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.

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