Real Estate Market Snapshot for Saint John, Kennebecasis Valley and Surrounding Areas; January-February 2013

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We have been experiencing somewhat of a slow period in terms of home sales and despite the apparent challenges in our marketplace there are some good things to report. On this week’s video blog post – we are covering some of the things we have seen through January and February 2013. Looking at the number of homes sold, average price, list-to-sale ratio and the number of Days On Market – it provides a snapshot at what we can expect moving forward.

Single-Family Home Sales Moving Slower Than Last Year
Looking at January and February, so far this year in Kennebecasis Valley, with 292 homes on the market we have reported 32 sales. Compared to the same time in the previous year this is a clear decline in sales. Last year there were a total of 48 sales in Kennebecasis Valley.

In the city of Saint John as well as the Grand Bay-Westfield this year through February, of the 524 single-family homes in inventory we have had 77 single-family homes sell so far versus 107 during the same time frame in 2012.

Average Days On Market and Average List-To-Sale Ratio is Promising
With an average selling price of $278,000 in Kennebecasis Valley and average of 111 Days On Market, sellers are receiving 97% of their list price – a promising trend in our otherwise slow moving marketplace.

In Saint John the average selling price is $142,000 with sellers receiving on average about 93% of asking price.
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Remember, in a market like ours today sellers will tend to get impatient with the length of time most homes remain on the market. Still, this largely depends on price range. For an accurate estimate according to today’s market, rather than depend on your provincial assessment, contact us today. We will conduct an in-depth analysis of your home in terms of price and time needed to sell.

506.333.3669
barkley@barkleybauer.com