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June 2025 PEI Real Estate Statistics

Sales Activity June 2025

The Summer market is under way on PEI but stability seems to be the trend. New Listings are up but sales are too! See what happened last month:

Homes sold totalled 243 units in June 2025. This was an advance of 51.9% from June 2024. This was also a new sales record for the month!

New Listings June 2025

The number of new listings saw a gain of 23.5% from June 2024. There were 458 new residential listings last month. This was the largest number of new listings added in the month of June in a decade.

Active Listings June 2025

Active residential listings numbered 1,260 units on the market at the end of June, up modestly by 2.9% from the end of June 2024. Active listings haven't been this high in the month of June since before COVID times. However they are still quite stable overall, there isn’t a massive surplus inventory like a decade ago.

The average price of a home sold on Prince Edward Island last month was $403,987. Down slightly from last month but as the chart below indicates this number has been relatively stable since late 2022. See you next month!

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Septic Systems & Real Estate: What to Know

Prince Edward Island, like a lot of areas in Canada, has substantial rural areas with homes serviced by an on site sewage disposal system or as they are commonly called “septic systems”. Depending on the soil type there are several different types of systems that are installed underground. These including basic concrete tanks, holding tanks and engineered systems. All of these require regular maintenance and service. A holding tank has an alarm monitor that advises the homeowner when the tank needs emptying. Basic systems require the homeowner to monitor the area around the tank and field/drainage tiles to ensure there has been no failure of the system. Depending on the size of the tank and the number of people in the home regular pumping should occur every 2-3 years.  There are licensed companies who, for a fee, will inspect and pump your system. Some common malfunctions include clogging of drainage pipes or collapsing due to age or a vehicle running over the system or improper drainage from the tank to the field tiles.

It’s good practice to have your system checked prior to listing your home in case maintenance is required!

A more comprehensive guide published by the Government of Prince Edward Island regarding do’s and don’ts of septic systems is attached here for your reference.

https://www.princeedwardisland.ca/sites/default/files/publications/on-site_sewage_disposal_systems_-_a_homeowners_guide.pdf

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May 2025 PEI Real Estate Statistics

Sales Activity May 2025

The Spring market was coming to an end and the Summer market is kicking into gear as we arrive in June. Here’s what the real estate market looked like in PEI last month!

The number of homes sold through the MLS® System of the Prince Edward Island Real Estate Association totaled 218 units in May 2025. This was up by 6.9% (14 sales) from May 2024. Residential sales haven't hit this level in the month of May in more than five years.

New Listings May 2025

The number of new listings was essentially unchanged, up only 0.2% (one listing!) from May 2024. There were 426 new residential listings in May 2025. This was the largest number of new listings added in the month of May in more than five years.

New listings were 9.3% above the five-year average and 8.9% above the 10-year average for the month of May.

Active Listings May 2025

Active residential listings numbered 1,182 units on the market at the end of May, an increase of 6.2% from the end of May 2024. Active listings haven't been this high in the month of May in more than five years.

Active listings were 38.5% above the five-year average and 16% above the 10-year average for the month of May.

The average price of a home sold on Prince Edward Island last month was $410,980. Down slightly from last month but as the chart below indicates this number has been relatively stable since late 2022. See you next month!

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April 2025 PEI Real Estate Statistics

Sales Activity April 2025

As you can see from the chart this month had no surprises based on the past few years of April sales numbers.

The number of homes sold through the MLS® System totaled 184 units in April 2025. This was an increase of 4% (seven sales) from last year. A pretty solid month on PEI for the spring market except for outliers in 2020 and 2021.

New Listings April 2025

New listings are on par with last year’s numbers, but a small increase this April is the record for most new listings in the month in history on PEI. This means stable inventory numbers with no extreme swings though since there’s lots of product out there for buyers to shop for.

Active Listings April 2025

Active residential listings numbered 1,067 units on the market at the end of April, a moderate gain of 8% from the end of April 2024. Active listings haven't been thishigh in the month of April in more than five years.

So Inventory is good and stable, and has been for quite a while, though home prices have not really decreased as a result they remain on their slow and steady climb.

The average price of a home sold on Prince Edward Island last month was $417,794. Down slightly from last month but as the chart below indicates this number has been relatively stable since late 2022. See you next month!

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Mar 2025 PEI Real Estate Statistics

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!

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Feb 2025 PEI Real Estate Statistics

New Listings February 2025

The number of new listings rose 13.8% from February 2024. There were 231 new residential listings in February 2025. This was the largest number of new listings added in the month of February in more than 15 years!

New listings were 17.9% above the five-year average and 23.3% above the 10-year average for the month of February.

Sales Activity February 2025

The number of homes sold through the MLS® System of the PEIREA totaled 126 units in February 2025. This was a gain of 9.6% (11 sales) from February 2024.

Home sales were 2.3% below the five-year average and 4.6% above the 10-year average for the month of February.

On a year-to-date basis, home sales totaled 237 units over the first two months of the year, up by 8.2% from the same period in 2024.

Active Listings February 2025

Active residential listings numbered 908 units on the market at the end of February, up by 9.5% from the end of February 2024. Active listings haven't been this high in the month of February in more than five years.

Active listings were 35.9% above the five-year average and 8.3% above the 10-year average for the month of February.

The average price of homes sold in February 2025 was $373,993, a decrease of 6.2% from February 2024. This number however is still relatively stable as it has only varied slightly in almost 2.5 years on PEI.

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Real Estate 101: What is the Prohibition On the Purchase of Residential Property by Non-Canadians Act

On January 1, 2023 the federal government introduced an Act called the Prohibition on the Purchase of Residential Property by Non Canadians Act. A long name but based on the regulations sent out in conjunction with this Act some basic points are fairly clear.

1. This Act applies to anyone who is not a Canadian Citizen or has achieved permanent resident status. There are a few exceptions based on work visas and students studying in Canada. These exceptions are limited by years spent in Canada during a prescribed period.

2. Residential property is defined as 3 units or less. So other types of real property are available to be purchased by foreigners. The focus is to free up “homes” for Canadians.

3. The ban as it pertains to PEI is only in certain areas. As defined by Canadian census there is a map available that shows where the ban is and other areas outside that mapped are available for foreigners to buy, including the 3 units or less residential. The Maps are available to view below!

Charlottetown census agglomeration map

Summerside census agglomeration map

4. The ban is in force until Jan 1, 2027. It was originally set to expire Jan 1, 2025 but was since extended.

5. REALTORS® are required at point of sale to ascertain the status of our buyers. That means we will be asking buyers to confirm their status prior to writing a contract.

Remember! PEI is still subject to the Lands Protection Act which sets out limits non residents may buy before they have to apply for permission from the Island Regulatory and Appeals Commission. That is another layer of rules already in place specifically for Prince Edward Island.

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Year End Real Estate Statistics for Prince Edward Island

New Listings for 2024

The best word to describe real estate on PEI in 2024 was “stable”

Statistics showed very little change from 2023 stats across different data, including new listings, sales & average price.

3,491 New 🏡 Listings came on the PEI MLS® Listing System in 2024. Up by 9.3% from last year.

Sales Activity for 2024

The best word to describe real estate on PEI in 2024 was “stable”

On an annual basis, home sales totaled 2,028 units over the course of 2024. This was an increase of 8.7% from 2023. Certainly this was down from the highs of 2021 Covid times but quite a solid year for sales on PEI on average.

Active Listings Average for 2024

This number is the average of how many listings were on the market at the end of each month in 2024, so as you can see inventory has steadily improved over the last couple of years which helps prices and selection stay stable!

The average inventory at the end of every month in 2024 was 1,044 homes! Good selection!

And Finally the average home price on Prince Edward Island in 2024 was $389,428. This number hasn’t really dramatically changed since the end of 2022. It has been very stable despite interest rates fluctuating and inventory changing on the Island. So likely 2025 will see more of the same. We’re predicting that we’re going to see a much stronger and resilient 2025 where we’ll probably hover around a balanced-to-a-seller’s market.

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Real Estate 101: What is IRAC?

Most Islanders have heard of the Island Regulatory and Appeals Commission because they’re responsible for regulating gasoline prices, car insurance rates, and electricity rates on PEI. So they play a direct role in many people’s lives whether they are aware of it or not. However, they are important in certain areas of real estate as well because they administer land ownership regulation on PEI. This is usually not a factor for most residential transactions in real estate on Prince Edward Island, but the Lands Protection Act sometimes has special requirements especially for people who “Come From Away” and are non-residents of the province who wish to buy land here.

It can be quite complicated to navigate these special regulations but your REALTOR® can obtain advice on how best to navigate these particular rules.

More information about IRAC can be found on their site, but when it comes to your real estate transaction, any of our REALTOR® professionals will be able to let you know if IRAC will need to be involved in any way!

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