Found 2 blog entries tagged as Newfoundland housing market.

Despite the challenges that the world has faced over the past few years, the real estate market of St. John’s, Newfoundland has remained resilient. The capital city of Newfoundland and Labrador has seen moderate growth in prices, steady demand, and a good balance between supply and demand. According to the Canadian Real Estate Association (CREA), the average home price in St. John’s was $296,700 as of April 2021. This represents a slight increase compared to the previous year, but prices have been relatively flat over the past five years. However, this stability is a sign of a market that is resistant to external shocks.

According to the government of Newfoundland and Labrador one of the factors contributing to this stability is the city’s…

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According to data from the Newfoundland and Labrador Association of REALTORS®, the number of homes sold through the MLS® System in February 2023 was 301 units. This represents a decrease of 8.8% from February 2022. Despite the decline, home sales were still 15.1% above the five-year average and 32.5% above the 10-year average for the month of February.

Looking at the year-to-date figures, home sales in the first two months of 2023 totaled 553 units, down 20.4% from the same period in 2022.In terms of residential activity in St. John’s, there was a modest decrease of 1.9% on a year-over-year basis in February, while activity in the rest of the province posted a decline of 12%. Single detached home sales in St. John’s remained unchanged from levels…

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