Affordability, balance of inventory to demand in Charlottetown cottage market
Charlottetown & Area, PEI
2023 RE/MAX Cottage Trends Report
• Balanced market is expected to persist in the region through 2023. • The foreign buyers ban has decreased interest in the Charlottetown area and by extension, discouraged some potential buyers from engaging in the market. • Interest rates have slowed secondary property sales. Buyers must be more financially secure to own a recreational property than in the past, prompting potential buyers to hold-off on their purchase.
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$292,550
2023 (January-March)
average price
$268,000
2022 (January-March)
+9.2%
Year-Over-Year
-29%
24 unit sales
17 unit sales
Sales stats
market outlook
+5%
2023 Sales Estimate
Average price
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Balanced Market
