August PEI Real Estate Market Update



With summer winding up the PEI real estate market took a bit of a breather this month. While listings flat lined and prices continued to be strong, sales dipped. They came in at 135 sales which is considerably lower than the last 3 years. Prices remain strong and are at their highest level for August in the last 4 years. Let's see if the typically strong fall market breathes some life back into the sales numbers.

The economic news lately has been looking much better than last year. Many are claiming that the worst of the recession is behind us if not over completely. Canadian GDP grew from May-June for the first time in 11 months. This is only good news for our local real estate market.

Here are the charts:



Listings: Steady level of inventory



Sales: Weak sales numbers for August




Prices: Prices are strong





Let's see what Fall holds!

Thanks for reading,

Paul

 

 

The statistics on this website are based on information from CREA, and while believed to be accurate, CREA assumes no responsibility for them.

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