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Moncton ranked top place to buy real estate – again

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Like many of her clients, realtor Jenny Celly and her family moved from southern Ontario to southeast New Brunswick to find a more affordable home.

The slower pace and quality of Maritime life was very appealing.

“There’s less traffic. People, because they’re not as stressed out, they are friendlier, in my opinion, so that attracts a lot of people,” said Celly.

Moneysense.ca and Zoocasa, a consumer real estate search platform, have ranked Moncton as the top place in Canada to buy real estate for the third straight year.

Forty-five neighbourhoods and municipalities were ranked using factors such as the average price of a home, price growth over time and neighbourhood characteristics.

According to the rankings, the Greater Moncton area is highest in value and best buying conditions and has a seen a growth of 69 per cent over the past three years.

Celly said the region is still seeing buyers from Ontario and British Columbia purchasing homes sight unseen using Zoom or FaceTime – something that was very popular during the pandemic.

“I put myself in their shoes. So I’m saying, ‘OK, it smells kind of funny,’ because you are being their eyes and they will put in an offer after seeing the home via video. Most of the buyers are seeing their home for the first time on closing day,” said Celly.

One of realtor Tracy Gunter’s homes in north end Moncton recently sold in less than two weeks.

Realtor Tracy Gunter is pictured. (Derek Haggett/CTV Atlantic)

Gunter said it’s a seller’s market here, but there isn’t a lot of inventory.

“We don’t have a lot to sell. So, our buyers are coming in, they want to spend their money, but we don’t have the homes for them to buy. There is a house shortage,” said Gunter.

Gunter said what is selling are semi-detached homes and properties under $400,000 to people from outside the province and the country.

The average price of a home in the Greater Moncton area last year was $328,383.

“Things are slowing down a little bit, but people are still coming,” said Gunter. “Right now, it’s just finding homes for the people that need them.”

Moncton Mayor Dawn Arnold said the city’s appeal is its lifestyle and residents.

“We have kind, compassionate, collaborative people that want to work together that are engaged. They want to be a part of it all. There’s a real feeling of positive energy in our community right now,” said Arnold. “There’s really amazing people in our community.”

Realtor Jenny Celly is pictured. (Derek Haggett/CTV Atlantic)

Celly said the area is attracting many families, retirees, and investors.

The main reason: the prices.

“We’re looking at bigger markets, bigger cities where prices are two to three times more than what you find in Moncton,” said Celly. “A lot of people who are looking at the Maritimes are also looking at the quality of life.”

Saint John was ranked second for best places to buy real estate, Fredericton fourth and Halifax/Dartmouth was sixth. 

For more New Brunswick news visit our dedicated provincial page.

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