For the St. John's Metro area, total housing inventory at the end of December 2021 decreased 31% to 781 existing homes available for sale. Over the last 12 months this area has had an average of 311 closed sales per month.
Average Sales Prices Increase
Throughout all 2021 the average price of a house in St. John's continued to climb and December was no exception. When comparing prices to last December we saw an increase of 5.8% in December 2021 to $320,058 versus the previous years December of $302,507.
Average Day on Market Continues to Shorten
The average number of days that homes spent on the market before selling decreased to 62 in December 2021 compared to last year’s 69 days on market for same month.
Sales Success for December 2021 is Positive
Once again, for 2021 Average Prices have been going up and Days on Market decreasing, and the Listed versus Closed Ratio finished strong again this month.
There were 146 New Listings in December 2021, down 28% from last December at 203. Furthermore, there were 267 Closed Listings this month versus last year at 272. A decrease of 1.8% year over year.
Closed versus Listed trends yielded a 183% ratio, up from previous year’s, December 2021, at 134% , a 36.5% upswing. This will certainly create pressure on a decreasing Month’s Supply of Inventory (MSI) in the months to come.