St. John's MLS Trends for 4th Quarter 2007

MLS® Residential Sales Post Record Fourth Quarter - MLS® sales surged 43 per cent to a record 1,326 units compared to last year’s fourth quarter sales of 926 units - October, November and December MLS® sales were 475, 497 and 354, respectively - Fourth quarter average MLS® residential house price jumped 11.4 per cent to a record $153,196 compared to $137,478 during the fourth quarter of 2006

Resale Market Returned to Balanced Classification
- The current sales-to-active listings ratio trend and other factors combined, suggest the Market is heading quickly to a sellers classification and already has in some neighbourhoods
- Average time-on-market trended lower during the quarter and price growth was very strong - A further firm reclassification to sellers will depend on first quarter 2008 results, but likely to occur based on current market trends

Active Listings Decline
- After climbing since 2003 and hitting a record high in July, active listings declined during the fourth quarter for the first time since the second quarter of 2004
- The supply of both new and active residential listings averaged 2,070 during the quarter compared to 2,216 a year ago
- New listings decreased 15 per cent, while active listings retreated 7 per cent compared to the fourth quarter of 2006

Click here for the full St. John's MLS Trends Q4 2007 including graphs.