As home sellers in St. John’s real estate market adjust to increasingly competitive market conditions, RE/MAX has launched Fit To Sell, a timely program designed to secure a quick sale for top dollar.
“In the past two months, hundreds of homes have been listed for sale, but only 40 per cent have sold,” explains Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. “This innovative new program encourages existing homeowners to increase their stake in the home-selling process by working with their real estate professional to maximize their homes’ potential.”
The launch of Fit To Sell coincides with the opening of the St. John’s Home Show, scheduled for April 30 through to May 3, at the Mile One Centre. RE/MAX will be presenting its Fit To Sell tips, developed with the help of popular staging expert Carla, host of the DVD series ‘How to Stage your own Home’ and owner of Nex-Step Design, at the event.
“We know that location, price, and condition are the three major factors that come into play when selling a home – and while location and price are clearly choices made by the buyer at the onset, condition is the one factor that a seller can influence,” says Polzler. “Sellers who make the right decision in preparing their home for sale can significantly improve their bottom line.”
Check out the Fit to Sell website www.fittosell.ca for a comprehensive package of videos and checklists to get top dollar for your St. John’s home.
Be sure to fill out your online ticket for a chance to win a $25,000 Viking Kitchen through the RE/MAX Ultimate Viking Kitchen Contest.
Don’t miss Newfoundlands largest building and renovation home show. April 30th to May 3rd RE/MAX is proud to present the 26th Annual Home Show at Mile One Centre. Brought to you by the Canadian Home Builder’s Association – Eastern Newfoundland.
Home Show 2009 is organized by the Canadian Home Builders’ Association – Eastern Newfoundland (CHBA-EN) to provide a meeting place for consumers and professional members of the residential construction industry. A primary focus for the Show organizer is the sharing of information on energy efficiency, healthy housing, and the value provided by contracting with professional product & service providers.
CMHC MLS Trends has released their first quarter analysis of the St. John’s Residential Real Estate Market.
The results: Residential Sales Down; Prices Up in First Quarter
First quarter average MLS® prices are up 24.6% to $195,517 compared to $156,953 during the first quarter of 2008. This considerable jump is on par from the average MLS® price of 2008. Keep in mind that the average price from the 4th quarter 2008 has only inched slightly higher from the 1st quarter 2009 prices. We are holding our own for Newfoundland housing prices. Our figures actually represent the only price growth market in Canada quarter over quarter.
Active Newfoundland listings for January, February and March were approximately 1,350, 1,500 and 1,600, respectively, with new listings of 516, 433 and 570, respectively. MLS® sales fell 12.6% to 623 units compared to 2008’s first quarter sales of 713 units
CMHC just released the following report on housing starts in St. John’s.
Urban housing starts were positive during the first quarter of 2009, despite retreating slightly during the month of March, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC). Housing starts totaled 214 throughout the St. John’s area during the first quarter compared to 172 starts during the same period last year. For the month of March, there were 45 starts compared to 55 during March of 2008. With 224 total starts recorded province-wide versus 176 a year ago, Newfoundland and Labrador was the only province in Canada with positive first quarter results.
“Despite retreating slightly during the month of March, urban housing starts posted solid results during the first quarter of this year, increasing 24 per cent over the same threemonth period in 2008,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “The local economy remains stable and continues to support housing market activity,” added Janes.
For Canada’s urban centres, total housing starts fell 45 per cent with 8,629 recorded in March compared to 15,616 during March of 2008. Single-detached starts decreased 46 per cent to 2,566, while multiple starts of 6,063 represent a 44 per cent decline from a year ago. Throughout Atlantic Canada, there were 244 urban housing starts posted
versus 522 the previous March.
New home construction in Canada is slowing to more sustainable levels and starts are forecast to come in at 160,250 units, within a range of 141,000 to 180,000 units in 2009. These trends are reflected in the year-to-date actual starts. These decreases, however, should be viewed in the context that housing starts have been exceptionally strong over
the past 7 years, exceeding 200,000 units per year.
65 acres of land in Pleasantville could be given the go ahead next month. Single family, duplexes, condo’s and town homes are expected to surround the shores of Quidi Vidi Lake. If approved lands sales could go on sale by the end of the summer.
It’s been an interesting 1st quarter for the Real Estate in Newfoundland. The sky has not fallen in the St. John’s real estate market like the media and public were anticipating. The average price for a home in St. John’s edged slightly higher (currently at $205,040 for a 12 month period). Listings have increased in number as have the number of sales for the month of March.
Mortgage rates are at all time lows. (4.15% for a 5 year term seems to be the norm at the time of posting). Variable rates have dropped considerably in the past year. The variable mortgage rate was close to 6% middle of last year compared to 3.25% now.
This month, Newfoundland’s Real Estate MLS housing price break down is showing a 2% increase in sales while there was 789 new listings, an increase of 17% from last year. Majority of the sales showing were in the $200,000 to $350,000 price bracket once again.
Total # of MLS Listings [Mar] = 789
Total # of Sales [Mar] = 266
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2658
Here is a break down by area for the month of March
St. John’s Real Estate: Listings = 148 Sales = 83 Sales/Listings Ratio = 56%
Average Sale Price: $219,257 for the month of March
Mount Pearl Real Estate: Listings = 21 Sales = 11 Sales/Listings Ratio = 52%
Average Sale Price: $198,959
Paradise Real Estate: Listings =43 Sales = 24 Sales/Listings Ratio =56%
Average Sale Price: $235,156
East Extern Real Estate: Listings = 32 Sales = 13 Sales/Listings Ratio = 41%
Average Sale Price: $202,407
Conception Bay South Real Estate: Listings = 47 Sales = 19 Sales/Listings Ratio = 40%
Average Sale Price: $184,753