Residential Sales in May
The number of homes sold through the MLS® System of the PEI REA totalled 176 units in May 2026. This was a decrease of 19.3% from May 2025, a pretty dramatic drop year over year, but also a drop from last month.
Home sales were 11% below the five-year average and 10.7% below the 10-year average for the month of May.
New Listings in May
The number of new listings saw a minor decrease of 3.7% from May 2025. There were 412 new residential listings in the month.
New listings were 2.5% above the five-year average and 7% above the 10-year average for the month of May. New Listings were up slightly from April too.
Active Listings in May
Active residential listings numbered 1,159 units on the market at the end of May, a small reduction of 2.1% from the end of May 2025.
Active listings were 18.2% above the five-year average and 22.3% above the 10-year average for the month of May.
This number is average post-covid.
Finally the average price of a home in PEI in May was $404,284. This is down slightly from last May by 1.5% but up slightly from last month by about $6K. The average home price on PEI has been in the range of 375-400K now for almost 4 years.
See you next month!
