Sur­vey shows sta­ble prices

Sec­ond quar­ter fig­ures re­leased in re­port

The Guardian (Charlottetown) - - BUSINESS -

There was lit­tle change in the year-to-year hous­ing prices sur­vey and forecast re­leased Tues­day by Royal LePage.

The av­er­age price of stan­dard two-storey homes rose by one per cent to $207,000 in the sec­ond quar­ter of 2015 com­pared to the same time­frame in 2014. De­tached bun­ga­lows in­creased by 0.6 per cent to $174,000 while stan­dard con­do­mini­ums ex­pe­ri­enced no price ap­pre­ci­a­tion selling for an av­er­age of $130,000.

“Char­lot­te­town has had a sta­ble hous­ing mar­ket with only mod­est price ap­pre­ci­a­tion over the same pe­riod last year,” said Ken Peters, Royal LePage Peters and Lank Realty Inc. pres­i­dent. “Unit sales were slower this quar­ter than they his­tor­i­cally have been, but a lot of that had to do with the ex­tended win­ter we had in At­lantic Canada.”

Peters said the mar­ket is start­ing to pick up on the Is­land, par­tic­u­larly out­side of Char­lot­te­town.

“Even with the in­creased ac­tiv­ity it still re­mains a buy­ers’ mar­ket with lots of in­ven­tory avail­able,” he said.

Peters fore­casted a slight in­crease in home prices for 2015. He pointed to the amount of prod­uct avail­able on the mar­ket as the main rea­son av­er­age prices will stay fairly con­sis­tent.

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