A drastic drop in home sales and new listings in Greater Moncton amid the COVID-19 pandemic this spring has created a seller’s real estate market, according to the Greater Moncton Realtors group.
Parise Cormier, president of the Greater Moncton Realtors group, said people are getting into bidding wars over homes listed for sale in the city because there are so few on the market right now.
Cormier said that during the peak of the pandemic, the province would only allow realtors to broker essential sales, meaning “people who sold a house that had to move or people who were transferred here.” Cormier said that only 139 units were sold in April, which was a drop of 47 per cent over last year.