Newfoundland Real Estate Stats for March

April 6, 2009 · Filed Under Monthly MLS Stats and St. John's Real Estate 

It’s been an interesting 1st quarter for the Real Estate in Newfoundland.  The sky has not fallen in the St. John’s real estate market like the media and public were anticipating.   The average price for a home in St. John’s edged slightly higher (currently at $205,040 for a 12 month period).  Listings have increased in number as have the number of sales for the month of March.

Mortgage rates are at all time lows. (4.15% for a 5 year term seems to be the norm at the time of posting).  Variable rates have dropped considerably in the past year.  The variable mortgage rate was close to 6% middle of last year compared to 3.25% now.

This month, Newfoundland’s Real Estate MLS housing price break down is showing a 2% increase in sales while there was 789 new listings, an increase of 17% from last year.  Majority of the sales showing were in the $200,000 to $350,000 price bracket once again.

Total # of MLS Listings [Mar] = 789

Total # of Sales [Mar] = 266

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2658

The average price of a home in the St. John’s Real Estate market is now $205,040  compared to the provincial average of $188,111 YTD for 2009.  Note this is for ALL Newfoundland (nlar.ca)

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

St. John’s Real Estate: Listings = 148  Sales = 83 Sales/Listings Ratio = 56%

Average Sale Price: $219,257 for the month of March

Mount Pearl Real Estate: Listings = 21 Sales = 11  Sales/Listings Ratio = 52%

Average Sale Price: $198,959

Paradise Real Estate: Listings =43 Sales = 24 Sales/Listings Ratio =56%

Average Sale Price: $235,156

East Extern Real Estate: Listings = 32 Sales = 13   Sales/Listings Ratio = 41%

Average Sale Price: $202,407

Conception Bay South Real Estate: Listings = 47   Sales = 19  Sales/Listings Ratio = 40%

Average Sale Price: $184,753

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