Newfoundland and Labrador

Market Conditions


Single Detached

Months of inventory for single detached homes numbered 6.1 at the end of the first quarter of 2022, down from the 8.5 months recorded at the end of the first quarter of 2021. This was the lowest level of months of inventory ever recorded in a first quarter.

Months of inventory for single detached homes in St. John’s numbered 4.2 at the end of the first quarter of 2022, down from the 6.5 months recorded at the end of the first quarter of 2021. This was the lowest level of months of inventory ever recorded in a first quarter for St. John’s.

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.

With a tighter market, single detached homes spent less time on the market in the first quarter of 2022 than they had a year earlier.

The median number of days on market for single detached homes was 98 in the first quarter of 2022, down from 111 days in the first quarter of 2021.

The median number of days on market for single detached homes in St. John’s was 85 in the first quarter of 2022, down from 91 days in the first quarter of 2021.


Multi-Family

Months of inventory for multi-family units numbered 4.3 at the end of the first quarter of 2022, down from the 7.3 months recorded at the end of the first quarter of 2021.

Months of inventory for multi-family units in St. John’s numbered 3.7 at the end of the first quarter of 2022, down from the 6.1 months recorded at the end of the first quarter of 2021.

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.

With a tighter market, multi-family units spent less time on the market in the first quarter of 2022 than they had a year earlier.

The median number of days on market for multi-family units was 77 in the first quarter of 2022, down from 97.5 days in the first quarter of 2021.

The median number of days on market for multi-family units in St. John’s was 63.5 in the first quarter of 2022, down from 74 days in the first quarter of 2021.