Skip to main content

Prince Edward Island Housing Market: Home Prices | September 2026

Updated

The Prince Edward Island Real Estate Association reports a single set of island-wide figures each month. Its MLS® Home Price Index benchmark is described as a composite/single-family index, so the overall and single-family benchmarks are one series on the Island. The Canadian housing market overview explains how a benchmark and an average differ and sets PEI beside the other provinces.

PEI home prices, September 2026

PEI’s benchmark price was $377,900 (0.5% against the same month a year earlier), and the month’s sales averaged $409,925 (1.4%). Both measures were higher than a year earlier: the typical home the index prices was nearly unchanged, and the average sale price rose faster than the benchmark, leaving the average 8% above the benchmark. From January through September 2026 the average was $410,668, 3.1% higher than a year before.

Sales, listings and months of inventory

MeasureSeptember 2026Change on a year earlier
Sales2016.9%
New listings3414.9%
Active listings1,3600.1%
Months of inventory6.87.2 a year earlier

PEI Real Estate Association, September 2026.

The association said September 2026’s new listings were the most ever added in that month, and year-to-date sales of 1,484 were 9.7% behind the previous year. Sales and new listings both rose on the year, and inventory stood at 6.8 months of sales, above the long-run average of 5.7 for the time of year. That is above the 6.4-month level CREA treats as a buyer’s market, and 2.5 more months than Newfoundland and Labrador had in September 2026. Sales were 58.9% of new listings by our count. On a market this size one month can swing a lot (about these measures).

Real property transfer tax

Instead of brackets, PEI charges a flat 1% of the greater of the price and the property’s assessed value when the deed is registered. On a home at the Island’s average price that is $4,099. Two exemptions in the Act matter to buyers: a first-time buyer who files a declaration and lives in the home as a principal residence for at least 183 consecutive days pays no tax at all, and no tax is due on any transfer where the greater of price and assessment is $30,000 or less (PEI calculator). A non-resident (or any corporation) whose land holdings would exceed 5 acres or 165 feet of shore frontage must also apply under the Lands Protection Act.

Down payment and income needed

The Island’s average price is under $500,000, so 5% down is enough: $20,496, with $15,577 of mortgage insurance added to the loan. Qualifying then takes roughly $95,200 of household income (method), or $88,100 at the benchmark price. PEI’s median household income in the 2021 Census was $73,500 for 2020 (Charlottetown’s, $76,500), which puts the average-price home 30% above the provincial median and the benchmark home 20% above it. Island programs for first purchases are in the PEI first-time home buyer guide, and the Prince Edward Island mortgage affordability calculator runs other prices.

🏠

Compare mortgage rates from 30+ lenders

Homewise searches options from over 30 banks and lenders and negotiates for you, free of charge. The online application takes about 5 minutes.

Get Started →

Disclosure: Homewise is a WealthNorth referral partner. WealthNorth may receive a referral fee if you use Homewise through this link. This does not affect your rate or cost.

Sources

The figures and rules on this page come from these sources, last checked against them between September 24, 2026 and October 26, 2026. How we check facts.