Recently, I attended the BOMA NL Real Estate Forum listening to updates from across the industry - residential and commercial Realtors®, economic forecasts, and one of the top developers in the province. The general gist of the event is that industry experts are brought in to provide opinions on the state of the market to building owners and managers to inform their planning and decision making for their businesses.  

The common thread amongst all speakers was that the strength we’re seeing in the market right now isn’t random. It’s being supported by something deeper. And the money makers in this community are feeling bullish about the future. So what does that mean for you? Let’s break it down and translate what’s going on and how it can impact your personal financial planning with respect to real estate. 

Demand Is Strong. And It’s Not Going Anywhere

From the residential side, the message was consistent: Demand remains strong, inventory is tight, and that’s continuing to drive pricing and competition. That part isn’t new, but what’s important is why demand is holding.

First on that list is population growth from recent years. Immigration over the past few years has brought a wave of newcomers who are now settling in, establishing income, and entering the housing market. 

And while that growth over the last few years is forecast to “drag” in the coming years, demographics will play a major role in driving the market as retirement age individuals transition. This is something I have touched on in my blog The Boomer Effect: Shaping the Future of the St. John’s Real Estate Market where I stated the baby boomer generation makes up approximately 20% of the local population representing a large percentage of homeownership:

“(there are) 49,255 households in the local housing market, and… 13,348 (27.1%) of those homes are primarily maintained by someone 65 years or older.”

Let that sink in. That’s over 1 in 4 homes in St. John’s. 

Everyone speaking at this conference was confident that this segment of the population will need to move soon. And the discussion was framed as a matter of solving where they will go. The last thing the market needs is more demand without adequate supply. 

Supply That Makes Sense

And that’s a lot of what was discussed at the conference. From the development side, the focus isn’t just on building more, it’s on building what actually makes sense, and right now, that means purpose-built rentals. KMK Capital are one of the leaders in this field, and they have certainly done their homework, allocating significant capital to address a targeted supply shortage for retirement age individuals.

These aren’t basic rentals. They’re designed to pull homeowners out of houses they’ve lived in for decades. High-quality, low-maintenance, well-located rental buildings with the charm and appeal intended to move people who can afford it. Over 1000 doors are currently in some stage of development, and will be coming to the market over the next few years depending on various development timelines. 

Why That Matters for the Market

If even a portion of that group makes the move, it creates something the market desperately needs.

Turnover.

Homes that have been held long-term start to come back to the market, which should create opportunity for first time buyers, and people moving to the province. It doesn’t flood the market with supply overnight, but it starts to ease pressure in a more natural way.

When you connect the dots, you realize this isn’t just a “low supply, high demand” story. Rather, the nuances suggest that the market transition is supported by economic stability, constrained in how quickly it can add supply, and really just starting the process of a demographic shift. 

That last piece is the one most people aren’t paying attention to. As the market transitions, businesses are not seeing doom and gloom for the future of Newfoundland. Rather, they are seeing opportunity and investing in it. In addition to all the construction planned to bring these 1000 new doors to market to address the targeted supply issue, we also saw massive influx of investment capital from other parts of Canada in 2025, investing in the commercial amenities that support a thriving economy and improve the lives of those living here. 

What This Means for You

If you’re a homeowner, investor, or thinking about making a move, the takeaway isn’t that the market is about to swing one way or the other. It’s that we’re entering a period of gradual transition where demand remains strong, targeted supply is coming, and movement in the market will increasingly be driven by lifestyle decisions, not just necessity.

The people paying closest attention to this aren’t waiting to see what happens next. They’re positioning themselves for it. Because in a market like this, the difference between selling and selling well comes down to preparation, timing, and understanding exactly where your property fits into the bigger picture.

There’s real opportunity here, but it won’t show up the same way for every property, or every seller.

If you’re thinking about making a move in the next 6 to 12 months, this is the window where getting ahead of it matters. And if it’s a longer-term play, the strategy starts now, too.