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PEI October Real Estate Stats

 

What a great Halloween! It was a perfect night for trick or treating with very mild temperatures and no rain. This was my 2 year old daughter’s first night out trick or treating and she had a great time visiting a few of the neighbour's houses.

October was a good month for PEI real estate. Residential inventory for October is at its lowest level in the last 4 years (1506 listings), and average prices are at their highest level ($155,028). Sales came in at a healthy 150, and while this is lower than the banner year of 2007, it's 11% higher than October 08.

Many western cities like Calgary and Vancouver have seen a tremendous jump in sales activity over the last many months. Interest rates were slashed and the result was a surge in property sales and a return to multiple offer situations (rather than the huge price drops of 2008). While PEI has not experienced a similar market bounce, the Island has not had to endure the extreme market volatility. PEI continues to provide a stable environment to invest in real estate.

 

Sales:

Listings:

Prices:

Thanks for reading,

Paul Boenisch

 

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

Posted by Paul Boenisch on November 2, 2009
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