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St. John’s Newfoundland Real Estate July MLS Stats
As expected the rea
l estate market for St. John’s and surrounding areas noticed a little slow down in July. Housing inventory appeared to be on the rise as well as the number of price reductions. The number of listings are up 4% this year compared to the same time last year and the number of sales are down 10%. Personally I think this is a little “blimp” in the market and should be no cause for concern. Majority of the houses sold in and around St. John’s were in the $260,000 to $349,900 range. There have been 6 houses that sold this year over the 1 million figure.
Total # of new MLS Listings [July] =1054 (based on residential stats)
Total # of Sales [July] = 522
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3937 (residential only)
Here is a break down by area for the month of July
St. John’s Real Estate: Listings = 199 Sales = 118 Sales/Listings Ratio = 59%
Average Sale Price is St. John’s: $281,912 for the month of July and the 12 month average $256,553
Mount Pearl Real Estate: Listings = 28 Sales = 22 Sales/Listings Ratio = 79%
Average Sale Price (12 month average): $226,224
Paradise Real Estate: Listings =64 Sales = 51 Sales/Listings Ratio =80%
Average Sale Price (12 month average): $278,293
East Extern Real Estate: Listings = 43 Sales = 32 Sales/Listings Ratio = 74%
Average Sale Price (12 month average): $277,410
Conception Bay South Real Estate: Listings = 47 Sales = 36 Sales/Listings Ratio = 77%
Average Sale Price (12 month average): $239,621
St. John’s Newfoundland Real Estate June MLS Stats
The real estate market for St. John’s and surrounding areas saw slight increases in the number of listings on the market in June as well as the number of sales. The number of expired listings are up a whopping 23% since the same month last year. What’s the cause? As I mentioned there are a lot of listings on the market so supply and demand would be a factor for sure. The biggest reason is there are a lot of houses listed on MLS in the St. John’s real estate market that are over priced.
Total # of new MLS Listings [Jun] =1141 (based on residential stats)
Total # of Sales [Jun] = 483
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3777 (residential only)
Here is a break down by area for the month of June
St. John’s Real Estate: Listings = 220 Sales = 121 Sales/Listings Ratio = 55%
Average Sale Price is St. John’s: $264,848 for the month of June and the 12 month average $251,390
Mount Pearl Real Estate: Listings = 30 Sales = 13 Sales/Listings Ratio = 43%
Average Sale Price (12 month average): $224,158
Paradise Real Estate: Listings =70 Sales = 37 Sales/Listings Ratio =53%
Average Sale Price (12 month average): $278,250
East Extern Real Estate: Listings = 52 Sales = 15 Sales/Listings Ratio = 29%
Average Sale Price (12 month average): $271,421
Conception Bay South Real Estate: Listings = 58 Sales = 25 Sales/Listings Ratio = 43%
Average Sale Price (12 month average): $236,965
Newfoundland Real Estate March Stats
The number of listings were up for the month of March by 13% compared to March 2009. Sales as well are up by 25% year to date compared to last year. Interestingly the average house price for St. John’s dropped slightly last month by almost $5000 compared to February’s MLS listing averages. The twelve month overall average for St. John’s is still increasing with a figure of $243,532. There was a fair number of buying/selling activity in between 260k and 350k last month. With the spring market upon us we will start to see increased activity from both buyers and sellers.
Total # of new MLS Listings [Mar] =933 (based on residential stats)
Total # of Sales [Mar] = 336
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3020 (residential only)
Here is a break down by area for the month of March
St. John’s Real Estate: Listings = 181 Sales = 89 Sales/Listings Ratio = 49%
Average Sale Price is St. John’s: $266,336 for the month of March and the 12 month average $243,532
Mount Pearl Real Estate: Listings = 19 Sales = 9 Sales/Listings Ratio = 47%
Average Sale Price (12 month average): $221,094
Paradise Real Estate: Listings =60 Sales = 31 Sales/Listings Ratio =52%
Average Sale Price (12 month average): $271,002
East Extern Real Estate: Listings = 31 Sales = 17 Sales/Listings Ratio = 55%
Average Sale Price (12 month average): $266,462
Conception Bay South Real Estate: Listings = 49 Sales = 22 Sales/Listings Ratio = 45%
Average Sale Price (12 month average): $228,770
Newfoundland Real Estate January
Well the first month of the year has past. Personally I find January the slowest month of the year for real estate, but this year was a little different. Inventory levels of homes for sale in St. John’s and surrounding areas seem to be very low. On the flip side there are lots of buyers. I’ve been involved in a few multiple offer situations so far this year and have heard from other Realtor’s that they too have been involved in multiple offers. As well, I’ve seen a fair number of homes sold within 24 to 48 hours from being listed on MLS. Based on CMHC’s stats from ‘Newfoundland MLS Trends for 4th quarter of 2009‘ we ended 2009 in a sellers market. I feel this trend will continue into the better part of the summer. When the Bank of Canada increases it’s interest rates we’ll probably see a little pull back in sales.
Total # of new MLS Listings [Jan] =615 (based on residential stats)
Total # of Sales [Jan] = 240
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2458 (residential only)
Here is a break down by area for the month of January
St. John’s Real Estate: Listings = 155 Sales = 89 Sales/Listings Ratio = 57%
Average Sale Price is St. John’s: $271,674 for the month of October and the 12 month average $237,988
Mount Pearl Real Estate: Listings = 21 Sales = 3 Sales/Listings Ratio = 14%
Average Sale Price (12 month average): $218,729
Paradise Real Estate: Listings =28 Sales = 21 Sales/Listings Ratio =75%
Average Sale Price (12 month average): $269,242
East Extern Real Estate: Listings = 40 Sales = 15 Sales/Listings Ratio = 38%
Average Sale Price (12 month average): $259,029
Conception Bay South Real Estate: Listings = 34 Sales = 18 Sales/Listings Ratio = 53
Average Sale Price (12 month average): $223,082
Newfoundland Real Estate Stats for September
September appeared to be a fairly balanced month for the St. John’s Real Estate market. New MLS listings edged ever so slightly down, as did the number of sales compared to August’s Newfoundland Real Estate Stats. Both the Canadian Real Estate Association and RE/MAX released reports last month indicating strong housing sales and positive real estate markets throughout Canada. Here in St. John’s our 12 month average price for a home is $228,325 (single family home). Huge increases if you compare past Newfoundland average housing prices of $170,482 for 2008 and $147,201 for 2007.
Total # of new MLS Listings [Sept] =462 (based on residential stats)
Total # of Sales [Sept] = 331
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2093 (residential only)
Here is a break down by area for the month of September
St. John’s Real Estate: Listings = 188 Sales = 135 Sales/Listings Ratio = 72%
Average Sale Price is St. John’s: $237,259 for the month of September
Mount Pearl Real Estate: Listings = 32 Sales = 20 Sales/Listings Ratio = 63%
Average Sale Price: $219,715
Paradise Real Estate: Listings =41 Sales = 38 Sales/Listings Ratio =93%
Average Sale Price: $281,817
East Extern Real Estate: Listings = 38 Sales = 27 Sales/Listings Ratio = 71%
Average Sale Price: $256,696
Conception Bay South Real Estate: Listings = 40 Sales = 26 Sales/Listings Ratio = 65%
Average Sale Price: $229,135
Newfoundland Real Estate Stats for August
We are about to enter into the fall St. John’s real estate market and things are still looking positive for the remainder of the year. Average MLS housing prices for Newfoundland have been steadily increasing throughout the year. Thanks to continuing low mortgage rates first time buyers and those looking to up size to bigger homes can still do so despite the large increase in Newfoundland housing prices since last year. Two apartment (2-apt) homes are still in high demand and if priced right usually sell fairly quickly and for top dollar.
The average price for a home in St. John’s edged slightly higher again for another month, currently at $223,810 for a 12 month period) compared to the Newfoundland Average Sale Price of $201,799. This is up from $170,941 from last years prices.
Total # of MLS Listings [Aug] =494 (based on single family homes)
Total # of Sales [Aug] = 336
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2261 (residential only)
Here is a break down by area for the month of August
St. John’s Real Estate: Listings = 187 Sales = 147 Sales/Listings Ratio = 79%
Average Sale Price is St. John’s: $244,195 for the month of August
Mount Pearl Real Estate: Listings = 25 Sales = 26 Sales/Listings Ratio = 104%
Average Sale Price: $200,862
Paradise Real Estate: Listings =65 Sales = 33 Sales/Listings Ratio =51%
Average Sale Price: $261,353
East Extern Real Estate: Listings = 36 Sales = 23 Sales/Listings Ratio = 64%
Average Sale Price: $250,678
Conception Bay South Real Estate: Listings = 37 Sales = 40 Sales/Listings Ratio = 108%
Average Sale Price: $228,363
Newfoundland Real Estate Stats for May
The spring real estate market is upon us as noted by the increase in Active MLS Listings last month. Average home prices in all areas have increased since the April St. John’s Real Estate Market Stats. Increased housing prices means added pressure to first time buyers. This spins off into lower vacancy rates – great for those who own investment 2-apt homes or considering buying an investment property. Houses are still staying on the market longer – pricing your home correctly is crucial in the market. I would still call it a buyers market, but again, there are still some houses receiving multiple offers.
The average price for a home in St. John’s edged slightly higher again for another month (currently at $210,969 for a 12 month period).
Mortgage rates are still at all time lows. The Bank of Canada’s Prime lending rate is at 2.25% and supposed to hold steady here til 2010. Great for varible rate mortgages but it might be the time to look into a fixed term as the rates can only go up from here.
Total # of MLS Listings [May] = 1108
Total # of Sales [May] = 347
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3491
Here is a break down by area for the month of May
St. John’s Real Estate: Listings = 210 Sales = 103 Sales/Listings Ratio = 49%
Average Sale Price: $221,707 for the month of May
Mount Pearl Real Estate: Listings = 46 Sales = 15 Sales/Listings Ratio = 33%
Average Sale Price: $201,126
Paradise Real Estate: Listings =46 Sales = 21 Sales/Listings Ratio =46%
Average Sale Price: $240,342
East Extern Real Estate: Listings = 36 Sales = 27 Sales/Listings Ratio = 75%
Average Sale Price: $236,090
Conception Bay South Real Estate: Listings = 50 Sales = 20 Sales/Listings Ratio = 40%
Average Sale Price: $205,934
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
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- RE/MAX St. John’s & Area Market Share for January to June 2010
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- CMHC St. John’s Area June Housing Starts
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