February 2021 St. John's Real Estate Market Stats
For the St. John's Metro area, total housing inventory at the end of February 2021 decreased 17.5% to 1,369 existing homes available for sale. Over the last 12 months this area has had an average of 226 closed sales per month.
Average Sales Prices Going Up
According to the preliminary trends, this market area has experienced some upward momentum. Prices went up 9.1% in February 2021 to $306,014 versus the previous year at $280,427
Average Day on Market Shortens
The average number of days that homes spent on the market before selling increased to 94 in February 2021 compared to last year’s 91 days on market for same month.
Strong start to 2021 for first two months
Overall, with Average Prices going up and Days on Market decreasing, the Listed versus Closed Ratio finished strong again this month. There were 345 New Listings in February 2021, down 8.7% from last year at 378. Furthermore, there were 131 Closed Listings this month versus last year at 130.
Closed versus Listed trends yielded a 38% ratio, up from previous year’s, February 2020, at 34.4% , a 14% upswing. This will certainly create pressure on a decreasing Month’s Supply of Inventory (MSI) in the months to come.
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