AUGUST MLS STATS UPDATE

August 17, 2022

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Positive and stable! Here are the details!

703 units sold in NL during July 2022, 30.8% above the July 10-yr avg. It was the 3rd best July on record!

Residential activity in St. John’s and the province was down by 11-12% on a yr-over-yr basis. Single detached home sales in St. John’s retreated 21.1% from levels recorded in July 2021. Solid market but some simmering vs what we saw last year.

The dollar value of all home sales in July 2022 was $218.7 million, a mild decrease of 4.2% from the same month in 2021.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average price measures.

The overall MLS benchmark adjusted price for single-family homes in St. John’s was $331,800, up 8.4% yr-over-yr. (The actual average price of homes sold in July 2022 was a record $311,093, similarly up 8.8% from July 2021!)

Inventory remains a big story. Active residential listings numbered 3,156 units on the market at the end of July, a sharp decrease of 32% from the end of July 2021. Active listings haven’t been this low in the month of July in more than a decade, 36.9% below the 10-yr avg for the month of July.

We’re always just a call away if you have a question!

Rob Burton FRI REALTOR® (709) 682-2345 Fellow of the Real Estate Institute | Award Winning #TeamBurton 🍁 Top 5 in Atlantic Canada 2021 #RobBurtonToday

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Houses For Sale St. Johns