Prince Edward Island (PEI)  is known for its beautiful landscapes, friendly communities, and a relatively high quality of life. Here's a breakdown of what you can expect in terms of affordability, quality of life, lifestyle opportunities, economy, and safety:

Affordability

PEI is often regarded as more affordable compared to other Canadian provinces like Ontario or British Columbia. Housing costs, in particular, are generally lower, making it attractive for both families and retirees. However, the cost of living can still vary, especially in rural versus urban areas. Groceries, transportation, and utilities tend to be fairly priced, although some imported goods can be more expensive due to the island's location.

Quality of Life

PEI offers a…

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The number of homes sold through the MLS® System of the Prince Edward Island Real Estate Association totaled 119 units in December 2024. This was up by 12.3% (13 sales) from December 2023. Home sales were 2.1% below the five-year average and 2.8% above the 10-year average for the month of December.

On an annual basis, home sales totaled 2,028 units over the course of 2024. This was an increase of 8.7% from 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 $370,300 in December 2024, a moderate gain of 4.7% compared to December 2023.

The average price of homes sold in December 2024 was $404,741, a…

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Becoming a homeowner can be very exciting, but it’s not always the best decision for everyone. Before buying a home such as a house or a condo, make sure you consider all costs. According to Canada Mortgage and Housing Corporation (CMHC), your monthly housing costs should not be more than about 39% of your gross (before deductions) monthly income. These costs include your mortgage payments, property taxes and heat costs. Your entire monthly debt load should not be more than 44% of your gross monthly income. This includes your mortgage payments and all your other debts, such as loan or credit card payments.

This calculator helps you determine whether or not you can qualify for a home mortgage based on income and expenses.

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https://www.realtor.ca/blog/buying-a-home-tips-for-home-buyers/31601/1363?utm_source=linktocopy&utm_medium=social-organic&utm_campaign=socialsharenonlisting

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Residential sales activity in Prince Edward Island rose in the first quarter of 2024 compared to the first quarter of 2023. Residential property sales numbered 363 units in the first quarter of 2024, accelerating 13.1% compared to the same quarter in 2023. Single detached home sales numbered 256 units in the first quarter of 2024, rising 9.9% compared to the same quarter in 2023. The market for single detached homes was tightest in the range $300K-$350K, where demand was strongest relative to supply. Single detached homes in the price range $300K-$350K spent the least amount of time on market prior to selling in the first quarter. Months of inventory for single detached homes numbered 5.7 at the end of the first quarter of 2024, up slightly from…

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Solar eclipse

Did you know that viewing this once-in-a- lifetime event of the solar eclipse can be viewed in Prince Edward Island as the path of totality will be passing over western PEI and makes our province one of the best viewing locations. What is a solar eclipse you ask. A total solar eclipse happens when the moon passes between the Earth and the sun completely blocking the face of the sun. The solar eclipse will happen on April 8th. While all of PEI will experience the eclipse, only the town of Tignish and area will experience totality.  The eclipse which will be visible over western PEI is expected to last approximately 3 mins 15 seconds and will begin about 3:30 pm with the peak about 4:35 pm. 

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On the east coast of Canada,  you will find the small but mighty city of Summerside  located on the island of Prince Edward Island. After 6 years of construction Summerside's Sunbank which is situated on an 80 acre solar farm at a cost of $69-million with 48,000 solar panels, is now operational and will produce 62%  of Summerside's power from renewable energy produced locally. In 2016, while at an International Trade event hosted by the Federal Government, Summerside and Samsung SRE came out of the event with a mutual collaborative agreement with Summerside's  innovative ideas and Samsung's global expertise in renewable energy to lead the country and make Summerside a champion of renewable energy and a champion Summerside is!

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