Newfoundland and Labrador Association of REALTORS®

The number of homes sold through the MLS® System of the Newfoundland and Labrador Association of REALTORS® totaled 272 units in February 2026. This was down sharply by 20% from February 2025.

Home sales were 10.6% below the five-year average and 6.1% above the 10-year average for the month of February.

On a year-to-date basis, home sales totaled 559 units over the first two months of the year. This was a decrease of 17.8% from the same period in 2025.

Residential activity in St. John’s was down substantially by 44.6% on a year-over-year basis in February, while activity in the rest of the province posted a decrease of 6.4%.

Single detached home sales in St. John’s posted a big decline of 59.3% from levels recorded in February 2025.

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 $328,100 in February 2026, up by 7.7% compared to February 2025.

The benchmark price for single-family homes was $330,800, an increase of 8% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $311,900, a small gain of 3.7% compared to a year earlier, while the benchmark apartment price was $251,700, falling by 1.9% from year-ago levels.

The overall MLS® HPI composite benchmark price for homes in St. John’s was $389,200 in February 2026, up by 6.5% compared to February 2025.

The benchmark price for single-family homes in St. John’s was $406,900, an increase of 7% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $306,700, a moderate gain of 5.2% compared to a year earlier, while the benchmark apartment price was $250,500, falling by 2% from year-ago levels.

The average price of homes sold in February 2026 was $332,983, a moderate gain of 7.2% from February 2025.

The more comprehensive year-to-date average price was $340,900, increasing by 5.5% from the first two months of 2025.

The dollar value of all home sales in February 2026 was $90.6 million, a decrease of 14.2% from the same month in 2025.

The number of new listings fell by 12% from February 2025. There were 449 new residential listings in February 2026. This was the lowest number of new listings added in the month of February in more than 15 years.

New listings were 15.3% below the five-year average and 25.4% below the 10-year average for the month of February.

Active residential listings numbered 1,665 units on the market at the end of February, a notable decrease of 27.5% from the end of February 2025. Active listings haven’t been this low in the month of February in more than two decades.

Active listings were 28.4% below the five-year average and 47.1% below the 10-year average for the month of February.

Months of inventory numbered 6.1 at the end of February 2026, down from the 6.8 months recorded at the end of February 2025 and below the long-run average of 13.9 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.