Newfoundland and Labrador Association of REALTORS®

The number of homes sold through the MLS® System of the Newfoundland and Labrador Association of REALTORS® totaled 288 units in January 2026, a decline of 15.3% from January 2025.

Home sales were 4.6% below the five-year average and 15.1% above the 10-year average for the month of January.

Residential activity in St. John’s posted a notable decrease of 27.7% on a year-over-year basis in January, while activity in the rest of the province posted a moderate decrease of 9.2%.

Single detached home sales in St. John’s posted a substantial reduction of 56.4% from levels recorded in January 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 January 2026, a gain of 9.7% compared to January 2025.

The benchmark price for single-family homes was $337,000, up by 10.2% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $304,700, essentially unchanged, down just 0.8% compared to a year earlier, while the benchmark apartment price was $251,500, a small reduction of 2.3% from year-ago levels.

The overall MLS® HPI composite benchmark price for homes in St. John’s was $395,500 in January 2026, an increase of 9.3% compared to January 2025.

The benchmark price for single-family homes in St. John’s was $414,000, a sizable gain of 10.1% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $299,100, edging up 0.1% compared to a year earlier, while the benchmark apartment price was $250,600, a modest decline of 2.4% from year-ago levels.

The average price of homes sold in January 2026 was $348,366, a modest gain of 3.9% from January 2025.

The dollar value of all home sales in January 2026 was $100.3 million, a decrease of 12% from the same month in 2025.

The number of new listings fell 16.3% from January 2025. There were 524 new residential listings in January 2026. This was the lowest number of new listings added in the month of January in more than 15 years.

New listings were 13.2% below the five-year average and 24.9% below the 10-year average for the month of January.

Active residential listings numbered 1,668 units on the market at the end of January, a substantial decline of 28.8% from the end of January 2025. Active listings haven’t been this low in the month of January in more than two decades.

Active listings were 27.3% below the five-year average and 45.2% below the 10-year average for the month of January.

Months of inventory numbered 5.8 at the end of January 2026, down from the 6.9 months recorded at the end of January 2025 and below the long-run average of 13.9 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.