MLS Listing Sales down – St. John’s housing prices up

July 22, 2009 · Filed Under CMHC Reports and Market Trends · 1 Comment 

MLS sales retreated 8% to 996 units compared to 2008’s second quarter sales of 1,084 units.  April, May and June MLS sales were 259, 316 and 421, respectively. Despite the drop in sales, second quarter average MLS prices for St. John’s and surrounding areas up 20% to $203,854 compared to $169,942 during the second quarter of last year.  This is the only consecutive price growth in Canada since the fourth quarter of 2008.q2buyersmarket

Sales-to-active listings ratio increased to 19.6% in June and averaged 16.4% during Q2, indicating the market favouring buyers, particularly in April and May. However, as you can see from the chart, we are swinging upwards and my estimate we’ll see a balanced market for the third quarter. The St. John’s real estate market actually feels like a balanced market now.

The Bank of Canada left the prime lending rate at 0.25% the other day.  However mortgage rates are predicted to drift higher in 2010.

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New Addition to the Father And Son Team

July 15, 2009 · Filed Under Market Trends and St. John's Real Estate · 1 Comment 

Well, it’s been a few weeks since I’ve posted anything on my blog, but all with good reason – It’s a baby boy!  Nicholas Winters is the quasi new member of the Father and Son Team.  Or is it Grandfather and Father Team now.

The St. John’s Real Estate Market average house prices are still slowly increasing.  Up to approx $211,000 now.  CHMC haven’t released this quarters stats yet but I’d be curious to see if the trend has shifted from a buyers market to a balanced market.  It does feel more balanced out there on the street.  Active listings are still up in number but buyers are plentiful as well.

The local St. John’s housing market has been in the news the past week.  I’ve watched news clips on both CBC News and the NTV Evening News.  Both reports positive market conditions.

RE/MAX has released a press release titled Recovery underway in key Canadian markets ends buyer dominance in resale housing, says RE/MAX which boasted even more positive news for the St. John’s market.  You can read the St. John’s Market-by-Market review here.

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St. John’s real estate market up 24% since same time period last year

July 15, 2009 · Filed Under Market Trends and St. John's Real Estate · Comment 

Strong consumer confidence, buoyed by a vibrant local economy and a healthy employment picture, has kept St. John’s real estate engine moving at a steady clip. With billions of dollars in capital works projects planned or underway, in-migration remains positive and demand for resale housing continues to be solid. Improving inventory levels have shifted the market slightly into buyers territory, giving purchasers the necessary traction to make their moves. The threat of interest rate hikes has further stimulated home buying activity, pushing fence-sitters off the sidelines and into action. Residential sales in June 2009 (354 units) are slightly ahead of June 2008 (351 units) figures. The year-to-date average price recorded a 24 per cent increase to $211,221, compared to $170,500 for the same time period last year, bolstered by greater momentum in the mid-range. Corporate transfers have been a significant stimulus. Entry-level homes, priced between $100,000 and $200,000, are being snapped up at an unprecedented pace given the sharp upswing in pricing. Listing inventory levels are higher and the upper-end continues to move well, supported by the relocation market. Inventory will be a key factor influencing St. John’s housing sector in the months ahead. The pace is expected to continue, with sales rounding out the year at or ahead of 2007 levels, but below record numbers reported in 2008.

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New listing near Avalon Mall, MUN and Health Sciences

July 7, 2009 · Filed Under First Time Buyers, New MLS Listings, St. John's Investments and St. John's MLS listings · 2 Comments 

25maclarenNew St. John’s MLS listing – 25 Maclaren Place. Two year old three bedroom home located in Grovesdale Park, near MUN, Health Sciences, and the Avalon Mall. Laminate flooring throughout most of home. Eat-in country style kitchen with patio door leading to pressure treated deck. Main floor laundry and bathroom combo. Large master bedroom with ensuite and walk-in closet. Still under 7 year Atlantic Home Warranty. Baby barn in fully landscaped, partially fenced back yard. Shows pride of ownership.  Could make for a great investment property due to the proximity to the university.  Call Stephen or Fraser Winters for more info.  Asking price $209,900.

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