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February Newfoundland Real Estate Stats
Total # of Listings [Feb] = 671 (Up 29% from February 2007)
Total # of Sales [Feb] = 272 (Up 27% from February 2007)
Number of Active Listings in the NLAR MLS System = 2146
Inventory increased slightly this month compared to January MLS stats. We are still down in inventory from 2007 by 5%. Sales have increased as well (up 38% from 2007) due to the number of buyers currently searching for a new home or investment property. Larger homes are being built and sold outside St. John’s and Mount Pearl reflecting in higher prices for Paradise, East Extern and CBS this month. It will be interesting to see in the next few months if increased inventory levels from new home construction will relieve some pressure on current buyers. Many sub divisions are waiting to start their next phases in spring. To my knowledge Clovelly Trails has 70 lots and Roncolli Estates 15. Other subdivisions will be in full swing when the snow melts.
Here is a break down by area for the month of February for single family homes
St. John’s Real Estate: Listings = 109 Sales = 71 Sales/Listings Ratio = 65%
Average Sale Price: $171,085
Mount Pearl Real Estate: Listings = 33 Sales = 12 Sales/Listings Ratio = 51%
Average Sale Price: $148,981
Paradise Real Estate: Listings = 30 Sales = 16 Sales/Listings Ratio = 53%
Average Sale Price: $193,586
East Extern Real Estate: Listings = 52 Sales = 14 Sales/Listings Ratio = 27%
Average Sale Price: $190,048
Conception Bay Real Estate: Listings = 24 Sales = 16 Sales/Listings Ratio = 67%
Average Sale Price: $161,769
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