St. John's Real Estate Blog

17 Tobin Crescent: For lease in St. John’s east end

Stephen Winters — Mon, 09 Jan 2012 14:57:40 +0000

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

St. John’s Newfoundland MLS Stats for December 2011

Stephen Winters — Sat, 07 Jan 2012 13:11:57 +0000

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

St. John’s RE/MAX Market share for 2011

Stephen Winters — Fri, 06 Jan 2012 14:21:56 +0000

Vacancy Rate Remains Low in St. John’s Area

Stephen Winters — Thu, 15 Dec 2011 14:43:19 +0000

From the CMHC press release regarding vacancy rates in St. John’s.

According to Canada Mortgage and Housing Corporation’s (CMHC) Fall Rental Market Survey, the vacancy rate in the St. John’s Census metropolitan area (CMA) was 1.3 per cent, compared to 1.1 per cent in 2010.
“With record employment and income growth attracting people to the region, population growth continued to create rental demand as new immigrants have a high tendency to rent,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “An increase in home prices and a solid economy also supported demand for rental units in 2011. These factors, coupled with limited new rental supply, continued to keep the local vacancy rate low,” added Janes.
Provincially, vacancy rates in percentage terms were 1.3 in the Corner Brook area, 1.2 per cent in Gander and 0.9 per cent in the Grand Falls-Windsor area. The combined provincial vacancy rate for all centres surveyed increased from 1.0 per cent to 1.3 per cent.
Overall, the average two bedroom rent was $701 across the five urban centres surveyed, with increases recorded in every centre. The highest average two bedroom rent recorded was $771 in the St. John’s CMA, while Bay Roberts posted the lowest average rent of $561. The remaining average two bedroom rents were $584 in Corner Brook; $567 in Gander and $646 in Grand Falls-Windsor.

St. John’s Newfoundland MLS Stats for November 2011

Stephen Winters — Wed, 07 Dec 2011 14:11:47 +0000

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

St. John’s Newfoundland MLS Stats for October

Stephen Winters — Thu, 03 Nov 2011 14:55:45 +0000

Average price of real estate in St. John’s has increased slightly again this month. Average price of a home in St. John’s is hovering around $288,000. For most of the year listings have been on the increase and sales at a decrease but we are starting to see a shift in the market now. Listings are slowly decreasing and sales are starting to pick up. We are up 11% this month compared to 2010 but there is virtually no change on a year to date perspective. There are lots of buyers in the market place and we are still classified as being in a “buyers market” according to CMHC. Average sales price for a home in Newfoundland is now $248,678 up from the mid 230′s from last year. The bulk of the sales are in the 260k to 350k price range. Expired listings are up still from last year, by 25% Contact us for a free market evaluation on your home.

Total # of MLS Listings [October] = 813 (based on residential stats)

Total # of Sales [October] = 514

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3778

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

St. John’s Real Estate: Listings = 162 Sales = 102 Sales/Listings Ratio = 63%

Average sale price for a home in St. John’s: $296,165 for the month of October and the 12 month average $288,291

Mount Pearl Real Estate: Listings = 30 Sales = 25 Sales/Listings Ratio = 83%

Average Sale Price (12 month average): $262,379

Paradise Real Estate: Listings =59 Sales = 40 Sales/Listings Ratio =68%

Average Sale Price (12 month average): $318,443

East Extern Real Estate: Listings = 45 Sales = 26 Sales/Listings Ratio = 58%

Average Sale Price (12 month average): $309,886

Conception Bay South Real Estate: Listings = 48 Sales = 31 Sales/Listings Ratio = 65%

Average Sale Price (12 month average): $270,910

29 Gorman Ave – Two Apartment Home in Kilbride

Stephen Winters — Tue, 01 Nov 2011 14:25:47 +0000

***REDUCED*** 29 Gorman Ave is located in Kilbride. This 2-apt home has lots of potential. Three bedrooms on the main floor and two in the basement apartment. Vinyl windows. Spacious main floor with open concept living room / dinging room. Fully fenced back yard. Patio deck. and 12 x 16 shed. Great investment property. Asking price is $190,000 MLS: 171512 Call Fraser or Stephen Winters for more information.

42 Mcfarlane Street – Located in downtown St. John’s

Stephen Winters — Tue, 18 Oct 2011 13:02:21 +0000

** 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

MLS Trends for Third Quarter Housing Market in Newfoundland

Stephen Winters — Tue, 18 Oct 2011 12:45:47 +0000

MLS® Residential Sales Up in Third Quarter

MLS® sales increased 12.8% to 1,493 compared to 2010’s third quarter sales of 1,323
July, August and September MLS® sales were 499, 551 and 443, respectively
Third quarter average MLS® residential house price climbed 6.5% to $253,755 compared to $238,285 during the third quarter of 2010

Buyers’ Market Conditions

There were a 2,658 new residential listings during the third quarter compared to 2,356 during the same period last year, an increase of 13%
Active listings or inventory averaged 2,750 a month from July to September versus 2,442 a month during Q3 of 2010
The sales-to-active listings ratio indicated that 18% of listings sold in July, 20% in August and 17% in September, and averaged 18% during the quarter, unchanged from the third quarter of 2010

Active Listings Increase

Active residential listings or inventory increased approximately 13% during the quarter
Active listings for July, August and September were 2,816, 2,807 and 2,628, respectively
With inventory increasing on par with sales, housing market conditions favoured buyers during the whole third quarter

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

Stephen Winters — Thu, 18 Aug 2011 23:15:03 +0000

** 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

CREA Updates Resale Housing Forecast

Stephen Winters — Thu, 18 Aug 2011 15:00:42 +0000

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.