As the end of 2011 came to a close we saw the “normal” slow down leading up to Christmas.  Typically new listings and offers slow til after the holidays yet the stats for “sales closed” increase. You can see this below as most of the listing to sales ratios for selected areas are well over 100%.
2011 ended up being a good year for real estate in St. John’s.  We saw modest gains and lots of the listing inventory dried up.  Expired listings were well up from previous years.  Average time on the market for a house as 2011 ended was approximately 70 days. It’s still officially a buyers market according to the latest CMHC report, but my thoughts are it will become a nicely balanced market as we approach spring/summer. Let’s hope we actually get a summer this year in St. John’s unlike last year.

As I mentioned last month, there are still a lot of buyers in the market place. RE/MAX’s Canadian Housing Market Estimates for 2012 state that we should see a 5% increase in housing price for St. John’s and surrounding area this year.

Don’t forget to contact us for a free market evaluation on your home.


Total # of MLS Listings [December] = 429 (based on residential stats)
Total # of Sales [December] = 408
Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2942

Here is a break down by area for the month of December

St. John’s Real Estate: Listings = 68   Sales = 108 Sales/Listings Ratio = 159%
Average sale price for a home in St. John’s: $312,372 for the month of December and the 12 month average $292,701

Mount Pearl Real Estate: Listings = 9 Sales = 15  Sales/Listings Ratio = 167%
Average Sale Price (12 month average): $259,857

Paradise Real Estate: Listings =28 Sales = 29 Sales/Listings Ratio =104%
Average Sale Price (12 month average): $326,084

East Extern Real Estate: Listings = 21 Sales = 17  Sales/Listings Ratio = 81%
Average Sale Price (12 month average): $317,160

Conception Bay South Real Estate: Listings = 22   Sales = 24  Sales/Listings Ratio = 109%
Average Sale Price (12 month average): $271,932

Average price of real estate in St. John’s has increased slightly again this month. Average price of a home in St. John’s is hovering around $288,000.  For most of the year listings have been on the increase and sales at a decrease but we are starting to see a shift in the market now.  Listings are slowly decreasing and sales are starting to pick up.  We are up 11% this month compared to 2010 but there is virtually no change on a year to date perspective.  There are lots of buyers in the market place and we are still classified as being in a “buyers market” according to CMHC. Average sales price for a home in Newfoundland is now $248,678 up from the mid 230′s from last year.  The bulk of the sales are in the 260k to 350k price range. Expired listings are up still from last year, by 25%  Contact us for a free market evaluation on your home.

Total # of MLS Listings [October] = 813 (based on residential stats)

Total # of Sales [October] = 514

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3778

Here is a break down by area for the month of October

St. John’s Real Estate: Listings = 162   Sales = 102 Sales/Listings Ratio = 63%

Average sale price for a home in St. John’s: $296,165 for the month of October and the 12 month average $288,291

Mount Pearl Real Estate: Listings = 30 Sales = 25  Sales/Listings Ratio = 83%

Average Sale Price (12 month average): $262,379

Paradise Real Estate: Listings =59 Sales = 40 Sales/Listings Ratio =68%

Average Sale Price (12 month average): $318,443

East Extern Real Estate: Listings = 45 Sales = 26  Sales/Listings Ratio = 58%

Average Sale Price (12 month average): $309,886

Conception Bay South Real Estate: Listings = 48   Sales = 31  Sales/Listings Ratio = 65%

Average Sale Price (12 month average): $270,910

Average sale price of a house for St. John’s and Paradise increased in January, both up over $300,000. I believe this is due to mostly new home construction sales.  The bulk of homes sales (approx 57%) were in the $250,000 to $349,900 price range.  The average price of a home in St. John’s is now approximately $279,000.  There were 308 expired listings this month, up a whopping 52% from last January.  Proper pricing on your home is key in this market and will be the same trend in 2011.  Contact us for a free market evaluation on your home.

Total # of new MLS Listings [January] = 653 (based on residential stats)

Total # of Sales [January] = 207

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2925

Here is a break down by area for the month of January

St. John’s Real Estate: Listings = 168   Sales = 50 Sales/Listings Ratio = 30%

Average sale price for a home in St. John’s: $300,052 for the month of January and the 12 month average $278,753

Mount Pearl Real Estate: Listings = 34 Sales = 10  Sales/Listings Ratio = 29%

Average Sale Price (12 month average): $247,456

Paradise Real Estate: Listings =45 Sales = 17 Sales/Listings Ratio =38%

Average Sale Price (12 month average): $300,298

East Extern Real Estate: Listings = 42 Sales = 12  Sales/Listings Ratio = 29%

Average Sale Price (12 month average): $288,610

Conception Bay South Real Estate: Listings = 46   Sales = 13  Sales/Listings Ratio = 28%

Average Sale Price (12 month average): $255,094

Supply and demand for real estate in St. John’s and surrounding areas are getting fairly well balanced.  Over all for the 2010 year we are up 6% on listings and flat on total sales.  The majority of properties sold this month were evenly split between $150,000 to $249,900 and $250,000 to $349,900.  That being said the number of listings this month is up 32% from last November and the sales are down 21%.  Along with this we had 401 expired listings this month, up 18% from last year.  Again I will say: proper pricing on your home is key in this market and will be the same trend in 2011.

Total # of new MLS Listings [November] = 595 (based on residential stats)

Total # of Sales [November] = 366

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3519

Here is a break down by area for the month of November

St. John’s Real Estate: Listings = 129   Sales = 87 Sales/Listings Ratio = 67%

Average price for a home in St. John’s: $276,910 for the month of November and the 12 month average $276,596

Mount Pearl Real Estate: Listings = 23 Sales = 11  Sales/Listings Ratio = 48%

Average Sale Price (12 month average): $242,577

Paradise Real Estate: Listings =46 Sales = 27 Sales/Listings Ratio =59%

Average Sale Price (12 month average): $294,424

East Extern Real Estate: Listings = 35 Sales = 13  Sales/Listings Ratio = 37%

Average Sale Price (12 month average): $284,647

Conception Bay South Real Estate: Listings = 43   Sales = 22  Sales/Listings Ratio = 51%

Average Sale Price (12 month average): $248,663

As expected the real 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

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

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

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



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

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

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