Charlottetown home prices up
Charlottetown home prices are up slightly over last year, according to a Royal LePage report looking at sales from October to December.
4TH quarter home prices in Charlottetown
Bungalow: $172,000
Two-storey home: $205,000
Condominium: $127,000
The price of an average detached bungalow was up 2.4 per cent and a standard two-storey home up 2.5 per cent. Condominium prices were not up as much, with a one-point-six per cent increase.
Ken Peters of Peters and Lank Realty believes continuing low-interest rates and the coming of the HST to P.E.I are fueling the market. He's seeing a lot of first-time buyers. Older homeowners, he said, are downsizing into condominiums.
While the prices were up, Charlottetown's market was slightly weaker when compared to house prices nationwide. Nationally, home prices rose between two and four per cent.