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St. John's Newfoundland is one of North America’s oldest cities. Spectacular coastlines, panoramic views, outdoor adventure, rich history and culture await all who live here.
Stephen & Fraser Winters your RE/MAX real estate agents for St. John's. Whether buying, selling or relocating to Newfoundland put the successful Father and Son Realtors to work for you. Fraser and Stephen will show you the smart approach to buying and selling St. John's Real Estate.
Looking to buy a home in St. John’s? Relocating from another city to St. John's? Fraser and Stephen Winters are here to help you! Whether you are buying or selling, take advantage of our free St. John's real estate market reports and access to the St. John's area MLS.
Since Chevron signed the multibillion-dollar memorandum of understanding to develop the Hebron offshore oilfield project back in August 2007, St. John's real estate and surrounding areas have gained favorable optimism and increases in residential homes. Looking to sell you home for TOP DOLLAR? Contact Fraser and Stephen Winters for your free, confidential Home Market Evaluation
This real estate blog is written by Fraser & Stephen Winters. We both are full time successful top producing RE/MAX Realtors in St. John's, Newfoundland. The information contained on this website is from sources believed to be reliable. However, it may be incorrect. This information should not be relied upon without personal verification. We assume no responsibility for its accuracy. This information is not intended to solicit clients already under contract. For more information about us visit our website.
Looking for neighborhoods or school information for a particular street in St. John's or Mount Pearl? We can help you find the right neighborhood by browsing information on schools and property values and much more.
mls.ca updating to REALTOR.ca
On May 28th, 2008, MLS.ca will be introducing some new features to the web site on behalf of REALTORS® across Canada. The result will be an even better real estate resource, with more information about the properties displayed on the site.
The first change will be the introduction of interactive mapping. You’ll be able to use Microsoft Virtual Earth software on the site to determine your search area, and to determine where a property is located. Interactive mapping will make it much more convenient to search traditional neighbourhoods or a specific region.
The web site will also have a new streamlined text search. You’ll be able to input your initial search criteria without all of the details of an Advance Search. The site will still offer the detailed or Advance Search option, but also has a streamlined text version to make looking for properties even more convenient.
There will be a new look, or design. The traditional REALTOR® map is still a key part of the web site, but the new layout will make it easier to look for properties and information.
And there will be a new address - www.realtor.ca Don’t worry, you don’t have to memorize it. You’ll automatically be redirected to the new address even if you input our old one.
MLS housing market more balanced in January
MLS® residential new listings in Canada’s major markets surged to a new record in January 2008, according to statistics released by The Canadian Real Estate Association (CREA). This made the MLS® resale housing market more balanced in January 2008 than at any other point in the past seven years.Seasonally adjusted MLS® sales activity edged 0.4 per cent lower from the previous month to 28,911 units in January. The small monthly decline reflects fewer sales in Toronto, Calgary, London & St. Thomas, Vancouver, St. Catharines, Halifax and Victoria, offset by a monthly rise in real estate activity in Winnipeg, Edmonton, Saskatoon, Regina, Newfoundland and Labrador, and Ottawa.
Seasonally adjusted transactions in January broke all previous monthly records in Regina and Saskatoon, and reached the second highest monthly level ever for Newfoundland and Labrador real estate.
Record level activity in Regina and Saskatoon made them the tightest major markets in January. The market also tightened in Saint John, Newfoundland and Labrador and Windsor compared to December levels, while becoming more balanced in all other major markets. Edmonton, Calgary and Windsor remain the most balanced major markets.
A more balanced market saw smaller price increases in some markets. The major market MLS® residential average price rose 8.6 per cent year-over-year to $325,183 in January 2008. This is the smallest year-over-year price increase since December 2006.
However, the average price reached new heights in a number of major markets in January, including Victoria, Saskatoon, Kitchener-Waterloo, London & St. Thomas, Sudbury, Ottawa and Saint John.
“The January MLS® reports again show how the Canadian housing market is different than the market in the United States,” says CREA President Ann Bosley. “CREA had expected the growth in average price to slow in 2008, which is reflected in many markets. Sales levels are returning to what we would consider, on an historical basis, as more normal activity.”
January Newfoundland Real Estate Stats
Total # of Listings [Jan] = 583 (Down 32% from January 2007)
Total # of Sales [Jan] = 266 (Up 53% from January 2007)
Number of Active Listings in the NLAR MLS System = 1902
Average Sale Price year to date = $170,552
Inventory is down again this month. With lots of buyers and lack of inventory, we are seeing most properties listed in St. John’s receiving multiple offers. CMHC might be classifying our market as balanced in their Newfoundland MLS Trends Report for the 4th Quarter, but we are clearly heading into a sellers market for the early part of 2008.
Here is a break down by area for the month of January for single family homes
St. John’s Real Estate: Listings = 76 Sales = 112 Sales/Listings Ratio = 68%
Average Sale Price: $185,886
Mount Pearl Real Estate: Listings = 18 Sales = 14 Sales/Listings Ratio = 78%
Average Sale Price: $173,200
Paradise Real Estate: Listings = 29 Sales = 15 Sales/Listings Ratio = 52%
Average Sale Price: $207,931
East Extern Real Estate: Listings = 21 Sales = 13 Sales/Listings Ratio = 62%
Average Sale Price: $177,123
Conception Bay Real Estate: Listings = 37 Sales = 15 Sales/Listings Ratio = 41%
Average Sale Price: $159,280
St. John’s MLS Trends for 4th Quarter 2007
MLS® Residential Sales Post Record Fourth Quarter
- MLS® sales surged 43 per cent to a record 1,326 units compared to last year’s fourth quarter sales of 926 units
- October, November and December MLS® sales were 475, 497 and 354, respectively
- Fourth quarter average MLS® residential house price jumped 11.4 per cent to a record $153,196 compared to $137,478 during the
fourth quarter of 2006
Resale Market Returned to Balanced Classification
- The current sales-to-active listings ratio trend and other factors combined, suggest the Market is heading quickly to a sellers classification and already has in some neighbourhoods
- Average time-on-market trended lower during the quarter and price growth was very strong
- A further firm reclassification to sellers will depend on first quarter 2008 results, but likely to occur based on current market trends
Active Listings Decline
- After climbing since 2003 and hitting a record high in July, active listings declined during the fourth quarter for the first time since the second quarter of 2004
- The supply of both new and active residential listings averaged 2,070 during the quarter compared to 2,216 a year ago
- New listings decreased 15 per cent, while active listings retreated 7 per cent compared to the fourth quarter of 2006
Click here for the full St. John’s MLS Trends Q4 2007 including graphs.
More than half a million homes sold via MLS in 2007
National MLS® resale housing activity, new listings, average price and dollar volume all reached their highest annual levels ever in 2007, according to statistics released by The Canadian Real Estate Association (CREA).
Annual sales activity totaled 520,747 units in 2007, up 7.6 per cent from 2006 levels. This was the largest annual sales growth since 2002, and the first time transactions via the MLS® systems of real estate boards in Canada have surpassed 500,000 units sold in one year.
MLS® sales activity set new annual records in Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. Saskatchewan posted the biggest annual increases in activity, up 31.9 per cent from 2006. Activity also rose 26.4 per cent in Newfoundland and Labrador, and climbed 18.6 per cent in Prince Edward Island.
The national MLS® residential average price continues to climb. It set a new annual record in 2007, rising 11.0 per cent. In the fourth quarter, it rose 12.1 per cent year-over-year to $314,591. On a monthly basis, average price rose 14.1 per cent year-over-year to $317,825 in December – a new record, and the largest year-over-year price increase in almost 20 years.
Facebook and Real Estate
Facebook is a social utility that connects people with friends, acquaintances and past school mates. The latest addition to this trendy website, it can now connect you with Facebook Real Estate Listings. Whether you are looking for rentals, leases or to purchase real estate, Facebook is becoming a hot spot for advertising. The best part, most are posted here BEFORE they are seen on MLS.ca
To test it out I recently added a listing for a condo on 117 Queens Road, the number of emails received from posting on Facebook was over whelming.
Along with finding your long lost friend from high school, you can now find that 3 bedroom home in downtown St. John’s to rent or a 2-apartment home in East End St. John’s as an investment.
January Real Estate Newsletter
The outlook for Newfoundland Real Estate for 2008 will be positively supported by a strong provincial economy, with the average MLS® price forecast to increase 6.4% to $157,500. REMAX is suggesting a 12% increase which would put the average price around the $170,000 mark. The expected increase in single detached and two apartment homes can be seen already, and it’s very early in the new year.
Currently we are experiencing low housing inventory and a high number of buyers. Now is the right time to sell your house for maximum value.
I recently read a review of average St. John’s House prices from 2002 - 2008 (forecasted) from CMHC. Good to see the St. John’s real estate market on the rise in recent years.
2002 - $113,081 2003 - $119,822 2004 - $131,499
2005 - $141,167 2006 - $139,542 2007 - $148,000
And forcasted for 2008 - $157,500
Recommended Real Estate Links
- Fraser and Stephen Winters
- Remax St.John's
- Terry Kelly
- St. John's MLS Listings
- Carter Home Designs
- St. John's Newspaper
- VOCM Local News
- CBC Newfoundland
- Eastern School District
- St. John's Weather
- St. John's Board of Trade
Real Estate Sites
- Search MLS.ca
- St. John's Listings
- Globe & Mail Real Estate
- Real Estate Blogs Directory
- Home Builders Association
- Atlantic Home Warranty
- Homeplus Online
Recent Entries
- New Subdivision in Pleasantville
- Vacancy Rate in St. John’s Decreases
- St. John’s Fall Housing Market
- Canada Real Estate News Roundup #2
- October Newfoundland Real Estate MLS Stats
- Are we seeing a slow down in the Newfoundland real estate market?
- St. John’s Housing Starts Increase in September
- New listing in Paradise - 154 Elizabeth Drive
- Canadian Real Estate News Roundup
- Sellers Market in St. John’s Keeps Active Listings Down
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