PEI’s real estate market continues to thrive despite ongoing COVID19 Pandemic
January 2021 was another record month for the PEI real estate market. As we have seen in recent months, lower than average new listings coupled with increased buyer demand creates a highly competitive market for potential buyers. Last month, despite a record number of homes selling the lack of new inventory was significantly lower than previous January’s. There continues to be significant competition in popular areas across all price points and new listings do not remain on the market for long. The number of active listings across PEI last month dropped to levels not seen since 2005. High demand has continued to help drive property values and the average sale price for a detached residence across PEI in January was $300, 538
If you are looking to sell a property on PEI, now is a great time as sale prices across the Island are at an all time high!
If you are looking to purchase property on PEI, it’s time to link up with a REALTOR that can help you navigate a great deal.