Sales Activity in July
The number of homes sold through the MLS® System of the Prince Edward Island Real Estate Association totaled 225 units in July 2025. This was a gain of 5.6% (12 sales) from July 2024. Residential sales haven't hit this level in the month of July in five years.
Home sales were 12.1% above the five-year average and 7.4% above the 10-year average for the month.
New Listings July 2025
The number of new listings saw a gain of 9.5% from July 2024. There were 437 new residential listings in July 2025. This was the largest number of new listings added in the month of July in a decade.
New listings were 14.3% above the five-year average and 19.1% above the 10-year average for the month.
Active Listings
Active residential listings numbered 1,359 units on the market at the end of July, up by 4.3% from the end of July 2024. Active listings haven't been this high in the month of July in more than five years.
Active listings were 29% above the five-year average and 16.6% above the 10-year average for the month.
Inventory is climbing slowly but steadily.
Months of Inventory
Months of inventory numbered 6 at the end of July 2025, down from the 6.1 months recorded at the end of July 2024 and above the long-run average of 5.6 months for this time of year.
The number of months of inventory is the number of months it would take to sell our existing supply of homes at the current rate of sales activity.
Finally the average price of homes on PEI took a dip last month to land at $378,252. That’s down a little more than $25K from last month and about 1.5% from this time last year.
See you next month!