What’s Happening in the St. John’s Housing Market
The average residential sale price in the St. John’s housing market increased by 6.3 per cent across all property types between 2025 and 2026, rising from $395,954 to $421,024. Meanwhile, the number of sales decreased by 8.6 per cent over the same period, falling from 1,947 to 1,779. The number of listings also decreased by 6.6 per cent, declining from 2,103 to 1,964.
looking ahead, average 2026 sale prices are expected to increase by approximately 10 per cent above 2025 levels, while the number of sales is projected to decline by about 6 per cent.
The Greater St. John’s Area remains a seller’s market due to low inventory levels, according to Jim Burton, Broker/Owner of REMAX Infinity Realty Inc. The region currently has approximately 4.3 months of inventory, compared with a long-run average of 8.3 months. Well-priced homes continue to attract multiple offers, reflecting ongoing competition among buyers.
Limited new housing supply remains the biggest factor preventing more first-time buyers from entering the market.
The GST/HST rebate has been a positive step that improves affordability and reduces closing costs, but it has primarily benefited buyers who were already close to purchasing. The rebate has increased awareness of new construction, generated more questions about eligibility, and encouraged greater interest in newly built homes. However, increasing housing supply remains the more pressing issue for the market.
Buyers are least willing to compromise on location. While they are demonstrating more flexibility than a few years ago, these compromises are being driven primarily by affordability constraints and limited housing supply rather than by long-term changes in buyer preferences.
According to Jim, the foreign buyer ban has had little impact on affordability or new construction activity. The region’s outlook remains supported by population growth, employment gains, rising household incomes, and continued economic investment. Additional housing supply and more streamlined development approvals are expected to remain important factors moving forward.
Frequently Asked Questions
How have home prices changed in the Greater St. John’s Area?
The average residential sale price in the Greater St. John’s Area increased by 6.3 per cent between 2025 and 2026, rising from $395,954 to $421,024.
How have sales and listings changed in the Greater St. John’s Area?
The number of sales decreased by 8.6 per cent, from 1,947 to 1,779, while the number of listings decreased by 6.6 per cent, from 2,103 to 1,964.
What is expected for Greater St. John’s Area home prices in 2026?
Average 2026 sale prices are expected to increase by approximately 10 per cent above 2025 levels.
What is expected for home sales in 2026?
The number of sales is projected to decline by about 6 per cent.
Why does the Greater St. John’s Area remain a seller’s market?
The region continues to experience low inventory levels, with approximately 4.3 months of inventory compared with a long-run average of 8.3 months. Well-priced homes continue to attract multiple offers.
What is the biggest barrier for first-time buyers?
Limited new housing supply remains the biggest factor preventing more first-time buyers from entering the market.
How is the GST/HST rebate affecting the Greater St. John’s Area housing market?
According to Jim Burton, Broker/Owner of REMAX Infinity Realty Inc., the GST/HST rebate has improved affordability and reduced closing costs, but it has primarily benefited buyers who were already close to purchasing.
Has the GST/HST rebate changed buyer behaviour?
The rebate has increased awareness of new construction, generated more questions about eligibility and encouraged greater interest in newly built homes. However, increasing housing supply remains the more pressing need in the market.
What are buyers least willing to compromise on?
Buyers are least willing to compromise on location.
How are buyer preferences changing?
While buyers are showing more flexibility than a few years ago, most compromises are being driven by affordability challenges and limited housing supply rather than by changing long-term preferences.
What factors are supporting the long-term outlook?
Population growth, employment gains, rising household incomes and continued economic investment are supporting the outlook for the Greater St. John’s Area housing market.
What will be important for future housing growth?
Additional housing supply and more streamlined development approvals are expected to play an important role in supporting future market growth.
Has the foreign buyer ban affected affordability or new construction development?
According to Jim Burton, the foreign buyer ban has had little impact on affordability or new construction activity.
