Wow! what a fantastic year we are having in the City of Fredericton. Listings are up in March 17% over last year @ 663 in total. Year over year listings are up 13% @ 1544. Again it looks very much like this growth is going to continue even in the face of substancial interest rate hikes. The market here in Fredericton is so strong that it is the #1 commodity that everyone wants to aquire. So vendors get your home on the market now and take advantage of this super active boom time.
If we think listings are strong so far this year, wow, look at sales. This month sales have jumped 47% over last year for the month of March. Year over year sales are up a whopping 45%. This represents a total dollar volume of $36,666,334 for March sales and a year over year volume until March 31,2010 to $73,661,770. If this trend just holds to June 30, which I think it will, we will do even better than we did last year.
So Buyers and Sellers we are definitely in a Prosperity Market, which means that both buyers and sellers, are in a win-win situation. Even with this last interest rate hike, interest rates are still @ around the 4% range. A far cry from the 18%-24% rates through the 80's. Now is the time for serious soul searching People. Make that quantum leap now and lock your rate in for 5 to 10 years and the next surge in interest rates won't even affect you. The sun is out so take advantage and enjoy your home shopping today. Wait not ! Act today, for tomorrow is a long way off!!!
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