Newfoundland and Labrador Association of REALTORS®

The number of homes sold through the MLS® System of the Newfoundland and Labrador Association of REALTORS® totaled 410 units in May 2026. This was a large decline of 20.2% from May 2025.

Home sales were 14.1% below the five-year average and 1.7% below the 10-year average for the month of May.

On a year-to-date basis, home sales totaled 1,683 units over the first five months of the year, down 13.2% from the same period in 2025.

Residential activity in St. John’s posted a notable decline of 26.3% on a year-over-year basis in May, while activity in the rest of the province posted a sharp decrease of 17.2%.

Single detached home sales in St. John’s were down substantially by 45% from levels recorded in May 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 $349,900 in May 2026, a sizable gain of 11.3% compared to May 2025.

The benchmark price for single-family homes was $352,700, increasing by 11.3% on a year-over-year basis in May. By comparison, the benchmark price for townhouse/row units was $330,300, a gain of 13.4% compared to a year earlier, while the benchmark apartment price was $268,000, up by 6% from year-ago levels.

The overall MLS® HPI composite benchmark price for homes in St. John’s was $414,200 in May 2026, increasing by 11.1% compared to May 2025.

The benchmark price for single-family homes in St. John’s was $433,200, a gain of 11.3% on a year-over-year basis in May. By comparison, the benchmark price for townhouse/row units was $324,300, up by 14.2% compared to a year earlier, while the benchmark apartment price was $267,500, an increase of 6.1% from year-ago levels.

The average price of homes sold in May 2026 was a record $374,876, a gain of 11% from May 2025.

The more comprehensive year-to-date average price was $354,718, up by 6.6% from the first five months of 2025.

The dollar value of all home sales in May 2026 was $153.7 million, a decrease of 11.4% from the same month in 2025.

The number of new listings saw a sizable gain of 13.4% from May 2025. There were 1,108 new residential listings in May 2026.

New listings were 3.6% above the five-year average and 3.4% below the 10-year average for the month of May.

Active residential listings numbered 2,399 units on the market at the end of May, a decline of 21.3% from the end of May 2025. Active listings haven’t been this low in the month of May in more than two decades.

Active listings were 23% below the five-year average and 40.6% below the 10-year average for the month of May.

Months of inventory numbered 5.9 at the end of May 2026, unchanged from the 5.9 months recorded at the end of May 2025 and below the long-run average of 10.9 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.