Eastern Region, NL Real Estate News

By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
A review of the first quarter of 2013 MLS real estate statistics in St. John’s and Mount Pearl Newfoundland indicates an interesting trend.  During the period there were a total of 903 homes listed for sale on the MLS and just 202 homes sold.  Those sold represent 22.3% of those listed during the period. During the same period of 2012, the market finished with fewer home listed.  There were 857 listed and there were 426 homes sold.  Those sold in Q1 of 2012 represent 49.7% of those listed during the period. On the surface this indicates a significant drop in demand has occurred at the beginning of 2013.  Yet, when we take a closer look at the average prices for both of these periods, we see a counter intuitive trend is indicated.  In 2012 the average sale price for the first quarter was...
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