Newfoundland Real Estate Stats for April

May 3, 2009 · Filed Under Market Trends, Monthly MLS Stats, Real Estate Articles and St. John's Real Estate 

Active MLS Listings have increased this month compared to March NLAR stats, while home sales have remained fairly constant.  The biggest increase in stats was Expired Listings.  Up a whopping 39% since last year.  What does this mean to the St. John’s Real Estate Market?  Houses are staying on the market longer.  Potential for price reductions.  It appears to be slipping into a buyers market now.  However, there are still houses selling the same day and some still seeing multiple offers.

The average price for a home in St. John’s edged slightly higher again for another month (currently at $206,938 for a 12 month period).

Mortgage rates are still at all time lows. The Bank of Canada’s Prime lending rate is at 2.25% and supposed to hold steady here til 2010.  Great for varible rate mortgages but it might be the time to look into a fixed term as the rates can only go up from here.

Total # of MLS Listings [Apr] = 975

Total # of Sales [Apr] = 288

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2953

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

St. John’s Real Estate: Listings = 181  Sales = 66 Sales/Listings Ratio = 36%

Average Sale Price: $214,590 for the month of April

Mount Pearl Real Estate: Listings = 24 Sales = 10  Sales/Listings Ratio = 42%

Average Sale Price: $198,655

Paradise Real Estate: Listings =65 Sales = 22 Sales/Listings Ratio =34%

Average Sale Price: $239,039

East Extern Real Estate: Listings = 45 Sales = 18   Sales/Listings Ratio = 40%

Average Sale Price: $231,872

Conception Bay South Real Estate: Listings = 56   Sales = 15  Sales/Listings Ratio = 27%

Average Sale Price: $202,399

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