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Newfoundland Real Estate MLS Stats February
Buyers are taking advantage of favourable real estate market conditions around St. John’s and areas….sellers too are reaping the rewards. Multiple offers are a factor in our marketplace once again, with well-priced listings—especially around the $200k to $260k price range. Properties priced at market value will likely sell quickly for top dollar. The overall pressure on sales and price is significant across the board – and it’s not likely to subside unless more inventory comes on-stream. The Bank of Canada released today that it will keep it’s interest rate “as is” but hinted at the fact it will most likely increase in June/July due to Canada’s higher then expect latest GDP numbers.
Total # of new MLS Listings [Feb] =567 (based on residential stats)
Total # of Sales [Feb] = 259
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2650 (residential only)
Here is a break down by area for the month of February
St. John’s Real Estate: Listings = 117 Sales = 66 Sales/Listings Ratio = 56%
Average Sale Price is St. John’s: $270,742 for the month of February and the 12 month average $240,470
Mount Pearl Real Estate: Listings = 13 Sales = 7 Sales/Listings Ratio = 54%
Average Sale Price (12 month average): $218,063
Paradise Real Estate: Listings =64 Sales = 18 Sales/Listings Ratio =28%
Average Sale Price (12 month average): $268,980
East Extern Real Estate: Listings = 37 Sales = 14 Sales/Listings Ratio = 38%
Average Sale Price (12 month average): $259,371
Conception Bay South Real Estate: Listings = 48 Sales = 19 Sales/Listings Ratio = 40%
Average Sale Price (12 month average): $225,728
Newfoundland Real Estate Stats for August
We are about to enter into the fall St. John’s real estate market and things are still looking positive for the remainder of the year. Average MLS housing prices for Newfoundland have been steadily increasing throughout the year. Thanks to continuing low mortgage rates first time buyers and those looking to up size to bigger homes can still do so despite the large increase in Newfoundland housing prices since last year. Two apartment (2-apt) homes are still in high demand and if priced right usually sell fairly quickly and for top dollar.
The average price for a home in St. John’s edged slightly higher again for another month, currently at $223,810 for a 12 month period) compared to the Newfoundland Average Sale Price of $201,799. This is up from $170,941 from last years prices.
Total # of MLS Listings [Aug] =494 (based on single family homes)
Total # of Sales [Aug] = 336
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2261 (residential only)
Here is a break down by area for the month of August
St. John’s Real Estate: Listings = 187 Sales = 147 Sales/Listings Ratio = 79%
Average Sale Price is St. John’s: $244,195 for the month of August
Mount Pearl Real Estate: Listings = 25 Sales = 26 Sales/Listings Ratio = 104%
Average Sale Price: $200,862
Paradise Real Estate: Listings =65 Sales = 33 Sales/Listings Ratio =51%
Average Sale Price: $261,353
East Extern Real Estate: Listings = 36 Sales = 23 Sales/Listings Ratio = 64%
Average Sale Price: $250,678
Conception Bay South Real Estate: Listings = 37 Sales = 40 Sales/Listings Ratio = 108%
Average Sale Price: $228,363
Newfoundland Real Estate Stats for May
The spring real estate market is upon us as noted by the increase in Active MLS Listings last month. Average home prices in all areas have increased since the April St. John’s Real Estate Market Stats. Increased housing prices means added pressure to first time buyers. This spins off into lower vacancy rates – great for those who own investment 2-apt homes or considering buying an investment property. Houses are still staying on the market longer – pricing your home correctly is crucial in the market. I would still call it a buyers market, but again, there are still some houses receiving multiple offers.
The average price for a home in St. John’s edged slightly higher again for another month (currently at $210,969 for a 12 month period).
Mortgage rates are still at all time lows. The Bank of Canada’s Prime lending rate is at 2.25% and supposed to hold steady here til 2010. Great for varible rate mortgages but it might be the time to look into a fixed term as the rates can only go up from here.
Total # of MLS Listings [May] = 1108
Total # of Sales [May] = 347
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3491
Here is a break down by area for the month of May
St. John’s Real Estate: Listings = 210 Sales = 103 Sales/Listings Ratio = 49%
Average Sale Price: $221,707 for the month of May
Mount Pearl Real Estate: Listings = 46 Sales = 15 Sales/Listings Ratio = 33%
Average Sale Price: $201,126
Paradise Real Estate: Listings =46 Sales = 21 Sales/Listings Ratio =46%
Average Sale Price: $240,342
East Extern Real Estate: Listings = 36 Sales = 27 Sales/Listings Ratio = 75%
Average Sale Price: $236,090
Conception Bay South Real Estate: Listings = 50 Sales = 20 Sales/Listings Ratio = 40%
Average Sale Price: $205,934
Newfoundland Real Estate Stats for April
Active MLS Listings have increased this month compared to March NLAR stats, while home sales have remained fairly constant. The biggest increase in stats was Expired Listings. Up a whopping 39% since last year. What does this mean to the St. John’s Real Estate Market? Houses are staying on the market longer. Potential for price reductions. It appears to be slipping into a buyers market now. However, there are still houses selling the same day and some still seeing multiple offers.
The average price for a home in St. John’s edged slightly higher again for another month (currently at $206,938 for a 12 month period).
Mortgage rates are still at all time lows. The Bank of Canada’s Prime lending rate is at 2.25% and supposed to hold steady here til 2010. Great for varible rate mortgages but it might be the time to look into a fixed term as the rates can only go up from here.
Total # of MLS Listings [Apr] = 975
Total # of Sales [Apr] = 288
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2953
Here is a break down by area for the month of April
St. John’s Real Estate: Listings = 181 Sales = 66 Sales/Listings Ratio = 36%
Average Sale Price: $214,590 for the month of April
Mount Pearl Real Estate: Listings = 24 Sales = 10 Sales/Listings Ratio = 42%
Average Sale Price: $198,655
Paradise Real Estate: Listings =65 Sales = 22 Sales/Listings Ratio =34%
Average Sale Price: $239,039
East Extern Real Estate: Listings = 45 Sales = 18 Sales/Listings Ratio = 40%
Average Sale Price: $231,872
Conception Bay South Real Estate: Listings = 56 Sales = 15 Sales/Listings Ratio = 27%
Average Sale Price: $202,399
Newfoundland Real Estate Stats for March
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
The average price of a home in the St. John’s Real Estate market is now $205,040 compared to the provincial average of $188,111 YTD for 2009. Note this is for ALL Newfoundland (nlar.ca)
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
Newfoundland Real Estate Stats for January
After coming to a dramatic slowdown in December from a banner 25% price increase year, 2009 is back in full swing. Although sales are down (25% compared to last January), much needed listings are up (5%). Officially we are into a balanced market now. Increased inventory, record low mortgage rates and what appears to be still a lot of buyers, the real estate market in St. John’s should hold its own compared to the rest of Canada.
This month, Newfoundland’s Real Estate MLS housing price break down is showing a 25% decrease in sales while there are currently 680 listings, an increase of 5% from last year. Majority of the sales showing were in the $200,000 to $350,000 price bracket.
Total # of New MLS Listings [Jan] = 680
Total # of Sales [Jan] = 200
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2289
The average price of a home in the St. John’s Real Estate market is now $198,757 2008. Compared to the provincial average of $184,055 YTD for 2009. Note this is for ALL Newfoundland (nlar.ca)
Here is a break down by area for the month of January
St. John’s Real Estate: Listings = 117 Sales = 48 Sales/Listings Ratio = 41%
Average Sale Price: $219,146 for the month of January
Mount Pearl Real Estate: Listings = 11 Sales = 6 Sales/Listings Ratio = 55%
Average Sale Price: $208,667
Paradise Real Estate: Listings =52 Sales = 14 Sales/Listings Ratio =27%
Average Sale Price: $264,325
East Extern Real Estate: Listings = 32 Sales = 16 Sales/Listings Ratio = 50%
Average Sale Price: $229,048
Conception Bay Real Estate: Listings = 41 Sales = 17 Sales/Listings Ratio = 41%
Average Sale Price: $192,321
December St. John’s Newfoundland MLS stats
December is typically a slower month for real estate and the stats for this month show it. Christmas, and the preparation for Christmas takes up most of the month. For the most part, the buying and selling of homes is left to those that have no choice but to keep the house hunting active.
This month, Newfoundland’s Real Estate MLS housing price break down is showing a whopping 18% decrease in sales while listings this month show an increase of 16%. Year to date, listings are up slightly by 3% and sales up 7% compared to this time last year.
Total # of New MLS Listings [Dec] = 357
Total # of Sales [Dec] = 312
Number of Active Listings in the NLAR MLS System = 2065
The average price of a home in the St. John’s Real Estate market is now $195,970 2008. Compared to $173,844 YTD for 2007. Note this is for ALL Newfoundland (nlar.ca)
Here is a break down by area for the month of December
St. John’s Real Estate: Listings = 73 Sales = 5 Sales/Listings Ratio = 7%
Average Sale Price: $202,896
Mount Pearl Real Estate: Listings = 11 Sales = 0% Sales/Listings Ratio = 0%
Average Sale Price: no sales for this month so $190,662 is YTD
Paradise Real Estate: Listings =29 Sales = 2 Sales/Listings Ratio =7%
Average Sale Price: $273,850
East Extern Real Estate: Listings = 14 Sales = 3 Sales/Listings Ratio = 21%
Average Sale Price: $225,674
Conception Bay Real Estate: Listings = 15 Sales = 1 Sales/Listings Ratio = 7%
Average Sale Price: $201,814
The yard to date sales/listings ratio is 54%
Recommended Real Estate Links
- Fraser and Stephen Winters
- Remax St.John's
- Terry Kelly
- St. John's MLS Listings
- Carter Home Designs
- St. John's Newspaper
- VOCM Local News
- CBC Newfoundland
- Eastern School District
- St. John's Weather
- St. John's Board of Trade
Real Estate Sites
- Search MLS.ca
- St. John's Listings
- Globe & Mail Real Estate
- Real Estate Blogs Directory
- Canadian real estate
- Home Builders Association
- Atlantic Home Warranty
- Homeplus Online
Recent Entries
- CMHC Reports St. John’s Area February Housing Starts
- Investment property near CONA, MUN and Marine Institute – 156 Higgins Line
- New Listing near Memorial University and Avalon Mall – 12 Keane Place
- Newfoundland Real Estate MLS Stats February
- Low inventory levels set stage for heated Spring market says RE/MAX
- Protect, Maintain and Enhance the value of your home with HouseLogic
- Kirkland Balsom St. John’s Real Estate Market Overview 2010
- Changes made to Canadian Mortgages
- Interesting Real Estate links throughout Canada
- New home for sale in St. John’s East End 28 Cambridge Ave
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