October 2020 St. John's Real Estate Market Stats
For the St. John's Real Estate Metro area, total housing inventory at the end of October 2020 decreased 11.72% to 1,860 existing homes available for sale.
Over the last 12 months this area has had an average of 204 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 6.65% in October 2020 to $314,120 versus the previous year at $294,537.
Average Day on Market Shortens
The average number of 75 days that homes spent on the market before selling decreased by 7.41 days or 8.98% in October 2020 compared to last year’s same month at 82 DOM
Sales Success for October 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 555 New Listings in October 2020, up 3.35% from last year at 537. Furthermore, there were 237 Closed Listings this month versus last year at 237, a 31.65% increase.
Closed versus Listed trends yielded a 56.2% ratio, up from previous year’s, October 2019, at 44.1% a 27.38% upswing. This will certainly create pressure on a decreasing Month’s Supply of Inventory (MSI) in the months to come.
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