Sotheby’s bets on New Brunswick as luxury buyers seek value and privacy

A view looking toward a popular lighthouse in St. Andrews (source: contributed).

Sotheby’s International Realty Canada has expanded into New Brunswick, launching in the seaside town of St. Andrews, as the region attracts a growing class of luxury homebuyers seeking space and scenic living at a fraction of big-city prices.

Scott Bryant, Sotheby’s Atlantic regional director, said the move builds on demand that has been growing since the firm opened its Halifax office in 2022, driven in part by shifting buyer behaviour during and after the pandemic.

He said Atlantic communities such as St. Andrews, a historic town which is almost entirely surrounded by water and about a 30-minute drive to the Maine border, have become “focal points for people across the country and across the world” seeking waterfront views, expansive lots and stately homes at a relatively accessible price point. 

Bryant, who came into real estate after an executive-level career in the mortgage business, launched the Sotheby’s brand on the East Coast with his wife Angie Bryant, broker and vice president of sales.

First New Brunswick agent brings 20-plus listings

The New Brunswick operation launches with Debbie Grant, a Realtor since 2018, who joined Sotheby’s as its first representative in the province, formerly working under the Coldwell Banker banner. Bryant said Grant brought more than 20 listings with her, including vacant land, recreational properties, standard residential homes and multi-million-dollar listings.

“She’s been doing extraordinary work in that marketplace,” Bryant said, calling her “an ideal fit” and a natural choice to lead the company’s entry into New Brunswick.

What counts as luxury in Atlantic Canada

One of Grant’s listings in the heart of St. Andrews ($1.35 million).

Defining what qualifies as a luxury home in New Brunswick can be fluid, Bryant said, noting that Sotheby’s views luxury as an experience, rather than a strict price point.

“For many people, they will come and find a $500,000, $600,000 home and look at it and go, ‘Wow, in the market that I come from this would be $1.5 million, $2 million,’” he said.

In Atlantic Canada, Bryant said the luxury threshold can range “anywhere from $500,000 right up through to $2 and $3 million,” with properties above $1 million becoming more common over the past five to six years.

Bryant said many buyers are drawn to oceanfront properties in St. Andrews, while in other parts of the province, lakes and rivers can be just as attractive. “People marvel at the fact that they’re acquiring two acres, if not 200 acres,” he said.

A custom 3,100-square-foot home with tidal river views is among Grant’s listings, priced at $1.295 million, which includes nearly three acres of private, manicured grounds in the rural community of Oak Bay. 

The town of St. Andrews, which has a population of more than 2,000, is rich with character homes, including two four-bedroom homes currently listed by Grant on Montague Street for $1.15 million and $1.35 million. 

Expansion planned for bigger hubs

While St. Andrews is the starting point, Bryant said the company intends to expand across the province by adding agents in other communities.

He said that Moncton, Dieppe, Saint John and Fredericton are expected to be next. 

“We’re actively pursuing that and looking forward to having more people.”

He said the company aims to find the “right professionals” for each community rather than expanding rapidly with large numbers of agents.

Buyers from across Canada and the U.S.

Buyer interest has come from within the region as well as from across Canada and the United States, Bryant said.

The shift to remote work during the pandemic helped fuel interest from Ontario, Alberta and British Columbia, while people in the southern part of the U.S. see Atlantic Canada as an escape from the blistering summer heat.

Bryant said policies like the foreign buyer ban have made business more challenging, but “it hasn’t stopped the influx of inquiries.” 

Bryant said many buyers initially arrive intending to stay only part of the year, but later begin treating the property as a near full-time home. “They think it’s going to be a month or two, maybe in the summer, but we find that they’re coming back over Christmas time, spending the holidays,” he said.

Halifax base continues to grow

He said the New Brunswick expansion reflects how clients view Atlantic Canada as one interconnected region rather than separate provincial markets. Coverage across the two Maritime provinces helps the brokerage give buyers exposure to more choice in the region.

“It’s an extraordinary place, and I think oftentimes a part of the country that doesn’t get the accolades it deserves, so I couldn’t be prouder to be representing the brand in both provinces,” said Bryant.

Sotheby’s Atlantic Canada operation currently includes 15 people in Nova Scotia, including 13 licensed agents and one administrator.

Bryant said the Nova Scotia team has completed roughly 240 transactions annually over the past two years.

“This was never about the acquisition of multiple agents,” Bryant said. “This was about ensuring that we have collective coverage and that we provide this high level of service to the consumer.”