May 2026 Market Report: Prince Edward County & Region

Published May 15, 2026

Buyers showed up in April.

After months of slow movement, the spring market delivered its first clear signal: Prince Edward County recorded 33 home sales in April, up 14% from the same time last year. After a winter of grinding through inventory, that's the kind of number that changes the conversation.

The average sale price came in at $644,129, with a median of $518,800. Year-over-year averages look soft against April 2025's $887,993, but the median is the steadier read, and it's holding. Year-to-date, 78 homes have sold across the County at an average of $631,863.

Inventory in PEC remains elevated. There are 309 active listings on the market and 9.4 months of inventory, still a buyer's market, but materially tighter than March's 14.9. Homes that sold did so at 96% of asking and spent an average of 55 days on the market. The pattern is clear: well-priced homes are moving. Aspirational pricing is sitting.

Across the region, the story shifts. In Hastings County, 198 homes sold in April at an average of $548,797, Belleville is running 4.7 months of inventory and Quinte West 3.8, both closer to balanced markets where well-presented homes move quickly. Northumberland County recorded 103 sales at an average of $714,267, but the numbers split sharply by town: Cobourg and Port Hope are turning over fast at 44 and 21 days on market, while Brighton remains soft at 9.0 months of inventory and 110 days on the market.

For buyers willing to look beyond the County, those neighbouring markets each tell a different story. For sellers, the message is consistent across the region: price-to-market wins.

The spring window is open right now. Historically, May and June are the strongest months of the year for both buyers and sellers, and with the Bank of Canada paused on rate cuts and fixed mortgage rates ticking back up, the cost-of-borrowing tailwind that helped Q1 buyers may be losing room.

Questions about what this market looks like for your situation? Happy to talk it through. No pressure, no pitch.

April 2026 by the numbers

Average sale price by area, rolling 13 months. Source: Central Lakes Association of REALTORS® monthly statistics.

Interest rates

The Bank of Canada held its overnight rate at 2.25% at its April 29 announcement, marking the fourth straight pause in its rate cycle. Prime sits at 4.45%, and the next BoC decision is scheduled for June 10.

The picture has shifted in the last few weeks. Fixed mortgage rates have ticked up 25 to 40 basis points across most lenders on the back of rising bond yields, while variable rates have held steady. The easy direction on rates may be behind us for now.

Where things stand today through the broker channel:

• 5-year fixed: 3.94%–4.89%
• 3-year fixed: 4.39%–4.69%
• 5-year variable: 3.35%–4.24%

If your mortgage is coming up for renewal, don't auto-renew with your current lender. Brokers are consistently finding rates well below posted bank offers, and over a five-year term the spread can be a couple hundred dollars a month. Happy to connect you with one of my trusted advisers if you'd like a referral.

What this means for you

If you're buying

Three months ago, the market was waiting on something. In April, it found it.

Sales in Prince Edward County rose 14% year-over-year, the first clear signal that demand has returned to this region. That window is still open, but it's narrower than it was thirty days ago. Buyers who acted in March and April did so with less competition and more negotiating room. As sales activity builds, that leverage shifts.

Here is what still favours buyers right now:

• Inventory is up. 309 active listings in PEC means real choice, not just what's left from a slow winter.
• Sale-to-list ratio is 96%. Sellers are still accepting offers below asking in many transactions.
• Average days on market is 55. There is still time to be thoughtful, not rushed.
• Borrowing conditions remain favourable, but the tailwind is fading. The Bank of Canada has paused rate cuts and fixed mortgage rates have started ticking back up. Variable rates (best around 3.35%) are still on the table, but waiting on further cuts looks less likely than it did in January.

If you're flexible on location, neighbouring markets behave differently. Cobourg and Port Hope are turning over fast, homes sold in an average of 44 and 21 days respectively in April. Quinte West and Belleville are closer to balanced. Brighton and the more rural communities are slower and offer more negotiation room.

What's changing in PEC: with sales picking up, leverage is gradually shifting back toward sellers, especially on well-priced, move-in-ready properties. Buyers who keep waiting may find fewer options and more competition by summer.

The best value usually shows up just before everyone agrees the bottom is in.

If you're selling

April's numbers gave sellers something to point to: buyers are back, and they are completing deals.

Thirty-three homes sold in Prince Edward County last month at a sale-to-list ratio of 96% and an average of 55 days on the market. After a slow winter, that is the activity sellers have been waiting on. But the result is not evenly distributed, and that's the part worth paying attention to.

The homes selling are priced for today's market. The ones sitting, many of them for 90, 120, 180+ days, are not. With 9.4 months of inventory still on the books in the County, a buyer who passes on your listing has more than three hundred other options to consider.

What's working right now:

• Properties priced accurately for today's market are moving, sometimes attracting more than one offer.
• Turnkey homes in the $500K–$700K range are seeing the most consistent activity across the region.
• Waterfront and income-producing properties are attracting buyers who understand the long-term value of the County.

What's not working:

• Aspirational pricing. In a 9.4-month inventory market, an overpriced listing teaches buyers why everything else is better value.
• Properties with deferred maintenance priced as though the work is already done.

If you're outside the County, the numbers tell different stories. Belleville and Quinte West sellers are operating in tighter markets (4.7 and 3.8 months of inventory) where well-presented homes are moving quickly. Brighton sellers are in a softer market with 9.0 months of inventory and average days on market over 100. In every case, the formula is the same: right price, right presentation.

The spring selling window is open. Now is the time to have the conversation if you're considering listing.

Read the latest market update