The housing market in New Brunswick seems to be shifting towards a more balanced state after years of high prices and quick sales exceeding listing prices. Recent data from the Canadian Real Estate Association indicates a 2.1% decrease in home sales compared to September 2024, suggesting a move towards equilibrium.
Kim Hunter, a realtor in the Saint John area and a director of the New Brunswick Real Estate Board, mentioned that market conditions are gradually balancing, though still favoring sellers to some extent. Home sales for September were 11.5% below the five-year average and 8.4% below the ten-year average.
Hunter noted that the market is approaching a balance between supply and demand, with homes now taking about seven to ten days to sell, a shift from the previous trend of rapid sales within days. Although prices are still rising, the rate of increase is moderating compared to previous years.
The average price of a home in New Brunswick stands at $341,101, with variations across different regions. Fredericton averages at $331,061, greater Moncton at $375,504, and Saint John at $386,276. However, in the north and valley regions, the average price is lower at $242,428, contributing to a more balanced provincial market that slightly favors sellers.
The north and valley regions saw a 6.5% increase in house sales, offsetting declines in other areas like greater Moncton and Saint John. Fredericton experienced the largest year-over-year decline at 10%.
In September, the percentage of homes sold above asking price was 104% in Saint John, 99% in Fredericton, and 96% in Moncton, while the north and valley region reported 93%. Hunter emphasized the importance of considering local markets when house-hunting due to varying trends within cities and neighborhoods.
Over the first nine months of 2025, 7,514 housing units were sold in New Brunswick, marking a 3.8% increase from the previous year. Hunter advised first-time buyers to conduct thorough research, secure pre-approved mortgages, and work with knowledgeable real estate agents to navigate the market effectively.
Despite national trends of stable home prices, New Brunswick remains an attractive province for homebuyers due to relatively lower housing costs. With an average home price of $676,154 nationwide, New Brunswick’s affordability and housing inventory continue to draw people to the region.