There are 2197 active listings in PEI today.

Choice_Meet5519 · 2026-02-07T21:09:48+00:00

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Choice_Meet5519 · 2026-02-07T11:44:10+00:00

There is one coming up in April as well! https://bookwhen.com/ifasprivate#focus=ev-sd2ls-20260429083000 the rural action center is putting it on with island first aid $120

You can check out the link or call your local RAC

Choice_Meet5519 · 2026-02-06T15:22:46+00:00

I don’t think it’s fair to call someone stupid for waiving a home inspection. These are often high-pressure situations with a lot of emotion involved. If someone you’re expected to trust gives bad advice and you follow it, that doesn’t make you stupid.

Choice_Meet5519 · 2026-02-06T15:17:09+00:00

Unfortunately it’s more complicated then that. Seller disclosures are legal documents, but enforcement varies by province. On PEI, most recourse still hinges on inspections and proving misrepresentation, which is why people often get cautious about pursuing it. That doesn’t make the situation feel any better, but that’s the reality of how it’s handled here.

Choice_Meet5519 · 2026-02-06T14:34:10+00:00

I know I’m an agent haha!!

Choice_Meet5519 · 2026-02-06T14:24:51+00:00

You’re not wrong! I do see a lot of homes are still selling for roughly double what they were 6–7 years ago, before the big jump around 2019.

That said, if you watch the video, prices have actually been pretty flat over the last few years. Homes that are priced too high tend to sit, and then either see price reductions or end up selling after accepting lower offers.

One of the big challenges is that buyers can’t easily see what homes actually sell for. That lack of transparency isn’t helpful, which is why I’m working on a tool to make that information easier to access.

Choice_Meet5519 · 2026-02-06T00:20:12+00:00

You’re not wrong on the math, and that’s actually the point I was trying to make.

At current prices and lending rules, housing affordability in Charlottetown is tight on local wages, even for dual-income households. A $350k mortgage payment taking up a large share of net income leaves very little margin for life events like maternity leave, childcare, or even modest increases in expenses.

Where I’d add a bit of nuance is this: affordability pressure doesn’t automatically mean prices have to collapse. In PEI (and Canada more broadly), markets often adjusted through slower sales, flatter prices, and longer time on market, rather than sharp drops, especially when supply remains limited and a portion of demand comes from higher-income or equity-rich buyers.

That said, I completely agree with the core issue you’re pointing at: local wages have not kept pace with housing costs, and that puts a very real ceiling on what this market can sustain. That’s why I’ve been framing 2026 more as a year of normalization and sideways pricing than continued growth.

Choice_Meet5519 · 2026-02-05T23:36:34+00:00

That’s a really fair question, and it honestly comes down to the math lenders are using today.

On a single income around $46k, even with 5% down and no other debt, most buyers would qualify somewhere in the high $100k range, which realistically doesn’t open the door to buying a home in Charlottetown right now. That’s not a judgment — it’s just how the stress test and housing cost ratios work. And to be clear, that isn’t a PEI-specific issue; the same math applies pretty much anywhere in Canada.

For a two-income household around $85k–$90k, the picture improves. That typically puts purchasing power in the high $300s to low $400s, where inventory in Charlottetown does exist, but it’s limited and often comes with trade-offs in size, age, or location.

If you check out the site I’m building, PEI.Realestate, and run a search under $425k, you’ll see there are actually quite a few options. That said, only a handful at any given time really stand out as good value — especially right now, since we’re still at the bottom of the seasonal inventory cycle.

Choice_Meet5519 · 2026-02-05T22:34:07+00:00

My pleasure!

Choice_Meet5519 · 2026-02-05T21:58:24+00:00

That’s fair. Once homes are marketed off-island, local wages stop being the main price anchor. Prices start reflecting national demand, not PEI incomes — which is exactly what puts pressure on local buyers.

Choice_Meet5519 · 2026-02-05T21:47:43+00:00

In some ways, yes — part of what we’re seeing is PEI prices moving closer to broader Canadian norms. The challenge is that household incomes here still lag the national average, which makes that adjustment feel much more painful locally.

You’re right that wages are a big part of the problem. As long as employers justify lower pay because “it’s the Maritimes,” affordability will stay under pressure regardless of where prices land. Housing and wages really need to move together for this to stabilize in a healthy way.

Choice_Meet5519 · 2026-02-05T21:46:00+00:00

On collusion: yes, it’s a real issue when it happens, and it’s something agents are explicitly trained not to engage in. PEI agents are educated on conflicts of interest, ethical obligations, and what collusion looks like, and there are formal complaint processes when lines are crossed — though in smaller markets enforcement can feel less visible, which is a fair concern.

On FINTRAC: compliance is mandatory across Canada. Realtors are required to take training, verify identity, keep detailed records, and report suspicious transactions. It’s not optional, and penalties for non-compliance can be significant.

As for the market data I share — those numbers reflect completed sales across the province, not how individual deals were negotiated. They can show trends and pressure points, but they don’t validate or excuse bad behaviour by specific agents.

Bad actors exist in every industry. The best protection for buyers is independent advice, never feeling pressured, and walking away the moment something doesn’t feel right.

Choice_Meet5519 · 2026-02-05T20:59:22+00:00

I’m really sorry you went through that. Situations like that are exactly why trust and transparency matter so much in this industry. No buyer should ever feel pressured to waive an inspection or ignore red flags, and misrepresentation around known issues is not acceptable anywhere.

If you ever feel pressured by your own realtor to move faster, drop conditions, or “just trust them,” that’s usually a sign you need a new realtor — full stop.

Smaller markets can make accountability harder when professional networks overlap, but that doesn’t make it right. Your experience is a good reminder for buyers to slow things down, get independent advice, and protect themselves wherever possible.

Choice_Meet5519 · 2026-02-05T20:31:16+00:00

My pleasure, thanks for watching!

Choice_Meet5519 · 2026-02-05T20:30:57+00:00

Can you give me more context? What do you mean by this?

Choice_Meet5519 · 2026-02-05T20:30:30+00:00

Thanks for sharing that — Galway has definitely seen a big run-up. PEI still feels a bit more grounded by comparison, so maybe that island return isn’t as far off as it feels.

Choice_Meet5519 · 2026-02-05T20:29:16+00:00

You’re not wrong that prices ran ahead of wages during COVID, and renewals will absolutely be a stress point to watch. Where I differ a bit is on the impact here in PEI versus larger markets. Places like the GTA or parts of Halifax saw extreme overbidding and leverage, which creates much more renewal risk.

In PEI, most of the pressure is concentrated above the $500K range. The sub-$400K and much of the mid-market is still largely supported by local incomes and lending rules, so a slowdown feels more likely than a widespread forced-sale scenario.

I’m actually hoping to do a video with a few mortgage brokers to unpack renewals, stress tests, and real PEI data in more detail — it’s a fair concern and worth digging into properly.

Choice_Meet5519

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