January Newfoundland Real Estate Stats

February 1, 2008 · Filed Under Monthly MLS Stats and St. John's Real Estate · 2 Comments 

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

Tags: , , , , ,

St. John’s MLS Trends for 4th Quarter 2007

January 31, 2008 · Filed Under Market Trends and St. John's Real Estate · 2 Comments 

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.

Tags: , , , ,

More than half a million homes sold via MLS in 2007

January 29, 2008 · Filed Under Market Trends, Real Estate Articles and St. John's Real Estate · Comment 

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.

Tags: , , ,

Facebook and Real Estate

January 27, 2008 · Filed Under St. John's Real Estate · 1 Comment 

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.

Tags: , , , ,

January Real Estate Newsletter

January 22, 2008 · Filed Under Monthly MLS Stats, Real Estate Newsletter and St. John's Real Estate · Comment 

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

January Newsletter Fraser and Stephen Winters – Remax

Tags: , , , , , , ,

Real Estate and Christmas Holidays

December 4, 2007 · Filed Under Market Trends and St. John's Real Estate · 1 Comment 

People who look for a home during the holidays tend to be more serious about buying. The serious buyers have fewer houses to choose from during the holidays which in turn means less competition and more money for you. When the new year rolls around in January, the amount of listings will increase. With more properties on the market there will be less demand for your particular home.

Houses show better when decorated for the holidays! Buyers tend to be more emotional during the holidays, so they are more likely to pay your price if it’s something they really want.

Often, buyers have more time to look for a home during the holidays than during a regular work week, especially during winter vacations!

Traditionally, January is the month for corporate transferees to begin new jobs. Since these transferees can’t wait until spring to buy real estate, your house should be listed now for them to view on MLS.

You can have your house for sale on the real estate market and still have the option to restrict showings during the holidays for your special family occasions!

Best of all, you can sell now and arrange a delayed closing or extended occupancy til after the new year!

Call Fraser and Stephen Winters and we’ll provide you with a Free Home Market Evaluation.

Tags: , , , , , , , ,

« Previous Page