Upon reviewing the MLS® report for October published by the Canadian Real Estate Association it seems the Saint John area residential real estate market may be moving towards a buyer's market.

October residential MLS® unit sales were down 14.7% from October 2007 and have brought the year-to-date total down by 1.5%. The average sale price was up 6.9 % for October in contrast to the 12.8% increase recorded year-to-date. New listings year-to-date are up 4.6% over 2007.

In New Brunswick residential MLS® unit sales were down 19.7% while Canada recorded 27% fewer residential MLS® unit sales than in October 2007.