2021 marked Outport Realty’s first year of operation as a full-service brokerage and property management company in Twillingate, Newfoundland. More notably of course, 2021 also marked year two of the COVID-19 global pandemic. It’s fair to say that, like much of the world, the pandemic has been a key driver of disruption within the central Newfoundland real estate market. From our little corner of the world, in Twillingate, 2021 was a very busy year with lots of activity in the market. We saw an unprecedented number of buyers from away and an overall lift in number properties sold, the average list price, and average sale price.
Within the Towns of Twillingate and Crow Head, 30 single family residential homes were sold, compared to 14, in 2020, representing an increase of 114%. On average, homes that sold in the Town of Twillingate sold for 92% of asking v. 84% in 2020.
The data for the Twillingate/Fogo district showed a similar story. 48 single family residential homes were sold for, on average, 88% of asking. Keep in mind, this data does not include any properties sold by owners.
Only a crystal ball could show what’s in store for 2022, but we’re optimistic for the inward migration trend to continue, for the tourists to find their way back to Newfoundland and for the market to remain active.