St. John’s Real Estate Market Improved During Fourth Quarter 2011

February 20, 2012 · Filed Under CMHC Reports 

CMHC released their MLS TRENDS for Eastern Newfoundland Labrador.  Below is the quick outline of the report.

  • There were 1,288 new residential listings during the fourth quarter compared to 1,215 during the  same period in 2010
  • Active listings or inventory averaged 1,656 a month from October to December versus 1,597 a month during Q4 of 2010
  • The sales-to-active listings ratio indicated market conditions were improving when 20% of listings sold in October, 21% in November and 23% in December, and averaged 21.5% during the quarter versus a much lower 18% in the fourth quarter of 2010.
  • Active residential listings or inventory increased 3.7% during the fourth quarter
  • Active listings for October, November and December were 1,861, 1,770 and 1,337, respectively
  • The small rise in inventory, combined with the large sales increase, resulted in market conditions moving towards a more balanced market towards the end of the fourth quarter
  • MLS® sales jumped 26% to 1,058 compared to 2010’s fourth quarter sales of 839
  • October, November and December MLS® sales were 375, 374 and 309, respectively
  • Fourth quarter average MLS® residential house price climbed 7% to $275,488 compared to $257,481 during the fourth quarter of 2010 and averaged $268,608 during 2011.

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