December 2019 St. John's Real Estate Market Stats
The St. John's real estate market had a strong finish into the end of 2019. The average sales price of a home decreased but the number of sales were up for the month and finished stronger to close out the year.
The total housing inventory in the St. John's Real Estate Market at the end of December 2019 rose 0.71% to 4,849 existing homes available for sale. Over the last 12 months this area has had an average of 339 closed sales per month and represents an unsold inventory index of 14.32 MSI for this period.
St. John's Real Estate Average Sales Price
According to the preliminary trends, the Eastern Avalon real estate market area has experienced some downward momentum with the decline of Average Price this month. Prices dipped 3.99% in December 2019 to $230,645 versus the previous year at $240,218.
Average Days on Market Lengthens
The average number of 114 days that homes spent on the market in the St. John's real estate market before selling increased by 11.55 days or 11.26% in December 2019 compared to last year’s same month at 102 days on market (DOM).
Sales Success for December 2019 is Positive
Overall, with Average Prices falling and Days on Market increasing, the Listed versus Closed Ratio finished strong this month. There were 371 New Listings in December 2019, down 4.13% from last year at 387. Furthermore, there were 276 Sold Listings this month versus last year at 228, a 21.05% increase.
Closed versus Listed trends yielded a 74.4% ratio which was up from previous year’s, December 2018, at 58.9% , a 26.27% upswing. This will certainly create pressure on an increasing Month’s Supply of Inventory (MSI) in the months to come.
Once again for 2019 RE/MAX St. John's / Mount Pearl continues to hold over 35% of the local market share.
Any questions on the St. John's real estate market please contact me.
Subscribe to my mailing list!
Get the latest market stats for the St. John's Metro Real estate market delivered straight to your inbox!