We are almost three weeks into 2011 and market activity in most areas in and around St. John's remains brisk. Inventory in most areas remains low, but sales activity appears to be better that the last couple of January's which was pretty good. The City of St. john's recently announced that they have almost a half a billion dollars worth new project applications up for approval. The City and the Avalon Peninsula in general appears to be in for another banner year.
This certainly is great news for prospective sellers for the near future. Buyers don't despair, your prospects should improve greatly as the first quarter comes to a close, as traditionally many sellers wait till then to sell their homes, often creating a surplus of inventory.