Residential real estate markets throughout much of Atlantic Canada are poised for solid growth in 2019 as economic performance ramps up, unemployment rates decline, and first-time buyer incentives at both provincial and federal government levels take hold, according to a report released today by RE/MAX of Ontario-Atlantic Canada Region.
The RE/MAX Atlantic Canada Market Report examined residential real estate trends and developments across 15 markets for the first quarter of 2019, and compared them to the same period one year earlier. The report found strong momentum in the larger urban centres, as well as spillover in several smaller markets. Home sales are on par or up in just under half the markets surveyed (7/15), likely due to the current shortage of inventory, while housing values have climbed in almost three-quarters (11/15) of the Atlantic Canadian markets surveyed.
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The markets surveyed were:
St. John’s (CMA), Deer Lake/Corner Brook , and Clarenville (including the surrounding areas) in Newfoundland and Labrador; Halifax-Dartmouth, the Annapolis Valley/Yarmouth, Kings County, Truro (Bible Hill & area), and Cape Breton in Nova Scotia; Charlottetown and Summerside in Prince Edward Island; and Saint John, Miramichi/Miramichi Rural, and Greater Moncton in New Brunswick.
2019 RE/MAX Altantic Canada Market Report Highlights:
- First-time buyers were a driving force in almost 70 per cent of markets surveyed. (10/15)
- Low inventory levels were reported in 80 per cent of markets. (12/15)
- Home sales were strongest at starter price points ranging from $100,000 to $300,000.
- Buyers from other parts of the country were active in 60 per cent of Atlantic Canada housing markets. (9/15)
- Newfoundland and Labrador and New Brunswick are seeing an influx of people returning home after working in Alberta’s oil sector.
- Luxury sales were up in Halifax-Dartmouth, Saint John and Kings County.
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Demonstrate to your clients and prospects that you’re an expert in your market by sharing the Atlantic Canada report shareable images on Instagram and Facebook. Find your market below and right click to save and share!
Other Ways to Use the Report
RE/MAX Reports are distributed throughout the year and are designed to educate the public and our network on industry insights. A full download of the report and press release are always available on remax.ca.
- Provide a copy of your region page in your listing presentations
- Display them at your next open house
- Ensure your region page is available for clients to browse at your office
- Share with your network in your next email newsletter
- Encourage clients and prospects to view the report on social media by sharing the tiles for your market