Located on a quiet street in the East End of St. John’s.  Very well looked after 3 + 1 bedroom bungalow with lots of upgrades.  Hardwood floors.  Updated kitchen and bathroom.  Open concept living room/dining room.  Wood burning fireplace.  Fully developed basement with rec room, laundry room, 3 piece bathroom and lots of storage.  For lease: $1250 a month pou. Includes fridge, stove, dishwasher, washer and dryer.  Close to MUN, schools and hospital. Contact Fraser or Stephen Winters for more information.

Virtual tour of 17 Tobin Crescent

As the end of 2011 came to a close we saw the “normal” slow down leading up to Christmas.  Typically new listings and offers slow til after the holidays yet the stats for “sales closed” increase. You can see this below as most of the listing to sales ratios for selected areas are well over 100%.
2011 ended up being a good year for real estate in St. John’s.  We saw modest gains and lots of the listing inventory dried up.  Expired listings were well up from previous years.  Average time on the market for a house as 2011 ended was approximately 70 days. It’s still officially a buyers market according to the latest CMHC report, but my thoughts are it will become a nicely balanced market as we approach spring/summer. Let’s hope we actually get a summer this year in St. John’s unlike last year.

As I mentioned last month, there are still a lot of buyers in the market place. RE/MAX’s Canadian Housing Market Estimates for 2012 state that we should see a 5% increase in housing price for St. John’s and surrounding area this year.

Don’t forget to contact us for a free market evaluation on your home.


Total # of MLS Listings [December] = 429 (based on residential stats)
Total # of Sales [December] = 408
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2942

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

St. John’s Real Estate: Listings = 68   Sales = 108 Sales/Listings Ratio = 159%
Average sale price for a home in St. John’s: $312,372 for the month of December and the 12 month average $292,701

Mount Pearl Real Estate: Listings = 9 Sales = 15  Sales/Listings Ratio = 167%
Average Sale Price (12 month average): $259,857

Paradise Real Estate: Listings =28 Sales = 29 Sales/Listings Ratio =104%
Average Sale Price (12 month average): $326,084

East Extern Real Estate: Listings = 21 Sales = 17  Sales/Listings Ratio = 81%
Average Sale Price (12 month average): $317,160

Conception Bay South Real Estate: Listings = 22   Sales = 24  Sales/Listings Ratio = 109%
Average Sale Price (12 month average): $271,932

The number of home sales in St. John’s increased in November to 477.  This is up 30% from November 2010.  There was a fair amount of activity this month compared to the previous months.   Listings were up only 2% and expired listings dropped back to 10%, but it was the 30% gain in sales for November made a huge difference to our market place.  It’s good to see expired listings  slowly dropping to normal levels.   With lots of buyers in the market place we should see a fairly active beginning to 2012 in St. John’s.

RE/MAX released their Canadian Housing Market Estimates for 2012 and prices for a house in St. John’s and surrounding area is estimated to increase by 5% in 2012.

Don’t forget to contact us for a free market evaluation on your home.

Total # of MLS Listings [November] = 754 (based on residential stats)

Total # of Sales [November] = 477

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3600

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

St. John’s Real Estate: Listings = 144   Sales = 114 Sales/Listings Ratio = 79%

Average sale price for a home in St. John’s: $292,747 for the month of November and the 12 month average $290,428

Mount Pearl Real Estate: Listings = 18 Sales = 23  Sales/Listings Ratio = 128%

Average Sale Price (12 month average): $260,357

Paradise Real Estate: Listings =38 Sales = 45 Sales/Listings Ratio =118%

Average Sale Price (12 month average): 325,088

East Extern Real Estate: Listings = 33 Sales = 20  Sales/Listings Ratio = 61%

Average Sale Price (12 month average): $313,363

Conception Bay South Real Estate: Listings = 37   Sales = 32  Sales/Listings Ratio = 65%

Average Sale Price (12 month average): $273,702

** SOLD** 42 Mcfarlane Street is located in downtown St. John’s with numerous upgrades.  This three bedroom home has 1.5 baths, new vinyl windows, doors and roof covering this past summer. The electrical and the plumbing have been updated in recent years as well.  It’s fully detached with a large private driveway with enough room to hold 2 – 3 vehicles.  Just a quick 3 minute walk to Mile One. This is a great downtown property and awaits its new owner. Asking price is REDUCED $214,900 MLS Number: 171091

** 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.

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.

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.

Check out this quick youtube video from the Toronto Real Estate Board.  It explains the benefits of signing a Buyer Representation Agreement.

While these agreements have been around St. John’s for years, they are becoming more and more common practice amongst Realtors and clients….both benefiting.

I will be hosting an open house on 22 School Road this Sunday (May 15) from 2pm to 4pm.  Drop in and view this lovely home in St. Philip’s

$279,900 is the asking price. MLS: 163669

Average price of a house in St. John’s increased slightly this month. March average sale price was approx $277,000, for April it is $285,000. Average sales price year to date is up as well, almost 6.5% (all of Newfoundland) Interestingly the current real estate market certainly doesn’t reflect this increase.  From looking at the break down in homes sold, it appears that this data is a little “skewed” as a majority of the houses sold were in the 260k to 350k price range, hence bringing up the average prices. Currently, HALF of the homes on the market expire.  Meaning they do not sell.  From my opinion, majority of the houses currently on the market are WAY overpriced.  We are seeing a large number of reductions in prices.  Houses are sitting on the market an average of 60 days before selling.  I don’t think we will see a drop in the average house prices, but we will certainly see a lot of home owners having to reduce their homes to be in line with the market.  It seems that I have the following statement each month……but….. proper pricing on your home is key in this market and will be the same trend in 2011.  Contact us for a free market evaluation on your home.

Total # of new MLS Listings [April] = 814 (based on residential stats)

Total # of Sales [April] = 303

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3700

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

St. John’s Real Estate: Listings = 190   Sales = 81 Sales/Listings Ratio = 42%

Average sale price for a home in St. John’s: $285,097 for the month of April and the 12 month average $281,644

Mount Pearl Real Estate: Listings = 32 Sales = 18  Sales/Listings Ratio = 41%

Average Sale Price (12 month average): $252,736

Paradise Real Estate: Listings =55 Sales = 26 Sales/Listings Ratio =52%

Average Sale Price (12 month average): $310,525

East Extern Real Estate: Listings = 53 Sales = 15  Sales/Listings Ratio = 33%

Average Sale Price (12 month average): $290,202

Conception Bay South Real Estate: Listings = 44   Sales = 15  Sales/Listings Ratio = 40%

Average Sale Price (12 month average): $258,061