Found 6 blog entries tagged as St. John's real estate.

In October 2023, 529 homes changed hands through the MLS® System of the Newfoundland and Labrador Association of REALTORS®, a slight dip of 1.1% from the previous year. Though sales trailed the five-year average by 3.5%, they soared 8.4% above the 10-year average for October.

Year-to-date figures showed a 16.2% drop in home sales, with 4,470 units sold in the first 10 months of 2023 compared to the same period in 2022.

St. John's residential activity rose by 5.6%, contrasting with a 3.6% dip in the rest of the province. Single detached home sales in St. John's experienced a 6.3% boost from October 2022.

The MLS® Home Price Index (HPI) indicated a composite benchmark price of $292,400 in October 2023, up 3.9% year-over-year. Single-family…

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Immigration plays a significant role in shaping the real estate market of St. John's. As newcomers arrive in the city, they contribute to the demand for housing, influencing the market dynamics and presenting opportunities for real estate investors and homeowners. In this article, we will explore the impact of immigration on St. John's real estate, including trends, challenges, and opportunities that arise from this demographic shift.

The Growing Immigration Trend in St. John's

St. John's has experienced a growing trend of immigration in recent years. The city's welcoming atmosphere, economic opportunities, and quality of life have attracted individuals and families from various parts of the world. This influx of immigrants has had a profound…

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In a competitive real estate market, multiple offer situations can arise when there are several buyers interested in the same property. Navigating these situations requires careful planning, strategic decision-making, and effective negotiation skills. In this article, we will discuss tips and strategies to help you navigate multiple offer situations and increase your chances of success.

Understanding Multiple Offer Situations

Multiple offer situations occur when there are more than one interested buyer submitting offers on a property within a relatively short timeframe. These situations can create a competitive environment, driving up the sale price and putting pressure on buyers to submit their strongest offers.

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The St. John's real estate market offers a diverse range of opportunities for those seeking to buy or sell a home. Whether you're a first-time buyer or an experienced investor, understanding the market trends can help you make informed decisions. In this article, we delve into the St. John's real estate market trends, providing valuable insights into homes for sale, pricing, popular neighborhoods, and more. Let's embark on this journey to discover the hidden gems within the St. John's real estate market.

St. John's Real Estate Market Trends: Insights into Homes for Sale

The St. John's real estate market is a dynamic and ever-evolving landscape. By analyzing current trends, we can gain valuable insights into homes for sale and make informed…

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Despite the challenges that the world has faced over the past few years, the real estate market of St. John’s, Newfoundland has remained resilient. The capital city of Newfoundland and Labrador has seen moderate growth in prices, steady demand, and a good balance between supply and demand. According to the Canadian Real Estate Association (CREA), the average home price in St. John’s was $296,700 as of April 2021. This represents a slight increase compared to the previous year, but prices have been relatively flat over the past five years. However, this stability is a sign of a market that is resistant to external shocks.

According to the government of Newfoundland and Labrador one of the factors contributing to this stability is the city’s…

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Buying or selling real estate in St. John's, Newfoundland and Labrador, can be an exciting and rewarding experience, but it's important to understand the taxes and fees associated with property ownership. In this comprehensive guide, we'll explore the various taxes and fees that buyers and sellers should be aware of. 

Property Taxes

According to the City of St. John's website, property taxes are determined by the assessed value of the property and paid annually. As of 2023, the property tax rate for residential properties in St. John's is 6.7 mills (or $6.70 per $1,000 of assessed value), while the tax rate for commercial properties is 23.2 mills (or $23.20 per $1,000 of assessed value). As a buyer, it's important to understand the current…

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