New home for Sale in East End St. John’s – 16 Cahill Drive

April 28, 2010 · Filed Under St. John's East End, St. John's MLS listings and St. John's Real Estate · Comment 

Fraser and Stephen Winters have just listed 16 Cahill Drive.  A very well maintained bedroom split entry home in Airport Heights (east end St. John’s). Oversized master bedroom with double closets. Spacious eat-in country style kitchen with new exterior door leading to a 10×10 patio deck. Laminate and ceramic flooring throughout most of main floor. Basement includes a tastefully decorated recroom with pre-engineered hardwood flooring, large laundry room and a third bedroom. Backyard is partially fenced and includes a storage shed.  On Metro bus route.  Asking price is $249,900. MLS number: 153463.

To view interior photos click here

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Newfoundland Real Estate March Stats

April 19, 2010 · Filed Under Monthly MLS Stats · Comment 

The number of listings were up for the month of March by 13% compared to March 2009. Sales as well are up by 25% year to date compared to last year.  Interestingly the average house price for St. John’s dropped slightly last month by almost $5000 compared to February’s MLS listing averages.  The twelve month overall average for St. John’s is still increasing with a figure of  $243,532. There was a fair number of buying/selling activity in between 260k and 350k last month. With the spring market upon us we will start to see increased activity from both buyers and sellers.

Total # of new MLS Listings [Mar] =933 (based on residential stats)

Total # of Sales [Mar] = 336

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3020 (residential only)

Here is a break down by area for the month of March

St. John’s Real Estate: Listings = 181   Sales = 89 Sales/Listings Ratio = 49%

Average Sale Price is St. John’s: $266,336 for the month of March and the 12 month average $243,532

Mount Pearl Real Estate: Listings = 19 Sales = 9  Sales/Listings Ratio = 47%

Average Sale Price (12 month average): $221,094

Paradise Real Estate: Listings =60 Sales = 31 Sales/Listings Ratio =52%

Average Sale Price (12 month average): $271,002

East Extern Real Estate: Listings = 31 Sales = 17  Sales/Listings Ratio = 55%

Average Sale Price (12 month average): $266,462

Conception Bay South Real Estate: Listings = 49   Sales = 22  Sales/Listings Ratio = 45%

Average Sale Price (12 month average): $228,770

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House for sale in Clovelly Subdivision – 9 Compton Place

April 7, 2010 · Filed Under New MLS Listings, St. John's East End and St. John's MLS listings · Comment 

Fraser and Stephen Winters have just listed 9 Compton Place in the popular Clovelly subdivision.  A beautiful 3 bedroom 2-story home with attached garage located on a child safe cul-de-sac in east end St. john’s.  Hardwood floors throughout most of home.  Lots of ceramic tiles in kitchen and bathrooms.  The large main foyer boasts black slate floors giving you a “WOW” when you first enter the home.  Contemporary style eat in kitchen with black cabinets, granite counter tops and Jen-Air stove-top in the center island.  Dining room (with propane fireplace) and connecting family room provide a nice open concept layout.  A separate den has its own entrance to a walk out patio.  Large master bedroom with vaulted ceiling and ensuite with jacuzzi tub.  Fenced backyard and fully landscaped. MLS Number: 152792 Asking price is $379,900 Click here for a virtual tour of 9 Compton Place

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First Quarter Newfoundland MLS Trends 2010

April 7, 2010 · Filed Under CMHC Reports, First Time Buyers, Market Trends and St. John's Real Estate · Comment 

Canada Mortgage and Housing have released the First Quarter 2010 MLS Trends – Newfoundland and Labrador issue.  Below are the key points in the release.

Record MLS® Residential Sales during First Quarter

  • „„MLS® sales increased 25.8% to a record 784 compared to 2009’s first quarter sales of 623 „„January, February and March MLS® sales were 240, 234 and 310, respectively.
  • „„First quarter average MLS® residential house price climbed nearly 18% to $230,376 compared to $195,517 during the first quarter of 2009.

Market Conditions Fluctuated

  • „„There were approximately 1,850 new residential listings during the first quarter compared to 1,500 during the same period in 2009 „„Active listings or inventory averaged 1,500 from January to March and around the same during Q1 of 2009.
  • The sales-to-active listings ratio dipped into buyers territory, but hit 18.9% in March and averaged 17.3% during the quarter versus 13.8% in the first quarter of 2009

Active Listings Remain Low

  • „„Despite the surge in new listings, record first quarter sales caused active residential listings to remain relatively low
  • „„Active listings for January, February and March were 1,369, 1,503 and 1,644, respectively
  • „„Although inventory was similar to 2009’s first quarter level, the 25.8% increase in sales resulted in balanced market conditions during most of the quarter

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St. John’s Property Assessment and Property Tax Information

April 6, 2010 · Filed Under First Time Buyers, St. John's Investments, St. John's Real Estate and St. John's Relocation · Comment 

The St. John’s Property assessment is the estimated value of a property (land and building) utilized for municipal taxation purposes.  The “Assessment Act 2006” is the Legislative authority governing assessment and taxation in the City. The assessment value can at times be similar to fair market value, however with the fast changing St. John’s Real Estate market the two values can be greatly different in figures.

From the City of St. John’s website  “the City’s assessments are calculated on the basis of a property’s market value as of a specific point in time, referred to as the “base date”. The presently applicable “base date” on which your assessment is calculated is January 1st, 2008. In other words, the market value of your property on that date is presently utilized to calculate your municipal taxes for 2010.”

To find out the assessment value of a home in St. John’s visit the Property Assessment Search

Annual residential property taxes for St. John’s are calculated at a rate of 10.1 mils, or 1.01 % of a property’s total assessment (for the year 2010).  A property with a total assessed value of $100,000. would be charged an annual property tax of $1010.00, calculated as follows:

Assessed Value of St. John’s Home = $100,000.
Multiplied by the Mil Rate = .0101 (10.1 Mils)
Annual Property Tax for 2010 = $1010.00

Don’t forget to include your water taxes. Water taxes for St. John’s are a flat rate of $520. (multiplied by 2 if you have a 2-apt home)

So a $100,000 property would have a total property tax of $1530 for the year or $127.50 per month.

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