St. John’s Newfoundland MLS Stats for April

May 11, 2011 · Filed Under Monthly MLS Stats, St. John's Real Estate 

Average price of a house in St. John’s increased slightly this month. March average sale price was approx $277,000, for April it is $285,000. Average sales price year to date is up as well, almost 6.5% (all of Newfoundland) Interestingly the current real estate market certainly doesn’t reflect this increase.  From looking at the break down in homes sold, it appears that this data is a little “skewed” as a majority of the houses sold were in the 260k to 350k price range, hence bringing up the average prices. Currently, HALF of the homes on the market expire.  Meaning they do not sell.  From my opinion, majority of the houses currently on the market are WAY overpriced.  We are seeing a large number of reductions in prices.  Houses are sitting on the market an average of 60 days before selling.  I don’t think we will see a drop in the average house prices, but we will certainly see a lot of home owners having to reduce their homes to be in line with the market.  It seems that I have the following statement each month……but….. proper pricing on your home is key in this market and will be the same trend in 2011.  Contact us for a free market evaluation on your home.

Total # of new MLS Listings [April] = 814 (based on residential stats)

Total # of Sales [April] = 303

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3700

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

St. John’s Real Estate: Listings = 190   Sales = 81 Sales/Listings Ratio = 42%

Average sale price for a home in St. John’s: $285,097 for the month of April and the 12 month average $281,644

Mount Pearl Real Estate: Listings = 32 Sales = 18  Sales/Listings Ratio = 41%

Average Sale Price (12 month average): $252,736

Paradise Real Estate: Listings =55 Sales = 26 Sales/Listings Ratio =52%

Average Sale Price (12 month average): $310,525

East Extern Real Estate: Listings = 53 Sales = 15  Sales/Listings Ratio = 33%

Average Sale Price (12 month average): $290,202

Conception Bay South Real Estate: Listings = 44   Sales = 15  Sales/Listings Ratio = 40%

Average Sale Price (12 month average): $258,061


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