Modest price gains in Charlottetown keep focus on affordability: Royal LePage

Standard two-storey house prices didn’t move in the first quarter of this year compared to the same time last year, averaging $195,000. Condos rose 0.8% to $123,000 and detached bungalows were up 1.9% to an average selling price of $163,000.

Nationwide, the national average price rose 4% for a condo, 3.5% for a two-storey home, and 4.3% for a bungalow, according to the Royal LePage survey. But Ken Peters, broker and owner of Royal LePage Peters & Lank Realty, said the lesser price gains in Charlottetown would continue to be a draw to buyers this year.

“Affordability, due to low interest rates, has kept buyers coming to the market,” he said. “In addition, some buyers are leveraging this increased purchasing power to acquire more upscale properties.”

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