Summerside leads P.E.I. in house price increase
CBC
House prices on Prince Edward Island were up 15.3 per cent in the third quarter of 2021 compared to the year before, and up considerably more in P.E.I.'s two cities.
The P.E.I. Real Estate Association released statistics for September on Monday. They track sales on the MLS system.
Overall the report includes the sale of 444 houses on the Island from June to September, at a median price of $340,000.
Prices were up the most in Summerside. The report included the sale of 59 homes in that city, and they sold for a median price of $312,500, which is 35.9 per cent more than in the third quarter of 2020.
In Charlottetown the MLS system recorded 92 sales with a median price of $401,250, up 22.1 per cent over the previous year. The North and South Shore region was the busiest in the province with 105 sales. Prices there were up 24.8 per cent with a median price of $355,000.
Across the province, sales for the quarter were down 25.9 per cent.
While sales were down the supply remains tight by historical standards, although it is larger than it was a year ago.
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