Newfoundland and Labrador Association of REALTORS®

The number of homes sold through the MLS® System of the Newfoundland and Labrador Association of REALTORS® totaled 357 units in March 2026. This was an increase of 5.3% from March 2025.

Home sales were 0.6% below the five-year average and 9.6% above the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 916 units over the first three months of the year. This was a large decline of 10.1% from the same period in 2025.

Residential activity in St. John’s posted a substantial decline of 20.2% on a year-over-year basis in March, while activity in the rest of the province posted a gain of 20%.

Single detached home sales in St. John’s were down sharply by 32.7% from levels recorded in March 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 $334,000 in March 2026, an increase of 9.3% compared to March 2025.

The benchmark price for single-family homes was $336,900, a moderate gain of 9.5% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $302,300, increasing by 2.3% compared to a year earlier, while the benchmark apartment price was $253,800, up only 0.5% from year-ago levels.

The overall MLS® HPI composite benchmark price for homes in St. John’s was $393,500 in March 2026, increasing by 7.8% compared to March 2025.

The benchmark price for single-family homes in St. John’s was $412,000, a gain of 8.3% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $297,300, up modestly by 3.8% compared to a year earlier, while the benchmark apartment price was $252,900, essentially unchanged, up just 0.6% from year-ago levels.

The average price of homes sold in March 2026 was $352,854, edging up 0.1% from March 2025.

The more comprehensive year-to-date average price was $345,559, a modest gain of 3.8% from the first three months of 2025.

The dollar value of all home sales in March 2026 was $126 million, up by 5.5% from the same month in 2025. This was also a new record for the month of March.

The number of new listings saw a substantial decrease of 14.7% from March 2025. There were 617 new residential listings in March 2026. This was the lowest number of new listings added in the month of March in more than five years.

New listings were 11.3% below the five-year average and 18.6% below the 10-year average for the month of March.

Active residential listings numbered 1,724 units on the market at the end of March, a big decline of 30.5% from the end of March 2025. Active listings haven’t been this low in the month of March in more than two decades.

Active listings were 30.2% below the five-year average and 48% below the 10-year average for the month of March.

Months of inventory numbered 4.8 at the end of March 2026, down from the 7.3 months recorded at the end of March 2025 and below the long-run average of 11.1 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.