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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
Newfoundland Real Estate Stats for April
Active MLS Listings have increased this month compared to March NLAR stats, while home sales have remained fairly constant. The biggest increase in stats was Expired Listings. Up a whopping 39% since last year. What does this mean to the St. John’s Real Estate Market? Houses are staying on the market longer. Potential for price reductions. It appears to be slipping into a buyers market now. However, there are still houses selling the same day and some still seeing multiple offers.
The average price for a home in St. John’s edged slightly higher again for another month (currently at $206,938 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 [Apr] = 975
Total # of Sales [Apr] = 288
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2953
Here is a break down by area for the month of April
St. John’s Real Estate: Listings = 181 Sales = 66 Sales/Listings Ratio = 36%
Average Sale Price: $214,590 for the month of April
Mount Pearl Real Estate: Listings = 24 Sales = 10 Sales/Listings Ratio = 42%
Average Sale Price: $198,655
Paradise Real Estate: Listings =65 Sales = 22 Sales/Listings Ratio =34%
Average Sale Price: $239,039
East Extern Real Estate: Listings = 45 Sales = 18 Sales/Listings Ratio = 40%
Average Sale Price: $231,872
Conception Bay South Real Estate: Listings = 56 Sales = 15 Sales/Listings Ratio = 27%
Average Sale Price: $202,399
Newfoundland Real Estate Stats for January
After coming to a dramatic slowdown in December from a banner 25% price increase year, 2009 is back in full swing. Although sales are down (25% compared to last January), much needed listings are up (5%). Officially we are into a balanced market now. Increased inventory, record low mortgage rates and what appears to be still a lot of buyers, the real estate market in St. John’s should hold its own compared to the rest of Canada.
This month, Newfoundland’s Real Estate MLS housing price break down is showing a 25% decrease in sales while there are currently 680 listings, an increase of 5% from last year. Majority of the sales showing were in the $200,000 to $350,000 price bracket.
Total # of New MLS Listings [Jan] = 680
Total # of Sales [Jan] = 200
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2289
The average price of a home in the St. John’s Real Estate market is now $198,757 2008. Compared to the provincial average of $184,055 YTD for 2009. Note this is for ALL Newfoundland (nlar.ca)
Here is a break down by area for the month of January
St. John’s Real Estate: Listings = 117 Sales = 48 Sales/Listings Ratio = 41%
Average Sale Price: $219,146 for the month of January
Mount Pearl Real Estate: Listings = 11 Sales = 6 Sales/Listings Ratio = 55%
Average Sale Price: $208,667
Paradise Real Estate: Listings =52 Sales = 14 Sales/Listings Ratio =27%
Average Sale Price: $264,325
East Extern Real Estate: Listings = 32 Sales = 16 Sales/Listings Ratio = 50%
Average Sale Price: $229,048
Conception Bay Real Estate: Listings = 41 Sales = 17 Sales/Listings Ratio = 41%
Average Sale Price: $192,321
September Newfoundland Real Estate Stats
The monthly Newfoundland Real Estate MLS housing price break down is showing an increase of 6% in listings this month and an increase of 27% in home purchases. Year to date, listings are up 1% and sales up 13% compared to this time last year. Properties sold in St. John’s in the $180,000 to $350, 000 range have doubled in number of units sold.
Total # of New MLS Listings [Sept] = 834
Total # of Sales [Sept] = 606
Number of Active Listings in the NLAR MLS System = 2587
The average price of a home in the St. John’s Real Estate market is now $183,929 year to date for 2008. Compared to $165,813 9YTD) 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.
Here is a break down by area for the month of September for single family homes
St. John’s Real Estate: Listings = 178 Sales = 122 Sales/Listings Ratio = 67%
Average Sale Price: $192,575
Mount Pearl Real Estate: Listings = 21 Sales = 24 Sales/Listings Ratio = 114%
Average Sale Price: $177,445
Paradise Real Estate: Listings =52 Sales = 32 Sales/Listings Ratio = 61%
Average Sale Price: $210,327
East Extern Real Estate: Listings = 43 Sales = 25 Sales/Listings Ratio = 54%
Average Sale Price: $219,413
Conception Bay Real Estate: Listings = 41 Sales = 41 Sales/Listings Ratio = 100%
Average Sale Price: $197,360
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
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