December 2013 St. John's Real Estate MLS Stats
Total # of MLS Listings [Dec] = 497
Total # of Sales [Dec] = 334
Number of Active Listings for Sale in Newfoundland = 3247
Numbers are based on both residential and commericial listings/sales
Here is a break down by area for December:
St. John’s Real Estate: Listings = 74 Sales = 70 Sales/Listings Ratio = 95%
Average sale price for a home in St. John’s: $328,864 for the month of December and the 12 month average $331,067
Mount Pearl Real Estate: Listings = 15 Sales = 16 Sales/Listings Ratio = 107% Average Sale Price (12 month average): $298,679
Paradise Real Estate: Listings = 13 Sales = 33 Sales/Listings Ratio = 254% Average Sale Price (12 month average): $352,121
East Extern Real Estate: Listings = 19 Sales = 22 Sales/Listings Ratio = 116% Average Sale Price (12 month average): $372,921
Conception Bay South Real Estate: Listings = 30 Sales = 23 Sales/Listings Ratio = 77% Average Sale Price (12 month average): $304,902
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November 2013 St. John's Real Estate MLS Stats
Total # of MLS Listings [Nov] = 904 (residential stats)
Total # of Sales [Nov] = 422 (residential stats)
Number of Active Listings for Sale in Newfoundland = 4436
Here is a break down by area for November:
St. John’s Real Estate: Listings = 181 Sales = 86 Sales/Listings Ratio = 48%
Average sale price for a home in St. John’s: $319,995 for the month of November and the 12 month average $329,946
Mount Pearl Real Estate: Listings = 26 Sales = 21 Sales/Listings Ratio = 81%
Average Sale Price (12 month average): $293,546
Paradise Real Estate: Listings = 42 Sales = 28 Sales/Listings Ratio = 67%
Average Sale Price (12 month average): $353,807
East Extern Real Estate: Listings = 38 Sales = 18 Sales/Listings Ratio = 47%
Average Sale Price (12 month average): $370,807
Conception Bay South Real Estate: Listings = 42 Sales = 23 Sales/Listings Ratio = 55%
Average Sale Price (12 month average): $308,911
St. John's Real Estate luxury home market in high demand
Growth continues unabated in St. John’s luxury home market, with demand reaching unprecedented levels yet again in 2013.Residential sales over $500,000 broke the existing record in 2013, with 172 units changing hands compared with 161 in2012, representing a seven per cent increase over one year ago. With approximately 220 listings available for sale, the upper end remains firmly in buyer’s market territory. Yet, the softer conditions have served to invigorate activity, as buyers are enticed by favourable selection and good value for their dollar. Rising fortunes have alsobolstered high-end sales.
First quarter 2013 St. John's Real Estate Market Outlook
For the St. John’s real estate market, starts for the first quarter of 2013 were 176. 133 of which was single detached. Total starts declined 38.7% with only a 6.3% decline for single detached.The average MLS price for a home in the St. John’s Real Estate Market was $309,551 for the first quarter of this year. This is an increase of 4.3% from last year’s first quarter. MLS sales have decreased by 34.1% comparing the two quarters
December 2012 Housing Starts Trending upwards in the St. John's Real Estate Market
Housing starts in St. John’s, Census Metropolitan Area (CMA) were trending at 2,225 units in December, according to Canada Mortgage and Housing Corporation (CMHC).The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. The standalone monthly SAAR was 2,182 units in December, upfrom 2,150 in November.
St. John's Real Estate Market Update
Buyers are taking advantage of favourable real estate market conditions around St. John’s and areas….sellers too are reaping the rewards. Multiple offers are still in our marketplace, with well-priced listings—especially around the $200k to $300k price range. Properties priced at market value will likely sell quickly for top dollar. The overall pressure on sales and price is significant across the board – and it’s not likely to subside unless more inventory comes on-stream.
Need a Reason to Invest in St. John's Real Estate? How about Fifty one!
There are approximately 51 major developments that could take place in St. John’s in the near future. Pleasantville appears to be the hottest topic (as well as the largest development) A new Canadian Forces Base as well as 975 residential spaces.
Glencrest development is underway in the west end of St. John's. Almost 2,400 acres of land is to be developed.
The old Woolworth building is slated to become an office tower/parking garage.
An $18million dollar hotel is to be built at the corner of Prescott and Water Street.
A $15million dollar hotel/condo building is being built on Temperance Street.
The old Arcade building on Water Street as well as the old CBC building are aimed to be converted to office buildings and condos.
On Tiffany Lane in the East End of St John's a new $10million dollar condo development will be built.
In the West End of St. John's a new $8million dollar seniors condominium complex will be built as well as another in the Center of the City on Blackmarsh Road.
A 200 home project is expected to get underway off Ruby Line and Heavy Tree Road in Mount Pearl.
Lots of new Box Stores being constructed up on Stavanger Drive Area. (Best Buy, Kesleys, new RONA building, new Canadian Tire building) as well as new ones on Kesley Drive near Kenmount Terrace.