Sales Activity March 2025
The number of homes sold through the MLS® System of the PEIREA totaled 160 units last month. This was an increase of 13.5% from last March.
Home sales were 3.3% below the five-year average and 9.6% above the 10-year average for the month of March.
On a year-to-date basis, home sales totaled 397 units over the first three months of the year. This was a sizable gain of 10.3% from the same period in 2024.
New Listings March 2025
The number of new listings saw an increase of 10.1% from last year. There were 317 new residential listings last month - also the largest number of new listings added in the month of March in history!
New listings were 22.9% above the five-year average and 29.8% above the 10-year average for the month of March. Wow!
Active Listings March 2025
Active residential listings numbered 961 units on the market at the end of last month, a moderate gain of 9.6% from the end of March last year. Active listings haven't been this high in the month of March since pre-pandemic days.
Active listings were 39.2% above the five-year average and 11.1% above the 10-year average for the month of March.
The average price of homes sold in in PEI last month did however hit a record: $418,649, increasing by 12.3% from March 2024 and the first substantial increase in this number in well over 2 years. We shall see if this was an outlier or the start of a trend as the summer market gets into gear. See you next month!
