St. John's Real Estate Market Trends Newsletter

By
Real Estate Agent with Remax Realty Specialists
What a great summer we are having (or is it had).  Unfortunately you can feel the nights getting colder.  On that note, it might be a great time to think of ways to make your home more energy-efficient AND receive grants through the ecoENERGY Retrofit Program. There you can find a list of improvements and retrofits that are eligible under the ecoENERGY Retrofit - Homes program and the corresponding grant amounts. The maximum grant you can receive for a home is $5,000.  Don't forget the Home Renovation Tax Credit.  You can claim a non-refundable tax credit on your 2009 income tax return based on eligible expenses incurred for work performed or goods acquired after January 27, 2009, and before February 1, 2010 resulting in a maximum tax credit of $1,350. 


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

St. John's Real Estate: Listings = 187   Sales = 147
Average Sale Price is St. John's: $244,195 for the month of August

Mount Pearl Real Estate: Listings = 25 Sales = 26 
Average Sale Price: $200,862

Paradise Real Estate: Listings =65 Sales = 33
Average Sale Price: $261,353

East Extern Real Estate: Listings = 36 Sales = 23
Average Sale Price: $250,678

Conception Bay South Real Estate: Listings = 37   Sales = 40
Average Sale Price: $228,363


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St. John's August Housing Starts
Housing starts decreased during August, according to preliminary data released by CMHC. August's housing starts totaled 151 throughout the St. John's real estate area versus 249 starts in August of 2008. An additional 18 starts were recorded in other urban areas across the province, for a total of 169 provincial starts compared to 316 the previous August. For the January to August 2009 period, the St. John's area posted 1,026 housing starts versus 1,079 starts during the same period last year, while provincial starts totaled 1,180 compared to 1,312 a year ago.

"Despite August's decline, the local residential construction sector has posted solid year to date results," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. "Employment and population growth throughout the St. John's area this year continues to bode well for residential construction activity," added Janes.

Newfoundland Real Estate Stats for August
mls graphWe are about to enter into the fall 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.

Monthly Newfoundland Real Estate Market Stats

We'd love to answer any Real Estate question you may have. Just email us, we would be glad to be of assistance.

Curious to see the current price of your property in this hot real estate market?  We are ready to assess the value of your home with a Free Market Evaluation. Allow us to show you how to maximize your value.

Remember to recommend our services to your family and friends.

We're never too busy for your referrals

 
Fraser & Stephen Winters
709-682-9245 or 709-682-9045
info@fatherandsonteam.ca
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