Newfoundland and Labrador Association of REALTORS® reports third highest number of July MLS® home sales on record
Active listings in July, the lowest in more than two decades for this month, resulting in only 4.3 months of inventory at the end of the month.
This is down from the 5.8 months of inventory recorded at the end of July 2025 and well below the long-run average of 8.3 months for this time of year.
Sales
There were 658 housing units sold through the MLS® System of the Newfoundland and Labrador Association of REALTORS® in July 2026. This is an 8.2% increase from July 2025.
Home sales were 4.1% above the five-year average and 12.3% above the 10-year average for the month of July.
On a year-to-date basis, home sales totaled 2,895 units over the first seven months of the year. This was a decline of 6.6% from the same period in 2025.
Residential activity in St. John’s decreased by 3.4% on a year-over-year basis in July, while activity in the rest of the province posted a gain of 13%.
Single detached home sales in St. John’s were up modestly by 1.2% from levels recorded in July 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 $359,300 in July 2026, increasing by 9.3% compared to July 2025. (Refer to the brief explanation of the HPI at the end of the post)
The benchmark price for single-family homes was $362,100, a gain of 9.1% on a year-over-year basis in July. By comparison, the benchmark price for townhouse/row units was $337,600, up by 15% compared to a year earlier, while the benchmark apartment price was $275,300, an increase of 8.8% from year-ago levels.
The overall MLS® HPI composite benchmark price for homes in St. John’s was $427,800 in July 2026, increasing by 10.1% compared to July 2025.
The benchmark price for single-family homes in St. John’s was $447,800, a gain of 10.1% on a year-over-year basis in July. By comparison, the benchmark price for townhouse/row units was $332,700, up by 15.9% compared to a year earlier, while the benchmark apartment price was $274,700, an increase of 8.8% from year-ago levels.
Average Price
The average price of homes sold in July 2026 was $366,413, up modestly by 3% from July 2025.
The more comprehensive year-to-date average price was $361,324, an increase of 5.9% from the first seven months of 2025.
The dollar value of all home sales in July 2026 was $241.1 million, a sizable gain of 11.4% from the same month in 2025. This was a new record for the month of July and was also the largest dollar value of homes sold for any month in history.
New Listings
There were 1,201 new residential listings in July 2026, up by 14.8% from July 2025. This was the largest number of new listings added in the month of July in more than five years.
New listings were 15.1% above the five-year average and 8.3% above the 10-year average for the month of July.
Active Listings
There were 2,815 active residential units on the market at the end of July, a sharp decrease of 20.1% from the end of July 2025. Active listings haven’t been this low in the month of July in more than two decades.
Active listings were 19.7% below the five-year average and 37.3% below the 10-year average for the month of July.
Months of Inventory
There were 4.3 months of inventory at the end of July 2026, down from the 5.8 months recorded at the end of July 2025 and below the long-run average of 8.3 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.
| Month | Sales | Average Price | New Listings | Number of Active Listings | Months of Inventory at Month End* |
|---|---|---|---|---|---|
| January | 288 | $348,366 | 524 | 1688 | 5.8 |
| February | 272 | $332,983 | 449 | 1665 | 6.1 |
| March | 357 | $352,854 | 617 | 1724 | 4.8 |
| April | 357 | $355,067 | 778 | 1934 | 5.4 |
| May | 410 | $374,876 | 1108 | 2399 | 5.9 |
| June | 554 | $375,334 | 1017 | 2567 | 4.6 |
| July | 658 | $366,413 | 1201 | 2815 | 4.3 |
*Months of Inventory at the end of each month is calculated by dividing the number of active listings at the end of each month by the number of sales during the month.
This information on the NL Residential Real Estate Market has been brought to you by:
Gar Mouland, CPA
Canadian Commercial Network of Realtors® (CCN)
Broker/Owner/Operator
Outlier NL Realty
(709) 728-2212
https://www.outliernlrealty.com/
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Understanding the MLS® Home Price Index (HPI)*
*The MLS® Home Price Index (HPI) is one of the most reliable tools for tracking changes in home prices over time. Unlike average or median sale prices, which can fluctuate sharply from month to month, the HPI provides a clearer picture of true market trends.
It tracks price changes for major housing types, including single-family homes, townhouses, and apartments. Prices are measured relative to a base period, making it easy to see how values have risen or fallen over time.
Average and median prices can be misleading because they are heavily influenced by the types of homes sold in a given month.
For example, a rise in luxury home sales can push the average price higher even if typical home values remain unchanged. The MLS® HPI avoids this issue by comparing similar homes over time — an approach often described as an “apples-to-apples” comparison.
Rather than focusing solely on sale prices, the HPI measures how buyers value individual home features.
These include features such as the number of rooms and bathrooms, square footage, lot size, age of the property, and construction details like flooring, roofing, and foundation type. Because these characteristics change gradually, the index produces more stable and meaningful results.