Higher First Quarter St. John’s Real Estate Average MLS Prices

April 17, 2009 · Filed Under CMHC Reports 

CMHC MLS Trends has released their first quarter analysis of the St. John’s Residential Real Estate Market.

The results: Residential Sales Down; Prices Up in First Quarteraverage-real-estate-prices

First quarter average MLS® prices are up 24.6% to $195,517 compared to $156,953 during the first quarter of 2008.   This considerable jump is on par from the average MLS® price of  2008.  Keep in mind that the average price from the 4th quarter 2008 has only inched slightly higher from the 1st quarter 2009 prices.  We are holding our own for Newfoundland housing prices.  Our figures actually represent the only price growth market in Canada quarter over quarter.

Active Newfoundland listings for January, February and March were approximately 1,350, 1,500 and 1,600, respectively, with new  listings of 516, 433 and 570, respectively. MLS® sales fell 12.6% to 623 units compared to 2008’s first quarter sales of 713 units

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