In the first quarter of 2007, in the City of Moncton, residential units and total permit values are up from last year.
Will this be another good year for residential construction in the city? Well, the current inventory of unsold new construction may have an influence on what may transpire. There are currently 167 detached, semi-detached and freehold townhouses for sale on MLS®. Of these, at least 20 are yet under construction.
That still leaves over 140. Of these, 3 were listed in 2005 and 93 were listed in 2006. So there seem to be a fair amount of unsold inventory.
Year to date, 72 new construction properties were sold on MLS®.
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