Team Ellis - Royal LePage Prince Edward Realty

06/13/2026

🏡 The headline number from May looks scary. Here's why it isn't.

176 homes sold on PEI in May — down 19.3% from last year, and the slowest May for sales in six years (the only slower May was 2020, during COVID). If that's the only number you saw, you'd think the market's in trouble. It's not.

Here's what's actually going on:
📊 6.6 months of inventory — officially "balanced" territory (4–6 months)

📊 Benchmark price: $383,200, still up 3% year-over-year

📊 Rates holding at 2.25% for the 5th meeting in a row

Translation: sales slowed down, but prices didn't drop and buyers finally have some breathing room. That's a very different story than "the market is crashing."

I broke down what all of this this actually in greater detail on my blog. Check out the link 👇

🔗 https://matthewellis.royallepage.ca/blog/79/PEI+Housing+Market+Update+-+May+2026

Questions about your specific situation? Send me a message, happy to walk

05/28/2026

🏡 OPEN HOUSE THIS SATURDAY! 🏡

Don't miss your chance to tour this stunning 3-bedroom, 3-bathroom home nestled on 2.6 acres of beautiful waterfront land at 56 Bilberry Ln!

Wake up every morning to breathtaking views of Savage Harbour and the ocean beyond — this is waterfront living at its finest.

📍 56 Bilberry Ln
📅 This Saturday
⏰ 1:00 PM – 3:00 PM
💰 Asking $799,000

No appointment needed — just stop by! Tag a friend or family member who's been dreaming of waterfront living. 🔑🌊

🔗 View the full listing: https://zsvc.paragon.ice.com/s/goto/FVN0gmFnQ8k

05/26/2026

There are some properties that just feel like PEI… and 56 Bilberry Lane in Canavoy is one of them.

Set on 2.6 private acres with waterfront views stretching from harbour to ocean, this home offers the kind of setting that’s hard to capture in photos alone. Vaulted ceilings, natural light, character, privacy, and the kind of view that makes morning coffee hit a little differently.

If you’ve been dreaming about PEI waterfront living — or simply want to see what makes this property so special — take a few minutes and watch the full video tour below.

🎥 Watch the full tour here:
https://youtu.be/8YmoGwFLzYM?si=axbGI5HEjq8X4PXV

Questions or curious about a private showing? Reach out anytime.

Join me on a property tour of this exquisite new listing, a 3+ bedr...

05/15/2026

184 homes sold on PEI in April. Benchmark price up 4% from last year. Inventory at 5.7 months — the most balanced this market has been in five years.

If you've been waiting on the sidelines for the picture to clarify before buying — this is about as clear as it's likely to get. Bank of Canada held rates at 2.25% again on April 29. Most forecasters now think the next move is more likely up than down.

Quick question for anyone reading this who's been thinking about buying — what's the one thing still holding you back? Rates? Prices? Down payment? Genuinely curious.

Full April breakdown (every sub-market, where rates are headed) — link in the comments. 👇

05/12/2026

North shore PEI at its best. 🌊 Savage Harbour waterfront — 3 bed, 3 bath, 2.6 acres, and views that don't quit. Offered at $799,000. Send me a message to book a showing.

05/12/2026

🚨🔥New Listing Alert🔥🚨
Imagine waking up to this every morning. ☀️

This north shore property sits on 2.6 acres with 112 feet of Savage Harbour frontage - views of the dunes, the harbour, and the ocean stretching beyond. And you're still less than 30 minutes from Charlottetown.

The home itself is warm and well finished - vaulted ceilings, exposed beams, brick fireplace, updated kitchen, loft, fully developed basement, and a deck that earns its keep all summer long.

Three beds, three baths. Minutes from Crowbush and Morell. Offered at $799,000.

Reach out if you'd like a private showing — happy to chat. 🏡

https://zsvc.paragon.ice.com/s/goto/FVN0gmFnQ8k

04/30/2026

If buying a home on PEI is on your list for 2026 — even loosely — now is a reasonable time to start having the conversation.

Not because you need to rush. You don't.

But because the buyers who feel the least stressed through the process are the ones who started preparing 3–6 months before they were actually ready to make an offer.

That preparation looks like:
→ Getting pre-approved so you know your real budget
→ Understanding the full cost picture before you fall in love with a listing
→ Getting clear on what you actually need (vs. what looks good online)
→ Building a relationship with an agent who knows the local market

None of this costs anything. None of it commits you to anything.

It just means that when the right property shows up — and the right one will eventually show up — you're in a position to move with confidence instead of scrambling.

PEI is still a place where a couple with two modest incomes can realistically own a home. That window isn't permanently open. But it's not closed yet either.

If 2026 is the year you're thinking about making a move, let's talk. I'm at 902-218-1353 — always happy to have a no-pressure conversation about where you stand.

04/28/2026

I put together a free resource for anyone who's thinking about buying their first home on PEI and isn't sure where to start.

It's called the PEI First-Time Buyer Roadmap — and it walks through the process from "am I ready?" all the way to keys in hand. Clear, plain language. No fluff. No sales pitch.

It covers:
✅ How to know if you're financially ready
✅ What mortgage pre-approval actually involves
✅ The full cost picture — down payment and everything else
✅ What to look for (and watch out for) during showings
✅ The programs that can help with your down payment and tax savings
✅ What happens between accepted offer and possession day

I made it because the buyers who come to me most stressed are the ones who didn't know what they didn't know. This gives you the lay of the land before you start.

If you'd like a copy, send me a message here or reach out directly — I'll get it to you.

Text or call 902-218-1353 and I'll send you the Roadmap. No strings attached.

04/25/2026

The question I get asked most by first-time buyers on PEI:

"Should I buy now — or wait?"

And every time, my answer is the same: that's actually the wrong question.

The right question is: "Am I financially ready — and is there a property available that genuinely fits my life?"

Here's why the timing question leads people astray:

Nobody can reliably predict what interest rates or home prices will do in the next 12 months. Anyone who tells you they can is guessing. The buyers who consistently come out ahead aren't the ones who perfectly timed the market — they're the ones who bought when they were financially prepared and found a property that made sense for their actual life.

Waiting because you're nervous is reasonable. Waiting because you're hoping for a dramatic price drop that may not come is a gamble that also costs you in rent every month while you wait.

The buyers who should wait: those who aren't pre-approved, have significant high-interest debt, or haven't defined what they're actually looking for. Fix those things first.

The buyers who are probably ready: stable income, manageable debt, at least 5% saved plus closing costs, and a clear sense of what neighbourhood and property type fits their life.

If you're in that second group, the main thing holding most people back is uncertainty — not circumstance.

If you're not sure which group you're in, that's exactly what I help people figure out. No sales pitch. 902-218-1353.

04/23/2026

Spring on PEI means the market wakes up — and 2026 is no different.

Here's what I'm seeing on the ground right now:

📈 More listings are coming. Sellers who waited out the winter are starting to list. Inventory is gradually improving compared to the tight market of a year ago — which is good news for buyers.

⚡ Well-priced move-in-ready homes still move fast. If a property is correctly priced and in solid condition, it's not sitting. Buyers who are pre-approved and decisive have the advantage.

💬 Negotiating room exists — but selectively. Overpriced listings are sitting. Properties with deferred maintenance or awkward locations have more room. Turnkey homes in desirable areas don't.

🌱 Rural PEI is seeing renewed interest. The work-from-home factor hasn't gone away. Buyers who don't need to commute daily are finding genuinely good value outside the GCA.

The buyers I'm working with right now who are in the best position: pre-approved, clear on their criteria, and not waiting for a perfect moment that probably isn't coming.

The buyers who are struggling: still waiting for prices to drop significantly. That's not what the data suggests is happening.

This is not a market to panic in either direction. It's a market to be prepared and clear-headed in.

If you want a candid read on what's realistic for your situation in this market, I'm easy to reach. 902-218-1353.