The Prince Edward County real estate market currently has an average “house sold price” of $920,000, that’s a 55% increase from the 2021 average sold price. The average listing lasts 24 days on the market with a selling-to-listing price ratio 98%.

This is one of Ontario’s fastest-growing real estate markets and for good reason.

With its proximity to Toronto, Ottawa, excellent schools, Ontario’s newest wine region, and a plethora of outdoor activities, there’s something for everyone in PEC.

There were a total of 809 building permits issued in Prince Edward County during 2022 at a value of $1,810,000 million dollars in revenue. That’s a 3% increase over last year’s 785 building permits issued.

As I said…fast growing!

So if you’re thinking about buying or selling real estate in Prince Edward County, let’s look at what you can expect financially.

Recently Sold Homes in Prince Edward County

Recently sold homes in Prince Edward County have been selling for an average price of $900,000.

The most expensive, non-waterfront property that sold was a three-bedroom house located on Wilson Road for $2,300,000 just off county road 1.

The least expensive home sold in Prince Edward County was a 4-bedroom house in Consecon for $242,000. From what I can see it’s a major fixer-upper!

The majority of the sales have been for single-family detached houses followed by condominiums.

So far this year there have been 22% more sales than this time last year with the average price per square foot rising from approx. $254 to $312.

The market is already seeing some small decline with the rise of interest rates.

Prices of housing have started to come down although the seller’s market is expected to remain strong for the foreseeable future as buyers continue to look for affordable properties outside of the city.

Picton Average House Price

As of October 2022, the average house price in Picton is $977,500. That’s a whopping 62% increase from this time last year.

This means more residents in Picton are listing their houses for sale. Below is a graph showing “Inventory” meaning available housing for sale.

The “Sales” show how many houses have sold by the month in Picton. As you can see with the rise of the interest rates the a slight project decline in house sales.

Waterfront Property Prince Edward County

The lowest-priced waterfront property sold in Carrying Place for 1,200,000 in Aug 2022.

Here is an example of a simple 3-bedroom house sitting on a lot that’s 75 x 200.00 feet in Carrying Place.

Waterfront Cottages for Sale in Prince Edward County

Inexpensive Waterfront Cottages for Sale in Prince Edward County are far a few these days.

Keep in mind that cottages situated on some of the most beautiful and pristine shorelines of Lake Ontario will be expensive.

The county is home to a wide variety of cottages, from cozy one-bedroom bungalows to sprawling multi-million dollar estates.

There is exactly 527 km of shoreline in Prince Edward County. There’s no shortage of beautiful cottages to choose from.

The average listing price for a small cottage around the waterfront will run you around 400K. At this price, you can expect this cottage to be in a campground or resort-style summer village with Maintenance fees of around $600 a month.

The number of homes sold has also increased, with over 3,000 homes being sold in the past 12 months.

Prince Edward County is a popular destination for retirees and families, and its real estate market is sure to continue to grow in the coming years.

If you’re thinking about buying a home in Prince Edward County, now is a great time to do so.

My Last Two Cents

Another thing to consider when looking for a new home is quality of life. Do you want to be in the city or the country?

In Prince Edward County, you can have both. This area has some of the best wineries in Ontario, and if you’re a foodie, there are plenty of farm-to-table restaurants to enjoy.

See this article called foodies guide to Prince Edward County.

See this article about the History and Charm of Prince Edward County.

The Prince Edward County real estate listings may seem high priced but in fact, they are below the Provine average.

Canadian real estate association always recommends hiring professional services to take advantage of the cooperative selling system when putting the property on the market.

This means that buyers and sellers can explore a combined system of listings based on their individual search criteria, such as price range and area.

In addition, professionals can help individuals understand their target market, use the latest technology to properly promote the property, and find ways to add value in order to maximize the sale price.

Utilizing a professional saves time, energy, and money in the long run when selling real estate.

The real estate market here is booming, so whether you’re looking to buy or sell, now is a great time to do it.

If you’re coming from Toronto check out this article about utilizing a day trip to PEC.

Leave a comment below letting us know your thoughts on Prince Edward County real estate.