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Average Housing prices for St. John’s – May

st. john's housing market

Number of active listings in the St. John’s Metro real estate market are up 7% so far for 2016 along with the number of sales which are up 1%. Sales for the month of May compared to last year are was up by 3%.  We came off a slower first quarter to 2016 but the second quarter spring market appears to be picking up stream.

Total # of MLS Listings = 1561
Total # of Sales [May] = 369

Number of Active Listings in Newfoundland = 5805

Here is a break down by area for May

Homes for sale in St. John’s = 233 Sales = 65
Sales/Listings Ratio = 28%
St. John’s average house price: $292,747 for the month of May and the 12 month average $313,204

Mount Pearl: Listings = 39 Sales = 20
Sales/Listings Ratio = 51%
Mount Pearl Average house Price (12 month average): $290,317

Paradise: Listings = 73 Sales = 20
Sales/Listings Ratio = 27%
Paradise Average house Price (12 month average): $347,375

East Extern: Listings = 72 Sales = 15
Sales/Listings Ratio = 21%
East Extern Average house Price (12 month average): $396,087

Conception Bay South: Listings = 85 Sales = 30
Sales/Listings Ratio = 35%
CBS Average House Price (12 month average): $299,314

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

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Average St. John’s House Prices for April 2016

Average St. John's House Prices

Average St. John’s House Prices for April 2016

While the start of the year was slow for the St. John’s real estate market, April seemed to pick up a little. While average St. John’s house prices are down 4% according to the RE/MAX Spring Market Report for St. John’s we are actually up 19% in sales for the month. (compared to 2015)  Year to date we are flat in sales and the number of listings are up 7%.

It’s still currently a buyers market, and MLS® listings are still remaining on the market for over 70 days.  I expect this trend to continue throughout the year.

Average St. John's House Prices

Total # of MLS Listings = 1202
Total # of Sales [April] = 349

Number of Active Listings for Sale in Newfoundland = 5186
Numbers are based on both residential and commercial listings/sales

Here is a break down by area for April

Homes for sale in St. John’s = 194 Sales = 81
Sales/Listings Ratio = 42%
St. John’s average house price: $290,954 for the month of March and the 12 month average $313,537

Mount Pearl: Listings = 33 Sales = 24
Sales/Listings Ratio = 73%
Mount Pearl Average house Price (12 month average): $292,024

Paradise: Listings = 41 Sales = 22
Sales/Listings Ratio = 54%
Paradise Average house Price (12 month average): $352,092

East Extern: Listings = 47 Sales = 11
Sales/Listings Ratio = 23%
East Extern Average house Price (12 month average): $395,547

Conception Bay South: Listings = 44 Sales = 29
Sales/Listings Ratio = 66%
CBS Average House Price (12 month average): $302,890

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

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Curious to know what your home is worth?

Ask us about a FREE no obligation market evaluation on your home

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Recap of the 2015 St. John’s average housing price and 2016 Predictions

St. John’s Average Housing Price

The St. John’s average housing price (Metro Area) declined by approximately two per cent year-over-year to an estimated $297,300 for 2015. Sales increased moderately: there were 833 sales between January and October of 2015, compared to 793 during the same period last year. There was a good selection of inventory on the market in 2015, and properties averaged 70 days on market. Similarly high inventory levels are expected for 2016, and may cause prices to soften somewhat.

St. John's Average House Price

Buyers looking to purchase first homes in the $270,000 to $330,000 range drove the market, followed by move-up buyers purchasing in the $350,000 to $400,000 range. Foreign buyers are fairly new to the St. John’s real estate market, and are anticipated to play a growing role over the next several years.

First-time buyers

In October, the government of Newfoundland and Labrador introduced the Downpayment Assistance Program, which provides first-time homebuyers with low-to-moderate incomes the opportunity to qualify for downpayment loan assistance to purchase a home. The new program, combined with continued low interest rates, is expected to increase the number of first-time buyers next year. This is anticipated to increase demand for entry-level homes, encouraging their current owners to sell and move up.

 

Condo market

There is high inventory in the St. John’s condo market, as many new developments were built to meet demand from the oil industry, which has since been scaled back. A good selection of entry-level units appeals to first-time buyers and “downsizers”.

Luxury homes

The luxury home market was slower in 2015, due to the decline in oil prices and cutbacks in the industry. There were 25 sales in the $750,000 to $1 million range between January and October 2015, compared to 41 during the same period in 2014. Although demand has decreased, St. John’s average housing price in the luxury market are expected to remain stable in 2016.

st johns average housing price

 

 

Average St. John’s Houses Prices for September 2015

Average St. John’s House Prices for September 2015

While the start of the year was slow for the St. John’s real estate market (as was the weather) things came back to normal as we ended the 2nd quarter and grinded through the 3rd Quarter. With all the municipal property assessments happening, there appears to be a lot of shocked home owners and potential appeals in the near future.  If you wish to appeal your property assessment figure in St. John’s here is the link. Lots of info on the City of St. John’s website. Curious to know what’s the difference between appraisal value and assessment value? We can help.

Total Listings are down just 1% year to date and the number of sales til September are basically flat being up just 1%.  Even the expired listings are coming back to “normal” levels coming in at about 11% year to date.

 

St. John's average house price

Total # of MLS Listings = 1162
Total # of Sales [Sept] = 455

Number of Active Listings for Sale in Newfoundland = 5788
Numbers are based on both residential and commercial listings/sales

Here is a break down by area for September:

St. John’s: Listings = 233 Sales = 98
Sales/Listings Ratio = 42%
St. John’s average house price: $334,529 for the month of September and the 12 month average $321,392

Mount Pearl: Listings = 32 Sales = 13
Sales/Listings Ratio = 41%
Mount Pearl Average house Price (12 month average): $297,370

Paradise: Listings = 55 Sales = 21
Sales/Listings Ratio = 38%
Paradise Average house Price (12 month average): $358,266

East Extern: Listings = 65 Sales = 18
Sales/Listings Ratio = 28%
East Extern Average house Price (12 month average): $388,032

Conception Bay South: Listings = 69 Sales = 24
Sales/Listings Ratio = 35%
CBS Average House Price (12 month average): $302,883

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

 

Average St. John’s House Prices July 2015

Average St. John’s House Prices for July 2015

Summer has finally arrived in St. John’s and so has the Summer St. John’s Real Estate market. Price have remained fairly stable.  Listings are up just 2% year to date and the number of sales in July popped to 13% to bring the year to date sales up 1% overall.  Even the expired listings are coming back to “normal” levels.  Like the weather, the real estate market had a slower start to the year but both thankfully have seemed to heat up.

 

July-3yr-activity

Total # of MLS Listings = 1498
Total # of Sales [July] = 583

Number of Active Listings for Sale in Newfoundland = 6163
Numbers are based on both residential and commercial listings/sales

Here is a break down by area for July:

St. John’s: Listings = 253 Sales = 120
Sales/Listings Ratio = 47%
St. John’s average house price: $322,545 for the month of July and the 12 month average $326,797

Mount Pearl: Listings = 39 Sales = 29
Sales/Listings Ratio = 74%
Mount Pearl Average house Price (12 month average): $297,212

Paradise: Listings = 69 Sales = 25
Sales/Listings Ratio = 36%
Paradise Average house Price (12 month average): $352,096

East Extern: Listings = 57 Sales = 20
Sales/Listings Ratio = 35%
East Extern Average house Price (12 month average): $385,644

Conception Bay South: Listings = 69 Sales = 44
Sales/Listings Ratio = 64%
CBS Average House Price (12 month average): $306,198

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

 

Average St. John’s House Prices April 2015

Average St. John’s House Prices for April 2015

What’s more exciting then last weeks HST budget hike or the Mayweather vs Pacquiao boxing match?  You guess it….a complete breakdown of the average St. John’s House Prices for April.

We are well into the spring market and things are taking off once again as they normally do this time of year. Listings and sales are up for the year as well as the average house prices.

Graph

 

 

Total # of MLS Listings = 1003
Total # of Sales [Apr] = 278

Number of Active Listings for Sale in Newfoundland = 4756
Numbers are based on both residential and commercial listings/sales

 

Here is a break down by area for April:

St. John’s: Listings = 205 Sales = 63
Sales/Listings Ratio = 31%
St. John’s average house price: $314,684 for the month of April and the 12 month average $339,200

Mount Pearl: Listings = 33 Sales = 15
Sales/Listings Ratio = 45%
Mount Pearl Average house Price (12 month average): $289,308

Paradise: Listings = 62 Sales = 21
Sales/Listings Ratio = 34%
Paradise Average house Price (12 month average): $353,028

East Extern: Listings = 66 Sales = 12
Sales/Listings Ratio = 18%
East Extern Average house Price (12 month average): $404,438

Conception Bay South: Listings = 39 Sales = 24
Sales/Listings Ratio = 62%
CBS Average House Price (12 month average): $304,457

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

Total MLS listings are up 8% for the month and up 2% so far for the year. On the sales side of the coin, sales of houses in the St. John’s Real Estate Market area are up 5% for both the month and for the year.  Basically there has been no change in the sales for the past 2 months. 49% difference in expired listings last month compared to April 2014 and 37% increase in expired listings thus far for 2015.

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Graphical view of the Average House Prices for the St. John’s Metro real estate area

March 2015 Average House Prices for the St. John’s Metro real estate market. #nlrealestate

March 2015 Average House Prices for the St. John's Metro real estate market. #nlrealestate(St. John’s Average housing prices MLS® Stats from March 2014 to March 2015)

 

St. John’s Real Estate Average House Prices for March 2015

 

St. John’s Average House Price for March 2015

Well the first quarter of 2015 is behind us and there hasn’t really been much movement with regards to the St. John’s Real Estate Average House Prices.  Typically we pick up in the spring time, so hopefully with the snow melting this once again holds true.  The media has been pumping a lot of negative about the real estate market and saying big words like “bubble” and “housing crash”.  I can not stress, this is far from the truth.  We are certainly not going to see any positive gains this year, but we certainly will not see huge negative numbers either.  There have been more homes over the 750k range sold thus far this year then all last year combined.  The St. John’s average house price will remain flat for 2015 and CMHC’s is predicting about the same for 2016.  st. john's real estate stats

Total # of MLS Listings = 942
Total # of Sales [Mar] = 318

Number of Active Listings for Sale in Newfoundland = 4491
Numbers are based on both residential and commercial listings/sales

Here is a break down by area for March:

St. John’s: Listings = 178 Sales = 72
Sales/Listings Ratio = 40%
St. John’s average house price: $304,884 for the month of March and the 12 month average $340,348

Mount Pearl: Listings = 30 Sales = 20
Sales/Listings Ratio = 67%
Mount Pearl Average house Price (12 month average): $290,855

Paradise: Listings = 34 Sales = 17
Sales/Listings Ratio = 50%
Paradise Average house Price (12 month average): $351,582

East Extern: Listings = 49 Sales = 24
Sales/Listings Ratio = 28%
East Extern Average house Price (12 month average): $406,325

Conception Bay South: Listings = 66 Sales = 14
Sales/Listings Ratio = 21%
CBS Average House Price (12 month average): $304,910

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

Sales jumped 16% for the month of March and are up 5% so far in 2015.  As I mentioned in last months February real estate stats review we saw a flurry of activity towards the end of the month and this pop in sales was quite possible.  Total listings are exactly the same as this time last year (actually on par the past 2 years). Once again we are seeing huge numbers of listings expire. 53% difference in listings last month compared to March 2014 and 40% increase in expired listings for the first quarter of 2015.

St. John’s Real Estate Average House Prices February 2015

 

St. John’s Real Estate Average House Prices for February 2015

I normally do not track December and January real estate market statistics as I find they are a VERY inaccurate pulse of our current market. (as a snap shot in time) The St. John’s Real Estate Average House Prices for February 2015 are below and show a truer picture as we continue into the spring real estate market.st. john's real estate stats

Total # of MLS Listings = 834
Total # of Sales [Feb] = 218

Number of Active Listings for Sale in Newfoundland = 4422
Numbers are based on both residential and commercial listings/sales

Here is a break down by area for February:

St. John’s: Listings = 138 Sales = 54
Sales/Listings Ratio = 39%
Average sale price for a home in St. John’s: $340,547 for the month of February and the 12 month average $343,510

Mount Pearl: Listings = 19 Sales = 8
Sales/Listings Ratio = 42%
Average Sale Price (12 month average): $291,109

Paradise: Listings = 37 Sales = 19
Sales/Listings Ratio = 44%
Average Sale Price (12 month average): $351,166

East Extern: Listings = 56 Sales = 10
Sales/Listings Ratio = 18%
Average Sale Price (12 month average): $402,048

Conception Bay South: Listings = 34 Sales = 9
Sales/Listings Ratio = 24%
Average Sale Price (12 month average): $304,778

For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

Sales are down a mere 2% so far in 2015.  This accounts for 9 sales. The number of listings are down 9% year to date.  We noticed an increase in sales in our office during the February month.  Seeing that RE/MAX does approximately 40% of the business in the St. John’s Real Estate Market I expect a little pop in stats for the March month when the transactions close.

Graphical Review of the Greater St. John’s Real Estate Market Stats for 2014

 

Below is a graph for the Greater St. John’s Real Estate market for the past 3 years (Jan 2012 to Dec 2014). The number of new listings have increased over the past 3 years and the number of expired listings (properties that failed to sell)  have jumped significantly.  However, the number of listings that have sold in the Greater St. John’s Real Estate market have been fairly consistent.

You can see from the graph the typical seasonal cycle of the St. John’s real estate market.  The listings start to ramp up in the spring and decline as we enter the month of December.  December usually has the highest month for expired listings and conversely the lowest months for new listings which is clearly evident from the graph,

 

st. john's real estate stats

Here is a zoomed in monthly graph for the year 2014.

St. John's Real Estate Graph 2014

 

For additional information on statistics for your area please contact us and we will be more then happy to assist you.