Sales Activity
Sales Activity Slowed Down: We saw 181 home sales in July 2026, which is down 19.2% from the same month last year. Total dollar volume for the month hit roughly $72.8 million, a 14.7% decrease from July 2025.
New Listings
More Options for Buyers: There were 421 new residential listings introduced in July—about 2.5% lower than last year, but still tracking well above the 5-year and 10-year historical averages for July.
Active Listings
Active Listings at a Five-Year High: At the end of July, there were 1,373 active residential listings on the market, nearly unchanged (+0.9%) from July 2025. In fact, active listings haven't been this high in the month of July in over five years, giving buyers a bit more inventory to browse through!
Months of Inventory: Measured at 7.6 months of inventory at the end of July (compared to 6.1 months a year ago), the market continues to provide a balanced environment where buyers have more breathing room to look around.
Home Prices Keep Growing: The average price for a home on PEI in July 2026 reached $402,099, marking a 5.6% increase compared to July 2025. For the broader year-to-date period, the average price sits at $409,136 (up 3.1% from the first seven months of last year). See you next month!
