Sales Activity
Sales activity dipped by 11% on PEI vs. November of last year, but the average home price hasn’t budged. With lower interest rates it will be interesting to see what happens in 2026 market! However, on a year-to-date basis, home sales totaled 2,005 units over the first 11 months of the year. This was up by 5.1% from the same period in 2024.
New Listings
The number of new listings fell 7.5% from November 2024. There were 211 new residential listings last month.
New listings were 6.6% below the five-year average and 4.2% above the 10-year average for the month of November however this number is not far off the mark as you can see from the chart to the left.
Active Listings
Active residential listings numbered 1,136 units on the market at the end of November, up by 4.9% from 2024. Active listings haven't been this high in the month of November in more than five years.
Active listings were 21.2% above the five-year average and 19.1% above the 10-year average for the month.
Inventory has been steadily increasing now for a year, giving buyers more choice and balancing the market.
Months of Inventory
Months of inventory numbered 7.6 at the end of November 2025, up from the 6.4 months recorded at the end of November 2024 and above the long-run average of 6 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
Finally the average home price dropped $500 from last month to $407,587. This metric has shown incredible stability for the last 3 years now as a new normal average price on PEI somewhere between $375K-400.
See you next month!
