New Listing for Sale near Downtown St. John’s – 52 Monkstown Road

August 18, 2011 · Filed Under New MLS Listings and St. John's MLS listings · Comment 

** SOLD** 2 story character home located in the popular Georgetown area. This property was renovated in the late 90`s by Nolan Hall and retains a lot of its original character and charm. Main floor family room and separate living room with working fireplace. In the above ground basement you can find oak cabinets and ceramic tile floors in the kitchen as well as a large dining room. There is walk out access to a large patio deck and backyard. The main bathroom has been upgraded. There is a colored stain glass window at the top of the original staircase. Enjoy a fully fenced private backyard with lots of mature trees. Property is within walking distance to downtown and Bannerman Park. Asking price is $249,900  MLS: 169164

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CREA Updates Resale Housing Forecast

August 18, 2011 · Filed Under CREA Reports and Market Trends · Comment 

The Canadian Real Estate Association (CREA) has revised its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2011 and 2012.

Overall, sales activity and prices remained stronger than expected in the second quarter. Sales momentum was also better than expected heading into the third quarter. As a result, the 2011 national forecasts for sales activity and average price have been raised slightly.
Here are some of the key points from the news release

  • National sales activity is forecast to reach 450,800 units in 2011, up less than one per cent from levels in 2010.
  • British Columbia’s 2011 sales forecast revised slightly higher, (home sales there appear to have bottomed out sooner than expected)
  •  Stronger than expected activity in Ontario offset slightly softer than anticipated demand in Quebec, Manitoba, and Newfoundland in the second quarter of 2011.
  • Ontario sales forecast for 2011 has been raised, while the outlook for activity in Quebec, Manitoba, and Newfoundland has been revised lower.
  • National sales activity in 2012 is forecast to ease seven tenths of a percentage point to 447,700 units
  • The national average home price is forecast to rise 7.2 per cent in 2011 to $363,500.

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Bungalow in Airport Heights – 56 McNiven Place

August 17, 2011 · Filed Under New MLS Listings, St. John's East End, St. John's MLS listings and St. John's Real Estate · 2 Comments 

** SALE PENDING **Well maintained fully developed bungalow on a large lot with rear yard access located in Airport Heights. This one owner home has hardwood floors throughout the main floor and an open concept living room dining room. There are three bedrooms on the main floor with a 4th bedroom in the basement as well as two full bathrooms (one main, one basement). There is a large open design rec-room complete with wet bar and propane fireplace. Vinyl windows and a 200amp electrical service. This property was once a two apartment home and can easily be converted back. Close to walking trails, Stavanger Drive, and play grounds. A great find in the east end. MLS: 169104 Asking price: $232,900  Contact Fraser and Stephen Winters for more information.

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Home near Quidi Vidi Lake – 20 The Boulevard

August 17, 2011 · Filed Under New MLS Listings, St. John's East End and St. John's Real Estate · Comment 

Well maintained bungalow situated near Quidi Vidi and close to downtown. This home has hardwood floors throughout the living room and main hallway. The spacious living room has a cozy propane fireplace. The kitchen is equipped with oak cabinets and leads out to the backyard patio deck. There have been numerous upgrades in recent years including electrical, windows, kitchen, bathroom and roof. Great home for the first time home buyer or for an investment property. 169111  Asking price is $189,900.   For more information please contact Fraser or Stephen Winters.

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July Housing Starts for the St. John’s Area

August 10, 2011 · Filed Under CMHC Reports · Comment 

CMHC released the July Housing Starts for the St. John’s Area report yesterday. Below is the press release.

ST. JOHN’S, August 9, 2011 – Housing starts in the St. John’s region were up during the month of July, according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). July’s housing starts totaled 258 units throughout the St. John’s area compared to 176 units in July of 2010. There were 24 additional starts recorded in urban centres outside the St. John’s region, for a total of 282 provincial urban housing starts.

“A sizeable increase in multiple housing starts activity contributed to the overall gains in new home construction throughout the St. John’s area in July,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Single-detached starts were up 12 per cent in July to 154 units. Despite the monthly gains, the trend towards lower levels of single housing starts in 2011 remains, with this segment of the market down 15 per cent compared to a year ago,” added Janes.

In urban centres across Canada, total housing starts recorded in July were up three per cent to 16,486 units compared to 15,947 a year ago. Single-detached starts declined 11 per cent to 6,396 units, while multiple starts increased 15 per cent to 10,090 units in July. In the Atlantic region, 1,318 new homes were started compared to 1,348 units during July 2010.

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St. John’s Real Estate Housing Now CMHC Report

August 6, 2011 · Filed Under St. John's Real Estate · Comment 

The St. John’s housing market slowed as expected during the second quarter of 2011. Here is CMHC’s Housing Now Report.

The current price environment, combined with a significant inventory of unsold homes, contributed to reduced housing market activity during the second quarter of 2011. New home construction was flat and the MLS® residential market posted a decline in sales. Average prices in both the new and existing markets continued to advance. From an economic perspective, growth in population, income and employment continued to add support to the local housing market.

New Home Construction Flat
Residential construction activity was flat throughout the St. John’s area during the second quarter. New home prices, however, continued to advance compared to the same period in 2010. Total housing starts were down approximately one per cent, with 572 starts versus 576 in 2010’s second quarter. However, there were only 387 single-detached starts compared to 499 during the second quarter of 2010, which represents a 22 per cent decline for this segment. This was offset by higher multiple starts activity, with a total of 185 units during the quarter compared to 77 a year ago. The multiple segment was led mainly by 174 starts in the form of apartments (basement) and condos.

MLS® Residential Market Favours Buyers
A modest decline in sales and higher inventory saw the market remain favourable for buyers during the second quarter. In terms of resale market characteristics, buyers had a much broader choice of homes with available inventory approximately 34 per cent higher than a year ago. Listings remained on the market for an average of 70 days, while prices continued to show gains compared to the April to June period of 2010. Despite higher inventory, offers came in at approximately 98 per cent of asking price. For the St. John’s area, there were 2,145 new residential listings compared to 1,876 during the same period last year. Active listings averaged 1,971 per month, versus 1,472 per month during the second quarter of 2010. The sales-to-active listings ratio averaged 14 per cent compared to 20 per cent during the same period a year ago.

MLS® Prices Increase Despite Sales Decline
With existing home sales lower and inventory higher throughout the St. John’s area, the average MLS® residential price still showed growth compared to the same period in 2010. The number of MLS® sales declined 10.5 per cent with 803 sales compared to 2010’s second quarter total of 897 units. The average MLS® residential price in the St. John’s CMA was 8.5 per cent higher than it was a year ago. Despite a decline in sales activity and increased inventory in the second quarter, the average MLS® residential price was $265,615 compared to $244,716 during the second quarter of 2010. The average price stabilized and remained around the $265,000 level throughout the quarter and continued to be supported by positive local economic conditions.
At the provincial level, there were 970 MLS® sales compared to 1,094 in the second quarter of 2010. The average MLS® residential price in Newfoundland was $248,525 during the April to June period – an increase of seven per cent.

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Signal Hill, Regatta Day and Fog. Typical Day in St. John’s

August 2, 2011 · Filed Under Local St. John's and St. John's General · Comment 

So tomorrow is the big day in St. John’s….the 193rd Regatta Day. The Royal St. John’s Regatta is North America‘s oldest annual sporting event dating back to 1816. If weather isn’t suitable the event is postponed until the next suitable day.  Since Regatta Day is a civic holiday in St. John’s, this means that the weather actually determines whether or not workers have the day off – a matter sometimes complicated by late-night partying associated with the end of the George Street Festival the night before. (Locally known as Regatta Roulette)

Decided to drive downtown St. John’s this morning and swing up to Signal Hill and head back to my office via Quidi Vidi Lake.  Randomly taking photos as I went. There are a great number of people out today.  Most with camera’s so I can only assume tourist’s.  Even as I drove up the road to Signal Hill the place was packed with people.  Nothing to see up there though as the fog has it completely engulfed.  No ocean view that’s for sure.

Tomorrow Quidi Vidi Lake will be surrounded with tens of thousands of people.  Each visiting “the pond” for their own personal reasons.  Whether it be family tradition, curious spectators, visiting tourists, family/friends of the rowers or just to head down for a game of chance at the concession booths – none will be disappointed.

 

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