Despite slowdown in other regions across the country, home sales in Newfoundland Labrador (NL) are nearly unchanged (down by 3 sales) from the record for the month seen in April 2021.
Overall, sales across NL are 55.3% above the 10-yr avg!
Avg benchmark price NL $327,700 April 2022, up 11.8% vs April 2021.
While activity across the province as a whole remains high, it’s interesting to note that activity of single dwellings in St. John’s posted a substantial decrease of 22.5% vs levels recorded April 2021.
In reference to inventory, NEW listings are down sharply by 29.8% vs April 2021, or 11% below the 10-yr avg for the month of April. Active residential listings haven’t been this low for the month of April in more than a decade, 35.8% below the 10-yr avg for the month.
A great time to sell to capitalize on low inventory and reap top dollar. For buyers, tougher largely because of low inventory, need to act quickly, listings don’t last. Prices are up but our market is undervalued, many gems are out there.
For more local market scoop reach out anytime!
Rob Burton FRI REALTOR Fellow of the Real Estate Institute (709) 682-2345