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How Will the Newfoundland & Labrador Real Estate Market Fare?

Is there a pandemic occurring in Atlantic Canada? A look at the region’s housing data may convince any observer that Canada’s east coast was not experiencing a public health crisis. Despite the severity of COVID-19, the area has seen both its economy and the real estate sector grow to levels unseen before.  The Newfoundland and Labrador real estate market finished 2020 on a high note, and it kicked off 2021 with the same gusto.  Read more . . .

Source: remax.ca
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St. John’s Housing Market Outlook (2021)

Residential sales in 2021 are expected to lower than 2020 transactions, but on par with 2019 numbers. St. John’s Metro area currently has about nine months of inventory, down from 11 months in 2019. While the number of homes for sale has decreased in 2020 compared to past years, the downward trend for residential sales in 2021 is not expected to continue. Current supply levels are expected to continue or increase slightly in 2021. The number of days it took to sell a home decreased in 2020, however days on market are likely to maintain current levels or increase slightly in 2021.  Read more…

 

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