The outlook for Newfoundland Real Estate for 2008 will be positively supported by a strong provincial economy, with the average MLS® price forecast to increase 6.4% to $157,500. REMAX is suggesting a 12% increase which would put the average price around the $170,000 mark. The expected increase in single detached and two apartment homes can be seen already, and it's very early in the new year.
Currently we are experiencing low housing inventory and a high number of buyers. Now is the right time to sell your house for maximum value.
I recently read a review of average St. John's House prices from 2002 - 2008 (forecasted) from CMHC. Good to see the St. John's real estate market on the rise in recent years.
2002 - $113,081 2003 - $119,822 2004 - $131,499
2005 - $141,167 2006 - $139,542 2007 - $148,000
And forcasted for 2008 - $157,500
Want to keep up with the latest market news and trends in St. John's?
We invite you to visit our St. John's Real Estate Blog.
Fraser and Stephen Winters are consistent Top Producers with RE/MAX. We invite you to contact us with any of your St. John's real estate needs and questions. We're never to busy for your referrals!
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Great info on the markets! I guess Hibernia and the other project are effecting you with lots of job creation! I checked your blog! It's great as well. What platform do you use? I'm trying to learn wordpress but am not sure it is the right way to go.
Nice post, very to the point. It's nice to see some positive movement in the market in NL. I remember being an agent there in the early '90s and the market was brutal. It's very difficult psychologically on you as an agent. Dealing repeatedly with good people in desperate circumstances trying to sell their homes and you delivering bad news gets very hard.