the 7.6 months recorded at the end of January 2020 and below the long-run average of 15.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The Saint John Real Estate Board is an association of approximately 240 REALTORS® that provides services to and sets standards for members. The Saint John Real Estate Board covers the southern part of New Brunswick to the U.S. border in St. Stephen, and includes the counties of St. John, Kings, Charlotte and portions of Queens County.
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