New Brunswick’s housing market is sending mixed signals. Home prices are climbing, but sales are dropping across the province. If you are looking to buy or sell in Saint John, you are in the most resilient market in the region. According to a recent report from Canadian Mortgage Professional, May 2026 saw a sharp decline in provincial sales, even as benchmark prices rose for the sixth straight month.

Saint John Defies Provincial Sales Slump

Sales activity fell across all areas of New Brunswick in May. The province recorded 925 home sales, a 12.4 percent drop from the same time last year. However, Saint John weathered the storm better than any other region. Sales in Saint John dipped by just 0.9 percent. In contrast, Greater Moncton saw a steep 19.8 percent decline, and Fredericton dropped by 8.8 percent.

Saint John recorded 216 sales and 321 new listings in May. The city generated nearly $85 million in dollar volume with an average price of $393,056.

Prices Continue to Climb Across New Brunswick

Despite fewer homes changing hands, prices remain firm. The overall MLS Home Price Index composite benchmark price hit $352,200 in May. This represents a 10.1 percent increase from a year earlier.

Townhouses led the charge with a massive 17.2 percent year over year gain, reaching a benchmark price of $281,100. Single family homes also saw strong growth, rising 10.2 percent to $353,600. Apartments lagged behind, increasing by just 2 percent.

Inventory Grows but Sellers Keep the Edge

Buyers have more options to choose from this spring. New listings rose 4.7 percent from last year, marking the fifth consecutive monthly increase. Active residential listings reached 3,728 units by the end of May. This is the highest level seen for the month in over five years.

Justin Morehouse, chair of the New Brunswick REALTORS du Nouveau Brunswick, notes that the market remains slightly tilted in favor of sellers.

“May delivered a mixed but steady picture for the housing market,” Morehouse said. “Sales were lower than last year but improved from April, even though activity remained well below what we would normally expect for this time of year.”

He added that the rise in active listings helped keep overall market conditions largely balanced. The Bank of Canada holding its interest rate at 2.25 percent continues to add caution to the market.

Frequently Asked Questions

Are home prices dropping in New Brunswick?

No. Home prices are actually rising. The benchmark price reached $352,200 in May, up 10.1 percent from last year.

How is the Saint John real estate market performing?

Saint John is the most resilient market in the province. While other regions saw double digit sales declines, Saint John sales fell by less than one percent.

Is it a buyer or seller market right now?

The market is largely balanced but still slightly favors sellers. Inventory is growing, giving buyers more options, but prices remain strong.

What type of home is seeing the biggest price increase?

Townhouses and row houses saw the largest price jump, increasing by 17.2 percent year over year.