Spring is in the air, and so is some serious action in the St. John's housing market! March 2025 brought a mix of highs, lows, and plenty of interesting trends to keep buyers, sellers, and real estate enthusiasts on their toes. Let’s dive into the latest scoop with a lighthearted twist.

1. Inventory Takes a Dive – Where Did All the Houses Go?
If you’ve been house hunting lately, you might be wondering where all the listings have gone. Well, you’re not imagining things—the total housing inventory at the end of March dropped by a whopping 33.15%, leaving just 496 homes available for sale.

With an average of 269 closed sales per month over the past year, this gives us an unsold inventory index of 1.85 MSI. Translation? Homes are flying off the market faster than your favorite concert tickets! Sellers, this is your time to shine.

2. Prices Are Climbing
Here’s some news that’ll make homeowners smile: the average sale price jumped 12.51%, hitting $411,857 in March 2025 compared to $366,062 last year. To see if your home’s value is soaring like this, you might want to consider calling a Royal LePage Atlantic Homestead Realtor® for a Market Evaluation.

Buyers, on the other hand, might feel like they’re playing catch-up with these rising prices.

3. Homes Are Lingering (Just Barely) Longer on the Market
The average days on market (DOM) ticked up ever so slightly—by 0.13 days, to be exact. Homes are now spending an average of 45.97 days on the market compared to 45.85 days last year.

What does this mean? Not much, honestly! Buyers might be taking an extra day or two to mull things over (or binge-watch home renovation shows for inspiration). But overall, homes are still selling pretty quickly in this competitive market.

4. Sales Are Heating Up – Listings and Closings Are on the Rise!
March 2025 brought some good vibes for both buyers and sellers:

New Listings: There were 349 new listings, up 5.12% from last year’s 332. More options for buyers—yay!

Closed Sales: A total of 199 homes closed, marking an increase of 8.74% compared to last year’s 183 closings.

Listed vs Closed Ratio: The ratio improved to 57%, up from last year’s 55.1%, which means more homes are selling relative to what’s being listed—a win-win for everyone involved!

With activity picking up across the board, it looks like spring is bringing fresh energy into the market (and maybe some sunshine too).

5. What Does It All Mean?
So here’s the deal: inventory is tight, prices are climbing, and homes are still selling at a pretty solid pace despite slightly longer DOMs. If you’re a seller, this is your moment—buyers are eager and willing to pay top dollar for their dream home!

For buyers, it’s time to channel your inner house-hunting ninja—be quick, decisive, and ready to make an offer when you find “the one.” And don’t forget to bring your sense of humor along for the ride—it’ll make navigating this competitive market way more fun!

Final Thoughts
March 2025 has been a whirlwind month for real estate, and there’s no sign of things slowing down anytime soon. Whether you’re buying, selling, or just keeping tabs on the market for fun (we see you out there!), it’s clear that spring has brought plenty of excitement to the housing scene.

Stay tuned as we watch how these trends unfold in the coming months—and don’t forget to enjoy the journey while you’re at it!