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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. Buying, selling or relocating to St. John's Newfoundland? Put the successful Father and Son Realtor team to work for you. Fraser and Stephen will show you the smart approach to buying and selling St. John's Real Estate.
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STEPHEN 709.682.9045
FRASER 709.682.9245
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.
Mount Pearl Home for sale – 26 Michener Ave
New listing in Mount Pearl. This fantastic home with essentially nothing to do but move in! A great little property with vinyl windows, vinyl siding, some new laminate flooring and a new recroom in basement. Main floor family room is bright and cozy. 3 bedrooms on second floor. Main bathroom has lots of upgrades. Front and rear deck as well as a fenced rear yard. Asking price is $144,900. MLS # 144825 Call Stephen or Fraser Winters for more information. 709.682.9045 or 709.682.9245
December St. John’s Newfoundland MLS stats
December is typically a slower month for real estate and the stats for this month show it. Christmas, and the preparation for Christmas takes up most of the month. For the most part, the buying and selling of homes is left to those that have no choice but to keep the house hunting active.
This month, Newfoundland’s Real Estate MLS housing price break down is showing a whopping 18% decrease in sales while listings this month show an increase of 16%. Year to date, listings are up slightly by 3% and sales up 7% compared to this time last year.
Total # of New MLS Listings [Dec] = 357
Total # of Sales [Dec] = 312
Number of Active Listings in the NLAR MLS System = 2065
The average price of a home in the St. John’s Real Estate market is now $195,970 2008. Compared to $173,844 YTD for 2007. Note this is for ALL Newfoundland (nlar.ca)
Here is a break down by area for the month of December
St. John’s Real Estate: Listings = 73 Sales = 5 Sales/Listings Ratio = 7%
Average Sale Price: $202,896
Mount Pearl Real Estate: Listings = 11 Sales = 0% Sales/Listings Ratio = 0%
Average Sale Price: no sales for this month so $190,662 is YTD
Paradise Real Estate: Listings =29 Sales = 2 Sales/Listings Ratio =7%
Average Sale Price: $273,850
East Extern Real Estate: Listings = 14 Sales = 3 Sales/Listings Ratio = 21%
Average Sale Price: $225,674
Conception Bay Real Estate: Listings = 15 Sales = 1 Sales/Listings Ratio = 7%
Average Sale Price: $201,814
The yard to date sales/listings ratio is 54%
Vacancy Rate for St. John’s, Mount Pearl and surrounding areas
The vacancy rate within the St. John’s, Mount Pearl areas was lower in 2008 and average rents increased across the board. This marks the second consecutive decline in the vacancy rate and largely reflects the impact of brisk economic activity and strong employment levels. Growth in residential construction activity, combined with record MLS® sales and a tight supply of existing homes for sale, translated into substantial price growth, making the transition from renting to home ownership challenging for renter households.
The vacancy rate for St. John’s and area was a low vacancy rate of 0.8 per cent. This represents a decrease
of 1.8 percentage points from the 2.6 per cent vacancy rate recorded in 2007 and marks the second time since 2003 in which the vacancy rate decreased. At 0.8 per cent, the vacancy rate reached its lowest level since 1980.
Monthly rental rates increased slightly for St. John’s by 3.8%. The average two bedroom rent currently stands are $630 monthly.
October Newfoundland Real Estate MLS Stats
The monthly Newfoundland Real Estate MLS housing price break down is showing a 1% decrease in listings this month and an increase of 21% in home purchases. Year to date, listings are up slightly by 1% and sales up 14% compared to this time last year. Interestingly, the total dollar value in sales was up 47% for the month of October.
Total # of New MLS Listings [Oct] = 764
Total # of Sales [Oct] = 636
Number of Active Listings in the NLAR MLS System = 2595
The average price of a home in the St. John’s Real Estate market is now $187,636 year to date for 2008. Compared to $167,847 YTD for 2007. Remember this is for ALL Newfoundland (nlar.ca)
Here is a break down by area for the month of October
St. John’s Real Estate: Listings = 186 Sales = 136 Sales/Listings Ratio = 73%
Average Sale Price: $202,896
Mount Pearl Real Estate: Listings = 15 Sales = 17 Sales/Listings Ratio = 113%
Average Sale Price: $186,612
Paradise Real Estate: Listings =31 Sales = 36 Sales/Listings Ratio =116%
Average Sale Price: $234,681
East Extern Real Estate: Listings = 28 Sales = 32 Sales/Listings Ratio = 114%
Average Sale Price: $219,193
Conception Bay Real Estate: Listings = 47 Sales = 40 Sales/Listings Ratio = 85%
Average Sale Price: $231,552
Newfoundland MLS residential house prices surge
Third quarter average Newfoundland MLS residential house price surged 19% to $182,306 compared to $153,053 during the third quarter of 2007, with additional price growth expected throughout the remainder of this year and next. Average price is closer to $200,000 in St. John’s, Mount Pearl and Paradise.
MLS® sales advanced 11% to 1,695 units compared to last year’s third quarter sales of 1,529 units. The monthly break down for the third quarter: July, August and September MLS® sales were 610, 541 and 544, respectively.
August MLS Newfoundland Stats
Newfoundland MLS listings for August were down from the same time in 2007. Approximately a 16% decrease, however there was a 4% increase in properties sold for August 2008 vs August 2007 and a 10% increase in sales for 2008 year to date. This decrease in listing inventory and increase in properties sold is putting added pressure on selling prices. The supply and demand curve is still showing a sellers market.
One point to note: I’ve notice a big decrease in the properties sold in the $100,000 to $200,000 range and a large increase in properties sold over the $200,000 mark. Particularly the $260,000 to $349,900 range.
Total # of New MLS Listings [Aug] = 758
Total # of Sales [Aug] = 595
Number of Active Listings in the NLAR MLS System = 2675
Our Real Estate system is not showing the stats for my normal monthly Newfoundland MLS housing price break down by real estate area.
What I can report is for all of Newfoundland, the average sales price is $170,482 year to date for 2008. Compared to $147,201 for 2007. Remember this is for ALL Newfoundland (nlar.ca) Prices are closer to the $200,000 average in St. John’s, Mount Pearl and surrounding areas.
St. John’s Investment properties have increased – when will the rents?
For the last few years 2-apartment homes have been increasing in demand and in price, particularly in the past 6 months. The majority of investment properties in the St. John’s, Mount Pearl, Paradise real estate market have been selling in days, with multiple offers and selling well over the asking price. This time last year your standard 2-apt home was around $180,000 to $199,000. Currently they are $220,000 to $240,000 (East End St. John’s) and can be built new for approx $260,000.
The bases behind people purchasing a 2-apt is obviously as an investment, to have the rental income greater then the expenses and create a positive cash flow. Last years price of $180,000 your monthly mortgage would be approx $1050 (assuming a 5% mortgage rate). In today’s market, your $240,000 investment mortgage payment is approx $1400. (again assumed 5% interest rate). That’s a $350 dip into your cash flow.
When will the rents increase locally? I haven’t seen them increase in quite some time. Average rentals are approximately $900 for a main floor 3 bedroom unit and about $600 for a basement apartment. At those rentals, you are left with a $100 positive cash flow and you haven’t included property taxes and other investment property expenses.
Another factor is the average price in St. John’s and surrounding areas have increased for a single dwelling. June MLS stats show the average price for a single dwelling home in St. John’s is approx $190,000, considerable higher then the average price from 2007. First time buyers are being pushed out of the real estate market and are being forced to rent, creating an even further demand for investment properties. St. John’s vacancy rate was 2.6 per cent in December 2007 compared to 5.1 per cent in 2006. (Forecast for 2008 is slightly lower vacancy rate according to CMHC). This marks the first decline in the vacancy rate since 2003 and largely reflects the impact of a decrease in the home ownership rate among first-time buyers and increased economic activity.
It’s only a matter of time….but the rents have to increase.
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
- Canadian real estate
- Home Builders Association
- Atlantic Home Warranty
- Homeplus Online
Recent Entries
- CMHC Reports St. John’s Area February Housing Starts
- Investment property near CONA, MUN and Marine Institute – 156 Higgins Line
- New Listing near Memorial University and Avalon Mall – 12 Keane Place
- Newfoundland Real Estate MLS Stats February
- Low inventory levels set stage for heated Spring market says RE/MAX
- Protect, Maintain and Enhance the value of your home with HouseLogic
- Kirkland Balsom St. John’s Real Estate Market Overview 2010
- Changes made to Canadian Mortgages
- Interesting Real Estate links throughout Canada
- New home for sale in St. John’s East End 28 Cambridge Ave
Mortgage Rates
