Real Estate Market Update | Prince Edward County, April 2020

As we move into the warmer weather, and the much anticipated gradual re-opening of the Province, and as people become accustomed to operating within the altered environment following the onset of COVID-19, sales and real estate activity are likely to pick up, though in staged measure.



Underlying market fundamentals of strong demand and tight market conditions will ultimately re-assert their influence. But in addition, and ironically, other factors directly resulting from the pandemic, may actually further buoy market demand, and contribute to an even greater interest in County real estate. This should help counteract some of the negative economic impacts stemming from the virus and consequent shutdowns. First, with the increased emphasis on social distancing and self-isolating for health and wellbeing purposes, many may revisit urban living decisions and priorities, and choose instead to settle on a home that reflects healthy, clean and retreat-like living. Further facilitating that trend is the fact that in coping with the advent of the pandemic and business shutdowns, many have become used to, and even more comfortable with working remotely, thus further loosening the ties with their traditional bricks and mortar workplace. This development may liberate many potential homeowners to live further afield, and purchase properties where they would prefer to spend more of their time, and take advantage of potential cost savings and lifestyle advantages that the County has to offer.