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Real estate market update (May 2024)

Newfoundland

🟡 The number of Sales was up 7.0% in May compared to May 2023, and is up 5.3% year to date, January through May.

🟡 The number of New Listings was up 2.9% in May compared to May 2023, and is up 9.6% year to date, January through May.

🟡 The average Sale Price this year, January through May, is up 8.7% to $300,283 compared to an average sale price of $276,293 in the first five months of 2023.


St. John’s Metro

🔵 The number of Sales was up 8.6% in May compared to May 2023, and is up 5.3% year to date, January through May.

🔵 The number of New Listings was up 0.9% in May compared to May 2023, and is up 10.7% year to date, January through May.

🔵 The average Sale Price this year, January through May, is up 8.3% to $356,832 compared to an average sale price of $329,446 in the first five months of 2023.


Central NL

🟣 The number of Sales was up 7.7% in May compared to May 2023, and is exactly even year to date in 2024 compared to 2023.

🟣 The number of New Listings was down 4.8% in May 2024 compared to May 2023, and is up 4.8% year to date, January through May.

🟣 The average Sale Price this year, January through May, is up 1.0% to $212,749 compared to an average sale price of $210,657 in the first five months of 2023.


Western NL

🟢 The number of Sales was up 10.9% in May compared to May 2023, and is up 21.9% year to date, January through May.

🟢 The number of New Listings was down 10.5% in May 2024 compared to May 2023, and is up 2.1% year to date in 2024 compared to 2023.

🟢 The average Sale Price this year, January through May, is up 8.9% to $217,640 compared to an average sale price of $199,811 in the first five months of 2023.

Burin Peninsula NL

🔴 The number of Sales was down 40.0% in May compared to May 2023, and is down 19.4% year to date, January through May.

🔴 The number of New Listings was up 5.6% in May 2024 compared to May 2023, and is down 17.4% year to date in 2024 compared to 2023.

🔴 The average Sale Price this year, January through May, is up 8.1% to $152,810 compared to an average sale price of $141,318 in the first five months of 2023.


Stay tuned for more updates! #RealEstate #Newfoundland #StJohnsMetro #Central #Western #MarketUpdate

(Data from the Newfoundland and Labrador Association of REALTORS® Matrix MLS® system for 2024.)

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