July 2020 St. John's Real Estate Market Stats
For the St. John's Real Estate Metro area, total housing inventory at the end of July 2020 decreased 13.29% to 1,996 existing homes available for sale.
Over the last 12 months this area has had an average of 184 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 2.17% in July 2020 to $295,457 versus the previous year at $289,195.
Average Day on Market Shortens
The average number of 78 days that homes spent on the market before selling decreased by 8.59 days or 9.87% in July 2020 compared to last year’s same month at 87 DOM
Sales Success for July 2020 is Positive
Overall, with Average Prices going up and Days on Market decreasing, the Listed versus Closed Ratio finished strong this month. There were 716 New Listings in July 2020, up 4.37% from last year at 686. Furthermore, there were 353 Closed Listings this month versus last year at 271, a 30.26% increase.
Closed versus Listed trends yielded a 49.3% ratio, up from previous year’s, July 2019, at 39.5% a 24.80% upswing. This will certainly create pressure on a decreasing Month’s Supply of Inventory (MSI) in the months to come.
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