September brought a welcome pickup in activity across Prince Edward Island. According to the Prince Edward Island Real Estate Association (via CREA), 201 homes sold through the MLS® System—up 6.9% from September 2025 and the strongest September sales total since 2021. Sales also ran 12% above the five-year average for the month.
Year-to-date, 1,484 homes have sold through the first nine months of 2026, still 9.7% below the same period last year. The September rebound is a positive signal heading into fall, even as overall 2026 activity remains more measured than the hotter years of the recent past.
Prices Remain Stable
The MLS® Home Price Index (HPI) composite/single-family benchmark price was $377,900 in September—nearly unchanged, up just 0.5% year over year. The average price of homes that sold during the month was $409,925, a modest 1.4% gain from September 2025. The year-to-date average sits at $410,668, up 3.1% from the first nine months of 2025.
Dollar volume reached $82.4 million in September, an 8.4% increase and a new record for the month. These numbers show a market that has settled into a more sustainable range rather than seeing sharp declines.
Inventory and Choice for Buyers
New listings totaled 341 in September—the highest number ever recorded for the month and up 4.9% year over year. Active residential listings stood at 1,360 at month-end, the highest September inventory level in a decade. Months of inventory were 6.8, down slightly from 7.2 a year earlier but still above the long-run average of about 5.7 months for this time of year.
In practical terms, buyers continue to have more selection and negotiating room than they did in the peak years, while well-priced and well-presented homes are still moving. Conditions vary by community, price point, and property type—entry-level and move-up homes in stronger pockets continue to see solid interest.
What This Means Locally
On the North Shore and across the Summerside–Kensington corridor, the same broader trends apply, with the added advantage of generally more accessible price points compared with Charlottetown and the eastern side of the Island. Coastal and rural properties remain popular for both primary homes and secondary/lifestyle buyers. With inventory elevated province-wide, serious buyers who are pre-approved and ready to move have good options right now. Sellers who price realistically relative to current comparable sales and prepare their homes well are finding buyers.
The Bank of Canada has held rates steady, supporting affordability relative to the higher-rate period earlier in the cycle. Looking ahead, TD Economics has projected modest price growth for PEI existing homes through the rest of 2026, consistent with the stable-to-slightly-positive trend we’re seeing in the benchmark data.
Bottom line: September showed healthier sales activity, stable prices, and continued choice for buyers. It’s a balanced, price-sensitive market—neither overheated nor in freefall. If you’re thinking of buying or selling on the North Shore, in Summerside, Kensington, or elsewhere on PEI, local conditions and recent comparable sales matter more than the provincial averages.
I’m happy to walk through current listings, recent sales in your target area, or a clear pricing strategy for your home. Reach out anytime.
Jodi Bernard
Century 21 Northumberland
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