CMHC Housing Market Update

180308 — Tue, 06 Oct 2009 13:39:00 GMT

We recently attended a presentation on the PEI Housing Market so far in 2009.

Some of the highlights included:

Housing starts are down 2% so far in 2009

Single housing starts are down 30% so far in 2009

Multiple starts are up by 62%. This increase is largely in apartment buildings.

The average price of a single detached home in Charlottetown based on numbers from January to June has increased 10%. It has gone from $206,281 to $227,006.

MLS sales are down 2%.

Average days for a house on the market in Charlottetown has gone up from 76 days to 86 days.

Forecast for 2010:

MLS sales to rise by 4.4%

Average MLS sales price to increase by 2.6%

Housing starts to remain the same with an 11.1% increase in single starts and a 14.3% decline in multiple starts.

If you are interested in a copy of the full report in PDF, please go to my CONTACT page and send me a request.

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CMHC Housing Market Update