Newfoundland and Labrador Association of REALTORS®

The number of homes sold through the MLS® System of the Newfoundland and Labrador Association of REALTORS® totaled 609 units in July 2025. This was a decline of 4.8% from July 2024.

Home sales were 7.7% below the five-year average and 7.6% above the 10-year average for the month of July.

On a year-to-date basis, home sales totaled 3,099 units over the first seven months of the year. This was up by 9.3% from the same period in 2024.

Residential activity in St. John’s posted a substantial decrease of 11.9% on a year-over-year basis in July, while activity in the rest of the province posted a small reduction of 1.6%.

Single detached home sales in St. John’s posted a substantial decline of 13.8% from levels recorded in July 2024.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $330,500 in July 2025, increasing by 11.3% compared to July 2024.

The benchmark price for single-family homes was $333,200, a gain of 11.4% on a year-over-year basis in July. By comparison, the benchmark price for townhouse/row units was $300,900, down modestly by 1.5% compared to a year earlier, while the benchmark apartment price was $259,400, an increase of 9% from year-ago levels.

The overall MLS® HPI composite benchmark price for homes in St. John’s was $394,400 in July 2025, an increase of 12.8% compared to July 2024.

The benchmark price for single-family homes in St. John’s was $412,600, a sizable gain of 13.3% on a year-over-year basis in July. By comparison, the benchmark price for townhouse/row units was $295,100, edging down 0.9% compared to a year earlier, while the benchmark apartment price was $259,400, a gain of 9.3% from year-ago levels.

The average price of homes sold in July 2025 was a record $355,689, an increase of 9.5% from July 2024.

The more comprehensive year-to-date average price was $340,952, a moderate gain of 9.6% from the first seven months of 2024.

The dollar value of all home sales in July 2025 was $216.6 million, increasing by 4.2% from the same month in 2024.

The number of new listings was up only 0.8% (eight listings) from July 2024. There were 1,037 new residential listings in July 2025.

New listings were 1.3% above the five-year average and 5.4% below the 10-year average for the month of July.

Active residential listings numbered 2,964 units on the market at the end of July, down sharply by 20.2% from the end of July 2024. Active listings haven’t been this low in the month of July in two decades.

Active listings were 21.2% below the five-year average and 36.5% below the 10-year average for the month of July.

Months of inventory numbered 4.9 at the end of July 2025, down from the 5.8 months recorded at the end of July 2024 and below the long-run average of 8.9 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.