Homes Sales were  1% below the 5-year average &  15.6% above the 10-year average for the month of April.

In Newfoundland there were 2,595 Active Listings for sale at the end of April; a decline of 4.3% from April 2023. The lowest supply in more than 15 years.

Out of 2,925 currently posted active Listings, there are 978 Listings posted as "pending Sold", leaving only  1,947 actively for sale –  As indicated above, this is the lowest supply in more than 15 years.  

Supply of Active Listings continued its downward  trend in  April: 21.5% below the 5-year average and 33% below the 10-year average.

377 Units sold in April 2024  - a gain of 28% over April 2023.

Residential activity/volume in St. John’s was up 15.6% in April year over year, while activity in the rest of the province jumped a whopping  35.7%.  

The overall MLS (Home Price Index)HPI composite benchmark price for homes in St. John’s was up in April to $342,500.  Up 7.5% above April 2023.  

114.8 million dollars sold in Real Estate within NL in April.  A massive gain of 31% from April 2023. 

The number of months of inventory was 7 months at the end of April.  Down from the 9 months from April 2023.  And below the long-running average of 13 months for this time of year.

Average Price In Toronto:         $1.156 million  up 0.3% YOY
Average Price In Mississauga  $1.126 million   up 4.6% YOY
Average Price in Ottawa           $705,100   - up 4% YOY   
Average Price In Calgary          $608,000   - up 10% YOY  
Average Price in Vancouver    $1.30 million  up 0.6% YOY
Average Price In Halifax           $600,000   up 4% YOY 
Average Price In St. John's      $342,500   up 7.5% YOY. 

NATIONAL Average Price   $730,000 - up 1.3% in the past 12 months  

The very limited supply is still putting a major constraint on finding a home, keeping upward pressure on house prices. 

New Canadians & Out-of-province buyers are continuing to move into NL because of our affordable housing compared to the rest of Canada.  This increase in buyers is putting extra upward pressure on prices month over month. 

If you are moving around within our marketplace, now is the time to do so.  Check with your Bank about "porting your mortgage" off your existing home to the new home that you are buying - you can move your mortgage keeping your rate.  Call your Bank for more details.  

If you are thinking about selling your home or buying another one, please call me anytime.   I love to have your Referrals!   Let me know when you have family or friends buying or selling.

Kevin Martin
27 Years of experience
RE/MAX Hall of Fame Award.