MLS® home sales on Prince Edward Island decline to slowest July total since 2021; active listings rise for fifth consecutive month
The number of homes sold through the MLS® System of the Prince Edward Island Real Estate Association totaled 181 units in July 2026. This was a notable decrease of 19.2% from July 2025.
Home sales were 7.3% below the five-year average and 12.7% below the 10-year average for the month of July.
On a year-to-date basis, home sales totaled 1,098 units over the first seven months of the year. This was down y 12.6% from the same period in 2025.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite/single-family benchmark price was $388,400 in July 2026, a modest gain of 2.4% compared to July 2025.
The average price of homes sold in July 2026 was $402,099, an increase of 5.6% from July 2025.
The more comprehensive year-to-date average price was $409,136, a small gain of 3.1% from the first seven months of 2025.
The dollar value of all home sales in July 2026 was $72.8 million, a decline of 14.7% from the same month in 2025.
The number of new listings fell 2.5% (11 listings) from July 2025. There were 421 new residential listings in July 2026.
New listings were 6.3% above the five-year average and 13.3% above the 10-year average for the month of July.
Active residential listings numbered 1,373 units on the market at the end of July, nearly unchanged, up only 0.9% (12 listings) from the end of July 2025. Active listings haven’t been this high in the month of July in more than five years.
Active listings were 15.3% above the five-year average and 23.8% above the 10-year average for the month of July.
Months of inventory numbered 7.6 at the end of July 2026, up from the 6.1 months recorded at the end of July 2025 and above the long-run average of 5.4 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.
BOARD & ASSOCIATION INFORMATION
The Prince Edward Island Real Estate Association (PEIREA) was incorporated in 1964 under the name of the PEI Real Estate Brokers Association. In 1975, the name of the organization was changed to the PEI Real Estate Association. The Association is governed by a Board of Directors which consists of twelve REALTORS® and the Association's Executive Officer.
All Members of the Association are also members in good standing of the Canadian Real Estate Association and are specifically trained to help buyers and sellers with all their real estate needs. They adhere to the REALTOR® Code of Ethics and conduct their business in accordance with the Standards of Business Practice as adopted by the Canadian Real Estate Association.
PRINCE EDWARD ISLAND REAL ESTATE ASSOCIATION
For more information, please contact:
Prince Edward Island Real Estate Association
3 Lower Malpeque Rd, Unit L100
Charlottetown, PE
C1E 1R4
Tel: (902) 368-8451
Fax: (902) 894-9487
office@peirea.com
Jamie Pound
