Home sales are holding steady year over year in New Brunswick amid declining listings, according to the province’s real estate board.

Figures from the New Brunswick Real Estate Board show a total of 757 homes were sold during the month of November.

While the number of homes sold was down slightly from the month before, it is a small increase from the same period last year.

Home sales were up 14.4 per cent in Fredericton, 1.4 per cent in the Northern and Valley Regions and 0.8 per cent in Greater Moncton on a year-over-year basis. They were down nearly nine per cent in the Saint John region.

“The number of newly listed properties in November, however, experienced a significant decline, indicating re-emerging supply challenges,” Mike Power, chair of the board, said in a news release.

There were 799 new residential listings in November, the lowest number added during the month in five years, according to the board.

Active listings also fell below the 3,000-home mark for the first time since the spring and sit well below the 10-year average, said Power.

There were 2,815 units on the market at the end of November, which was 35 per cent lower than the 10-year average. It was, however, up five per cent from this time last year.

Months of inventory — the number of months it would take to sell current inventories at the current rate of sales activity — numbered 3.7, up from 3.6 months a year earlier and down from the long-run average of 6.9 months for this time of year.

“On the pricing side, despite some fluctuations over the course of 2024, average prices have consistently outpaced 2023, reflecting the underlying strength in our local markets,” said Power.

The benchmark price for single-family homes was $327,600 in November, a gain of more than 14 per cent on a year-over-year basis.