Oromocto 2010 1st Quarter Report: Sales up 25%
Ben Schmidt of www.benschmidt.tv a Fredericton NB and Oromocto NB Realtor video blogs about Oromocto and Base Gagetown's 2010 First Quarter Market Report
Oromocto area has seen a slight increase in listings, nothing to dramatic. But we have seen a good increase in sales. Sales are up 30% year to date. Where are these sales occurring? Well it seems the outskirts of Oromocto West is where the increases are. Burton, Geary and Gagetown have seen increases in there sales year to date. Why?
Chances are, since most house hunters haven't arrived yet, that it's the PMQer's that are buying these homes. With interest rates being at record lows, and now that fixed interest rates have risen, people have 30, 60, 90 days left on their pro-approvals. So the PMQer's are looking to Burton, Geary and Gagetown to purchase, seeing as the homes in these areas are generally more affordable that Oromocto West.
Lincoln, has seen a crazy amount of new sales this year. The amount of homes for sale in Lincoln are basically the same as this time last year, but we've seen 15 more homes sell. Last year there were 10 that sold, and this year 25, so we've seen a 250% increase in sales, in Lincoln. If you're coming in on a house hunting trip and you are looking at the Lincoln area, make sure you get into these homes immediately as they are going fast.
If you have any questions you can email me at ben.schmidt@me.com or leave your comments here