Sales of MLS® listed homes on Prince Edward Island start the year off strong
The number of homes sold through the MLS® System of the Prince Edward Island Real Estate Association totaled 112 units in January 2025. This increased by 7.7% (eight sales) from January 2024.
Home sales were 6.7% below the five-year average and 4.9% above the 10-year average for the month of January.
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 $365,400 in January 2025, a small gain of 3.7% compared to January 2024.
The average price of homes sold in January 2025 was $397,083, up by 5.1% from January 2024.
The dollar value of all home sales in January 2025 was $44.5 million, a gain of 13.2% from the same month in 2024.
The number of new listings was up by 19.5% from January 2024. There were 264 new residential listings in January 2025. This was the largest number of new listings added in the month of January in more than five years.
New listings were 35% above the five-year average and 37% above the 10-year average for the month of January.
Active residential listings numbered 906 units on the market at the end of January, a gain of 9.4% from the end of January 2024. Active listings haven’t been this high in the month of January in more than five years.
Active listings were 33.6% above the five-year average and 7% above the 10-year average for the month of January.
Months of inventory numbered 8.1 at the end of January 2025, up from the 8 months recorded at the end of January 2024 and below the long-run average of 8.8 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
75 St. Peter's Road
Charlottetown, PE
C1A 5N7
Tel: (902) 368-8451
Fax: (902) 894-9487
office@peirea.com
Tim Jackson
