St. John’s Newfoundland Real Estate July MLS Stats

August 11, 2010 · Filed Under Monthly MLS Stats and St. John's Real Estate · Comment 

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

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St. John’s Newfoundland Real Estate June MLS Stats

July 12, 2010 · Filed Under Monthly MLS Stats and St. John's Real Estate · Comment 

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

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Average price for a home in St. John’s Newfoundland

May 18, 2010 · Filed Under CMHC Reports · Comment 

According to CMHC in their latest press release, the First Quarter of 2010 provided record sales of existing homes and  increased inventory throughout the St. John’s real estate market.  The average MLS® residential price for St. John’s continued to rise, reaching another record level peaking at $251,485 in March. The number of MLS® sales increased 25 per cent with 665 sales compared to 2009’s first quarter sales of 532 units.

The average MLS® residential price in the CMA was 19 per cent higher than it was a year ago, maintaining an aggressive two year growth trend of 48 per cent to the end of the first quarter. With increased buying activity during the January to March period, the average MLS® residential price was $245,069 compared to $205,324 during the first quarter of 2009 and a much lower $164,147 in 2008. The relative strength in the average MLS® residential price continued to be supported by positive economic and demographic fundamentals, as well as increased numbers of higher priced newly built home sales going through the MLS® system in the first quarter.

At the provincial level, there were 783 MLS® sales compared to 623 in the first quarter of last year. The average MLS® residential price in Newfoundland was $230,268 during the January to March period – an increase of 18 per cent.

Positive economic activity and in-migration to the St. John’s region, combined with an active resale market, positioned the market as balanced during the first three months of the  year.  In terms of unit sales, the first quarter represented a record level of buying activity.  Available inventory increased approximately five per cent and listings remained on the market for an average of 61 days in the January to March period, while prices continued to climb.

For the St. John’s area, there was a 25 per cent increase in new listings compared to the same period last year. However, active listings averaged only a moderately higher level at 1,096 during the quarter versus 1,039 during the first quarter of 2009.  Having peaked at a record 40 per cent in December 2009, during a brief sellers’ market, the unadjusted sales-to-active listings ratio averaged a considerably lower 20 per cent during the first quarter.  This compared favorably to 17 per cent during the same period in 2009 and signaled balanced first quarter resale market conditions.

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Newfoundland Real Estate March Stats

April 19, 2010 · Filed Under Monthly MLS Stats · Comment 

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

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St. John’s Property Assessment and Property Tax Information

April 6, 2010 · Filed Under First Time Buyers, St. John's Investments, St. John's Real Estate and St. John's Relocation · Comment 

The St. John’s Property assessment is the estimated value of a property (land and building) utilized for municipal taxation purposes.  The “Assessment Act 2006” is the Legislative authority governing assessment and taxation in the City. The assessment value can at times be similar to fair market value, however with the fast changing St. John’s Real Estate market the two values can be greatly different in figures.

From the City of St. John’s website  “the City’s assessments are calculated on the basis of a property’s market value as of a specific point in time, referred to as the “base date”. The presently applicable “base date” on which your assessment is calculated is January 1st, 2008. In other words, the market value of your property on that date is presently utilized to calculate your municipal taxes for 2010.”

To find out the assessment value of a home in St. John’s visit the Property Assessment Search

Annual residential property taxes for St. John’s are calculated at a rate of 10.1 mils, or 1.01 % of a property’s total assessment (for the year 2010).  A property with a total assessed value of $100,000. would be charged an annual property tax of $1010.00, calculated as follows:

Assessed Value of St. John’s Home = $100,000.
Multiplied by the Mil Rate = .0101 (10.1 Mils)
Annual Property Tax for 2010 = $1010.00

Don’t forget to include your water taxes. Water taxes for St. John’s are a flat rate of $520. (multiplied by 2 if you have a 2-apt home)

So a $100,000 property would have a total property tax of $1530 for the year or $127.50 per month.

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Newfoundland Real Estate January

February 4, 2010 · Filed Under St. John's Real Estate · Comment 

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



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Newfoundland Real Estate Stats for October

November 4, 2009 · Filed Under St. John's Real Estate · 1 Comment 

CMHC released their Third quarter data for Newfoundland MLS Real estate the other day.  As expected, we are officially in a balanced market now within the  St. John’s Real Estate area.  New MLS listings edged down once again, as did the number of sales compared to September’s Newfoundland Real Estate Stats.  New listings were on par with 2008’s third quarter, but with available inventory 27% higher, this gives buyers more time to shop and compare houses.  Total number of houses that expired in October was up 53% since October of last year.  Having your house priced correctly is KEY in this market.

Total # of new MLS Listings [Oct] =397 (based on residential stats)

Total # of Sales [Oct] = 325

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 1829 (residential only)

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

St. John’s Real Estate: Listings = 167   Sales = 132 Sales/Listings Ratio = 79%

Average Sale Price is St. John’s: $217,032 for the month of October

Mount Pearl Real Estate: Listings = 26 Sales = 23  Sales/Listings Ratio = 88%

Average Sale Price: $218,681

Paradise Real Estate: Listings =40 Sales = 41 Sales/Listings Ratio =102%

Average Sale Price: $262,591

East Extern Real Estate: Listings = 28 Sales = 19  Sales/Listings Ratio = 68%

Average Sale Price: $249,459

Conception Bay South Real Estate: Listings = 45   Sales = 31  Sales/Listings Ratio = 69%

Average Sale Price: $216,627

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