St. John’s Newfoundland Real Estate July MLS Stats

August 11, 2010 · Filed Under Monthly MLS Stats and St. John's Real Estate · Comment 

As expected the real estate market for St. John’s and surrounding areas noticed a little slow down in July.  Housing inventory appeared to be on the rise as well as the number of price reductions.  The number of listings are up 4% this year compared to the same time last year and the number of sales are down 10%.  Personally I think this is a little “blimp” in the market and should be no cause for concern.  Majority of the houses sold in and around St. John’s were in the $260,000 to $349,900 range.  There have been 6 houses that sold this year over the 1 million figure.

Total # of new MLS Listings [July] =1054 (based on residential stats)

Total # of Sales [July] = 522

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3937 (residential only)

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

St. John’s Real Estate: Listings = 199   Sales = 118  Sales/Listings Ratio = 59%

Average Sale Price is St. John’s: $281,912 for the month of July and the 12 month average $256,553

Mount Pearl Real Estate: Listings = 28 Sales = 22  Sales/Listings Ratio = 79%

Average Sale Price (12 month average): $226,224

Paradise Real Estate: Listings =64 Sales = 51 Sales/Listings Ratio =80%

Average Sale Price (12 month average): $278,293

East Extern Real Estate: Listings = 43 Sales = 32  Sales/Listings Ratio = 74%

Average Sale Price (12 month average): $277,410

Conception Bay South Real Estate: Listings = 47   Sales = 36  Sales/Listings Ratio = 77%

Average Sale Price (12 month average): $239,621

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New listings near downtown St. John’s 37 Golf Ave

July 30, 2010 · Filed Under First Time Buyers, New MLS Listings, St. John's Investments, St. John's MLS listings and St. John's Real Estate · Comment 

Great Location near downtown St. John’s.  37 Golf Ave – $159,900 Spacious 5 bedroom home with two bathrooms located within walking distance to Mun and close to St. Clare’s Hospital. Large deep lot. Main floor laundry. Hot Water Radiation heat. Mostly new vinyl windows. 125 Amp Breaker Panel. Off street parking. Great Investment property.  MLS:157071 Call Fraser or Stephen Winters for more information.

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Investment property in St. John’s near Memorial University of Newfoundland – 39 Weymouth

July 15, 2010 · Filed Under New MLS Listings, St. John's Investments, St. John's MLS listings and St. John's Real Estate · Comment 

Great investment property on the doorstep of Memorial University of Newfoundland (MUN). 39 Weymouth is a 2400 sqft fully developed 3 bedroom bungalow with a 2 bedroom inlaw suite in the basement. Within the past few years there have been numerous upgrades including new vinyl siding, vinyl windows and shingles. Hardwood floors throughout most of the main floor. Open concept family room / dining room separated by a wood burning fireplace. There is a large deck and mature trees providing lots of privacy in the backyard. Close to Health Sciences, MUN and the Avalon Mall. Asking price is $314,900 REDUCED: $304,900 MLS: 156488

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St. John’s Newfoundland Real Estate June MLS Stats

July 12, 2010 · Filed Under Monthly MLS Stats and St. John's Real Estate · Comment 

The real estate market for St. John’s and surrounding areas saw slight increases in the number of listings on the market in June as well as the number of sales.  The number of expired listings are up a whopping 23% since the same month last year.  What’s the cause?  As I mentioned there are a lot of listings on the market so supply and demand would be a factor for sure.  The biggest reason is there are a lot of houses listed on MLS in the St. John’s real estate market that are over priced.

Total # of new MLS Listings [Jun] =1141 (based on residential stats)

Total # of Sales [Jun] = 483

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3777 (residential only)

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

St. John’s Real Estate: Listings = 220   Sales = 121 Sales/Listings Ratio = 55%

Average Sale Price is St. John’s: $264,848 for the month of June and the 12 month average $251,390

Mount Pearl Real Estate: Listings = 30 Sales = 13  Sales/Listings Ratio = 43%

Average Sale Price (12 month average): $224,158

Paradise Real Estate: Listings =70 Sales = 37 Sales/Listings Ratio =53%

Average Sale Price (12 month average): $278,250

East Extern Real Estate: Listings = 52 Sales = 15  Sales/Listings Ratio = 29%

Average Sale Price (12 month average): $271,421

Conception Bay South Real Estate: Listings = 58   Sales = 25  Sales/Listings Ratio = 43%

Average Sale Price (12 month average): $236,965

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New home for sale in Cowan Heights – 15 Harrington Drive

June 17, 2010 · Filed Under New MLS Listings, St. John's Investments, St. John's MLS listings and St. John's Real Estate · Comment 

Fraser and Stephen Winters have just listed a very well cared for 2-apt home in Cowan Heights with a favorable open concept layout.  15 Harrington Drive has hardwood and ceramic floors throughout the main unit. Country style kitchen with oak cabinets, center island and separate dining room. The family room is very bright and spacious. The main unit has a large rec-room complete with hardwood flooring as well as a laundry/storage room and half bathroom. The oversized bedroom in the basement apartment will be easy to rent. Once again you will find the apartment to be open concept and bright like the main floor unit. Basement apartment has its own laundry. The back yard includes a two tier pressure treated patio, is fully fenced and nicely landscaped. There is a detached 12×20 wired garage.  Time to get into this booming St. John’s Real Estate market.  This home will make a great investment property. Asking price is $299,900.  MLS 155475

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For Sale: Cabin on pond near St. John’s – 37 Juniper Lake

June 7, 2010 · Filed Under New MLS Listings and St. John's Real Estate · Comment 

Fraser and Stephen Winters have just listed this great cabin only 45mins from the East End of St. John’s.   This 3 bedroom cabin is nestled right on a pond providing plenty of privacy. Interior includes pine decor, rustic wood flooring, full bathroom with running water. Wood stove in the family room.  The large patio deck in the front overlooks the pond.  This cabin has had one owner and shows pride of ownership. Furniture and appliances included. Electric heat.  Enjoy privacy and peacefulness right on the pond.  Beautifully landscaped 0.80 acre lot.  37 Juniper Lake – located just off Roach’s Line.  Asking price is $149,900.  MLS: 154988

For a virtual tour of this beautiful cabin click here.

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St. John’s Real Estate Market Posts Strong First Quarter in 2010

May 17, 2010 · Filed Under CMHC Reports, Market Trends and St. John's Real Estate · Comment 

Historically low mortgage rates, combined with strong economic and demographic trends, buoyed local demand for housing in the first quarter of this year.  January to March housing starts posted record results, while existing home sales and prices both continued to advance.

Overall, the St. John’s real estate market was supported by growth in  employment,  income and population, healthy consumer spending and on-going economic momentum spurred by the local oil sector.

Residential construction activity posted record results during the January to March period, due in part to an unseasonably mild winter.  New home prices also advanced in line with  the general market trend.  First quarter housing starts activity increased 15 per cent, with 246 starts versus 214 in 2009’s first quarter.  Single-detached starts increased by 23 units  or 20 per cent, with 199 starts recorded versus 166 during the first three months of last year.

The multiple starts segment was flat, with 47 starts during the quarter compared to 48 a year ago.  The only sub-market which reported increased construction activity was the St. John’s City submarket during the January to March period (104 starts compared to 88 a year ago), with Mount Pearl posting 15 starts versus 17 during 2009’s first quarter and Paradise recording 62 versus 65 a year ago.  Conception Bay South (CBS) recorded 22 starts in the first quarter, consistent with 2009’s first quarter while starts in Torbay remained flat after this first quarter with 14. In the remainder of the CMA, starts increased from eight in the first three months of 2009 to 29 this year.

Price growth continued, with the average new house price increasing in all submarkets. In fact, the average price of a new home surpassed the $325,000 mark in St. John’s City and the $350,000 mark in Torbay. Average sales price ($354,333) and average sales growth (26.4 per cent) were highest in the Torbay submarket of the St. John’s CMA. The average new single-detached house price for the overall St. John’s CMA increased nearly 20 per cent to a record $311,638 compared to $259,990 during the first quarter of 2009. CBS  posted the lowest average new house price of $248,328 during the quarter. Paradise had the second highest rate of new house price growth in the first quarter at 25.1 per cent to  $333,388.

Throughout the St. John’s area, approximately 47 per cent of all new construction activity fell within the $300,000 plus range during the quarter.  The largest growth in market share occurred in the $400,000+ segment.  Overall, new home price growth remained brisk throughout the quarter.

SOURCE: CMHC Housing Now St. John’s CMA

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