Residential activity in the St. John’s real estate market was up by 39.1% (36 sales) on a year-over-year basis in September 2019. Activity in the rest of the province rose by 17.7%.
The number of homes sold in the region serviced by the Newfoundland and Labrador Association of REALTORS® was 400 units in September 2019. This was a 23.8% jump from September 2018 and is back in line with the five and 10-year averages for the month.
Home sales up year-over-year in September in Newfoundland
On a year-to-date basis, home sales totalled 3,006 units over the first nine months of the year, up 7.4% from the same period in 2018. It stood above 2017 as well.
Single detached home sales in St. John’s rose by 24.5% from levels recorded in September 2018.
Nationally, home sales activity rose by 15.5% from year-ago levels in September 2019.
The average price of homes sold across all of Newfoundland and Labrador in September 2019 was $238,403, down 6.4% from September 2018.
The more comprehensive year-to-date average price was $241,214, down 4.6% from the first nine months of 2018.
The national average price, by comparison, rose 5.3% on a year-over-year basis to $512,501 in September 2019.
The dollar value of all home sales in the province for September 2019 was $95.4 million, rising 15.9% from the same month in 2018.
There were 903 new residential listings in September 2019. This was down 7.5% on a year-over-year basis.
Overall supply of homes on the market remains historically elevated. Active residential listings numbered 5,506 units at the end of September. This was down 4% from the end of September 2018.
Months of inventory numbered 13.8 at the end of September 2019. Down from the 17.8 months recorded at the end of September 2018. We are still above the long-run average of 11.7 months for this time of year however.
Comparing September 2019 stats to August 2019 St. John’s real estate stats we are still seeing an uptrend in the local market.
Contact me for all the latest updates and stats and market trends for the St. John’s Real estate market.