It’s been a busy summer in the housing market, says Bill Stirling, CEO of Newfoundland and Labradors Association of Realtors. The price of houses is up, sales are up, and demand continues to climb. 

The number of homes sold through the MLS System of the Newfoundland and Labrador Association of Realtors totalled 641 units in July 2024, a gain of 15.7% from July 2023

Stirling says depending on where you are in the province, the price of buying a home is also up. The average price of homes sold last month was just over $325,000. That’s up 6.6% from this time last year. 

According to new statistics from Newfoundland and Labradors Association of Realtors, active listings are the lowest they’ve seen in the month of July in 15 years. Since demand is up, and supply is down, Stirling says it hasn’t been unusual to see the odd bidding war this summer.