Maritime real estate market seeing record sales numbers

Record numbers for Maritime real estate According to the latest numbers, real estate is booming across the Maritimes. CTV’s Laura Brown reports.

FREDERICTON — According to the latest numbers, real estate is booming across the Maritimes.

New Brunswick’s real estate sales in June were the highest in the province’s history.

According to the New Brunswick Real Estate Association, 1230 units in the province were sold in June, nearly 25% more than June of 2019. The average price was up 14% to $199,327.

Fredericton saw the biggest increase of sales at 53%. Around the province, Northern New Brunswick saw a 25% increase, the Greater Moncton area saw a 21% increase, and Saint John saw an increase of 5%.

“I know that Halifax as well has just taken off, and P.E.I., all of the Maritimes are definitely up,” confirms Moncton-area real estate agent Chantal Albert.

Albert says COVID-19 forced a slowdown during what are normally busy months, but the market is more than making up for it now.

Maritimers are not the only interested buyers, as agents are getting calls from outside the Atlantic bubble.

“During the pandemic, these virtual video tours of homes were the only way to see a home,” says Albert. “But now, virtual tours are still happening for those people outside the Atlantic bubble who are looking to buy a home in the Maritimes, but can’t see it themselves because they can’t travel here.”

Albert says she has heard of several homes being purchased sight unseen.

“I remember a girl from Ottawa, and she had three kids, and needed to move here by the end of June. She said, ‘what do you think?’. And I said, ‘well it’s nice, but it’s your house, it’s your decision’,” recalls Albert.

Nova Scotia also saw a new sales record for the month of June, as 1428 units were sold at an average price of $286,227 – an average increase of 10% more than June of 2019.

"I tell people, ‘you’re not buying a shirt. You’re buying a house. You can’t return it!” laughs Albert.

July is shaping up to be just as busy for the Maritime real estate market, bringing new meaning to ‘buying online’.