What's Really Happening in the NL Real Estate Market?
- jessegibbonsrealto
- Mar 26
- 2 min read
Right now, Newfoundland’s housing market is in a unique position—a perfect storm of opportunity for sellers, and a time of cautious optimism (and urgency) for buyers.
Here’s a look at what’s been happening so far in 2025:
Home sales in Newfoundland & Labrador are up 24.8% year-to-date compared to this time last year
St. John’s is leading the charge with a 26% jump in activity
The benchmark home price in St. John’s is now $371,300, up a remarkable 12.9% year-over-year
Provincial inventory levels have dropped nearly 25%, marking the lowest February supply in two decades
Homes are selling faster, with just 5.6 months of inventory (well below the 10-year average of 15 months)
Interest rates continue to soften, giving buyers more borrowing power and affordability
Translation?
If you're a seller—your home may be worth more than you think.
If you're a buyer—waiting might cost you more if prices and demand keep rising.
For Sellers: Low Inventory = High Opportunity
Buyers are out there and ready—but there simply aren’t enough homes to meet demand. That’s great news if you’ve been sitting on the fence about selling.
Right now, I’m seeing listings that are:
Selling in days, not weeks
Getting 98%–103% of asking price
Attracting multiple offers, especially in popular neighborhoods like St. John’s, Paradise, and CBS
Whether you're upsizing, downsizing, or just curious, I can provide a no-pressure, free home evaluation to help you understand your options.
For Buyers: The Rules Have Changed (In Your Favor)
If you’re buying in 2025, here’s what’s working in your favor:
Insured mortgage limits are now $1.5M, giving you more room to buy
30-year amortizations help lower your monthly payments
You can now withdraw up to $60,000 tax-free from your RRSP under the Home Buyers’ Plan
And the new First Home Savings Account (FHSA) is here—with banks offering perks like cash bonuses and interest earnings
First-time buyer? I’ve got your back. No pressure. No jargon. Just real answers—and a step-by-step strategy that fits your goals and budget.
So… Should You Make a Move?
Only if it’s right for you.
My job isn’t to push you into buying or selling—it’s to give you honest insight, expert guidance, and a solid strategy so you can make a confident, informed decision.
Because whether you're searching for your first home, your forever home, or your next investment, this market is different—and having a local expert on your side makes all the difference.
Let’s Talk.
📍 Curious what your home is worth?
📍 Wondering what your budget could get you in today’s market?
Let’s chat—no pressure, just real advice from someone who knows this market inside and out.
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