FREDERICTON MARKET FOR JANUARY 2009

   Fredericton market to date indicates the severity of the American and Global recession. The stats for January 2009, which I share with you today, gives us a birds-eye view of what the real estate market will do in 2009. Forwarned is forarmed. I believe we are heading into a very strong buyers market as early as April of this year. Supply and Demand. If you have lots of listings and few buyers it makes sense that buyers will experience some fantastic buys throughout the year. Let's look at the stats so far for January 09.

   Total # of Listings year to date= 468 a drop of 16%

   Total # of Sales year to date   = 80 a drop of   33%

   Total Sales Dollar Volume year to date=  $ 11,937,050 a drop of 25%

 With sales in a free fall of twice that of listings. It is a good bet that there will be a lot of good opportunities for the smart buyers to cash in on a profit bonanza. So far this year the 33% decrease in sales is 3 times what I predicted on December 31,2008. It is also very likely that other cities across Canada are experiencing this same trend and maybe even more so as one goes west. Vendors should take heed and make sure they do not over price their property and lose the best market in the Spring.

  With  this market edge that the buyers have, plus the $ 750.00 the Federal Government is promising " First Time Home Buyers " we should expect to see these young buyers as our  majority of  purchasers throughout 2009. 

  Check back with me at the end of February and we will see if this trend persists.