Fredericton Market Update - July 2010
Ben Schmidt of www.benschmidt.tv a Fredericton NB and Oromocto NB Real Estate Agent video blogs about the July 2010 Market Stats
So July has come and past and what did we see? Well the July 2010 had another significant drop compared to this time last year. Last July Fredericton had 137 homes sell, this year 86. That's 37% drop in sales, BUT the normal amount of homes that sell in July is about 112, so a 22% drop from the normal amount. Last years July was the best July Fredericton ever had.
If you're a buyer, now would be a great time to start looking. August is historically a slow month due to vacations, and as I said, sales have been down the last three months. This means there is a good supply of homes on the market, and plenty of good buys. You might have less competition to deal with, in the month of August.
If you're a seller then, just hold tight, August may not be your month either. Chances are the buyers will come back after the last Summer month. Typically we see a spike in activity in the September and October months.
If you have any questions for a Realtor give me an email ben.schmidt@me.com