Newfoundland and Labrador Association of REALTORS®

The number of homes sold through the MLS® System of the Newfoundland and Labrador Association of REALTORS® totaled 552 units in June 2025. This increased by 13.1% from June 2024.

Home sales were 6.4% below the five-year average and 12.4% above the 10-year average for the month of June.

On a year-to-date basis, home sales totaled 2,490 units over the first six months of the year, a gain of 13.4% from the same period in 2024.

Residential activity in St. John’s posted a modest gain of 1.9% on a year-over-year basis in June, while activity in the rest of the province was up by 18.6%.

Single detached home sales in St. John’s posted a notable decrease of 19.2% from levels recorded in June 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 $325,000 in June 2025, an increase of 10.7% compared to June 2024.

The benchmark price for single-family homes was $327,500, a gain of 10.7% on a year-over-year basis in June. By comparison, the benchmark price for townhouse/row units was $302,600, increasing by 3.2% compared to a year earlier, while the benchmark apartment price was $258,900, a gain of 11.3% from year-ago levels.

The overall MLS® HPI composite benchmark price for homes in St. John’s was $387,800 in June 2025, a gain of 12.3% compared to June 2024.

The benchmark price for single-family homes in St. John’s was $405,100, up by 12.5% on a year-over-year basis in June. By comparison, the benchmark price for townhouse/row units was $296,300, an increase of 4.1% compared to a year earlier, while the benchmark apartment price was $259,000, a gain of 11.6% from year-ago levels.

The average price of homes sold in June 2025 was a record $353,590, up by 11% from June 2024.

The more comprehensive year-to-date average price was $337,307, an increase of 9.8% from the first six months of 2024.

The dollar value of all home sales in June 2025 was $195.2 million, a sizable gain of 25.6% from the same month in 2024.

The number of new listings rose by 12.9% from June 2024. There were 1,103 new residential listings in June 2025.

New listings were 1.3% above the five-year average and 4.4% below the 10-year average for the month of June.

Active residential listings numbered 2,873 units on the market at the end of June, a sharp decrease of 20.2% from the end of June 2024. Active listings haven’t been this low in the month of June in two decades.

Active listings were 22.2% below the five-year average and 36.2% below the 10-year average for the month of June.

Months of inventory numbered 5.2 at the end of June 2025, down from the 7.4 months recorded at the end of June 2024 and below the long-run average of 10 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.