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New property listed in Victoria West, PEI

I have listed a new property at 11531 RTE 11 in Victoria West. See details here

Own a piece of PEI History! Nestled on a lovely, treed lot with distant water view, this cozy two bedroom, single level home was once a one room schoolhouse. Originally converted to a seasonal cottage, this home has been lovingly upgraded for year round living over the past four years. Renovations started with upgraded insulation, R40 blown in the attic, R20 blown in the walls and R20 on the foundation. All this, combined with a new heat pump , electric heaters, and a WETT certified wood stove, make this a warm winter retreat. New roof shingles, gutters, downspouts, windows, steel doors as well as screen doors and a side deck for entertaining. The deep drilled well has a new liner, pressure tank, and lines. The electrical panel has been upgraded to 100 amp service. Inside the kitchen and bathroom both have new fixtures, and a brand new corner shower has been added. New appliances make your household chores easy, and hardwood floors add to the warmth of the space. This property includes two new outbuildings that are professionally built and services with electricity, as well as another newer building and two woodsheds. A wheelchair ramp to the side door makes this singe level home easily accessible. Imagine yourself enjoying this historic property for years to come. This property is sold where is, as is. (id:2493)

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PEI Market Report for Sept 2024

Prince Edward Island Real Estate Association reports stable MLS® home sales in September.

The number of homes sold through the MLS® System of the Prince Edward Island Real Estate Association totaled 195 units in September 2024. This was a moderate gain of 9.6% from September 2023.

Home sales were 1.2% below the five-year average and 1.3% below the 10-year average Herfor the month of September. On a year-to-date basis, home sales totaled 1,526 units over the first nine months of the year. This increased by 4.5% from the same period in 2023.

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 $372,200 in September 2024, essentially unchanged, up just 0.3% compared to September 2023. The average price of homes sold in September 2024 was $387,436, a modest gain of 1.4% from September 2023. The more comprehensive year-to-date average price was $386,088, nearly unchanged, up only 0.3% from the first nine months of 2023.

The number of new listings saw a slight reduction of 0.7% from September 2023. There were 301 new residential listings in September 2024. New listings were 1.8% above the five-year average and 5.5% above the 10-year average for the month of September. Active residential listings numbered 1,266 units on the market at the end of September, increasing by 21% from the end of September 2023. Active listings haven't been this high in the month of September in more than five years. Active listings were 33.3% above the five-year average and 3.9% above the 10-year average for the month of September

Months of inventory numbered 6.5 at the end of September 2024, up from the 5.9 months recorded at the end of September 2023 and above the long-run average of 6.4 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.

Source: The Canadian Real Estate Association

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