Prince Edward Island home sales dip as August new listings reach a historical high
The number of homes sold through the MLS® System of the Prince Edward Island Real Estate Association totaled 188 units in August 2026. This was a moderate decrease of 5.5% (11 sales) from August 2025.
Home sales were 5.4% below the five-year average and 15.7% below the 10-year average for the month of August.
On a year-to-date basis, home sales totaled 1,286 units over the first eight months of the year. This was a decline of 11.6% 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 $372,800 in August 2026, a small reduction of 1.3% compared to August 2025.
The average price of homes sold in August 2026 was $420,819, a gain of 5% from August 2025.
The more comprehensive year-to-date average price was $410,756, up modestly by 3.3% from the first eight months of 2025.
The dollar value of all home sales in August 2026 was $79.1 million, essentially unchanged, down just 0.8% from the same month in 2025.
The number of new listings saw a moderate gain of 7.5% from August 2025. There were 360 new residential listings in August 2026. This was also the largest number of new listings added in the month of August in history.
New listings were 3.9% above the five-year average and 5.3% above the 10-year average for the month of August.
Active residential listings numbered 1,384 units on the market at the end of August, increasing by 1.9% from the end of August 2025. Active listings haven’t been this high in the month of August in a decade.
Active listings were 14.1% above the five-year average and 24.2% above the 10-year average for the month of August.
Months of inventory numbered 7.4 at the end of August 2026, up from the 6.8 months recorded at the end of August 2025 and above the long-run average of 5.1 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
