Don Murphy is your Prince County Realtor

Don serves Alberton, O'Leary, Tignish and surrounding areas as well as Prince County including all points west of Summerside. If you are thinking of buying or selling a home or seeking a vacation property, if you have questions or concerns, give me a call. We can talk about the process.

FEATURED HOMES & PROPERTIES

My featured homes and properties include some of the best deals on Prince County homes and properties as well as other PEI real estate. Check back as new properties are added here daily!

OR CHOOSE ONE OF THESE CATEGORIES AND SEE ALL OFFERINGS ON THE PEI REAL ESTATE MARKET!. 

Centurion Award Winner 2016

#23 in units SOLD in Canada first 6 months of 2017

Don Murphy and the PEI real estate market – a winning combination
PEI is an island province located 13 km off the east coast of the mainland and connected to New Brunswick by the Confederation Bridge. PEI has a lengthy coastline and therefore PEI real estate listings are frequently waterfront or waterview properties. The PEI real estate market is characterized by less spectacular gains than other “hotter” markets but affords property owners a stable, secure return as it is also not so vulnerable to rapid drops in value. PEI real estate also provides a platform for the first time property buyer to enter the market as PEI real estate prices are considerably lower than most other parts of the country.
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16 Beach Road Miminegash C0B1S0

16 Beach Road
Miminegash C0B1S0

2 bedrooms
$ 69,900

CENTURY 21 NORTHUMBERLAND REALTY
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37700 Western  Road Woodstock C0B1V0

37700 Western Road
Woodstock C0B1V0

bedrooms
$ 199,900

CENTURY 21 NORTHUMBERLAND REALTY
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1064 Centerline Road Alma C0B1K0

1064 Centerline Road
Alma C0B1K0

6 bedrooms
$ 349,000

CENTURY 21 NORTHUMBERLAND REALTY
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189 Marchbank Road Woodvale C0B1K0

189 Marchbank Road
Woodvale C0B1K0

2 bedrooms
$ 114,900

CENTURY 21 NORTHUMBERLAND REALTY
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58 Gaspe Road O

58 Gaspe Road
O'Leary C0B1V0

3 bedrooms
$ 79,900

CENTURY 21 NORTHUMBERLAND REALTY
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211 Harbourview Drive Northport C0B1B0

211 Harbourview Drive
Northport C0B1B0

1 bedrooms
$ 99,500

CENTURY 21 NORTHUMBERLAND REALTY
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36 MacDonalds Shore Road West Point C0B1V0

36 MacDonalds Shore Road
West Point C0B1V0

1 bedrooms
$ 69,900

CENTURY 21 NORTHUMBERLAND REALTY
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21 Maple Street O

21 Maple Street
O'Leary C0B1V0

5 bedrooms
$ 127,900

CENTURY 21 NORTHUMBERLAND REALTY
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15596 Route 12 Kildare C0B1B0

15596 Route 12
Kildare C0B1B0

4 bedrooms
$ 79,900

CENTURY 21 NORTHUMBERLAND REALTY
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Haliburton Road Springfield West C0B1V0

Haliburton Road
Springfield West C0B1V0

0 bedrooms
$ 26,900

CENTURY 21 NORTHUMBERLAND REALTY
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637 Duvar Road Duvar C0B1E0

637 Duvar Road
Duvar C0B1E0

3 bedrooms
$ 84,900

CENTURY 21 NORTHUMBERLAND REALTY
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9725 Route 14 Roseville C0B1K0

9725 Route 14
Roseville C0B1K0

5 bedrooms
$ 189,900

CENTURY 21 NORTHUMBERLAND REALTY
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156 Hogan  Road Christopher Cross C0B2B0

156 Hogan Road
Christopher Cross C0B2B0

2 bedrooms
$ 329,000

CENTURY 21 NORTHUMBERLAND REALTY
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386 MAIN Street Alberton C0B1B0

386 MAIN Street
Alberton C0B1B0

3 bedrooms
$ 79,900

CENTURY 21 NORTHUMBERLAND REALTY
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15 Chestnut Avenue O

15 Chestnut Avenue
O'Leary C0B1V0

3 bedrooms
$ 35,000

CENTURY 21 NORTHUMBERLAND REALTY
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1847 Route 152 Montrose C0B1B0

1847 Route 152
Montrose C0B1B0

3 bedrooms
$ 395,000

CENTURY 21 NORTHUMBERLAND REALTY
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1394 Route 152 Huntley C0B1B0

1394 Route 152
Huntley C0B1B0

4 bedrooms
$ 169,500

CENTURY 21 NORTHUMBERLAND REALTY
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33 Kent Street O

33 Kent Street
O'Leary C0B1V0

3 bedrooms
$ 79,500

CENTURY 21 NORTHUMBERLAND REALTY
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1510 BUCHANAN Road Mount Royal C0B1V0

1510 BUCHANAN Road
Mount Royal C0B1V0

3 bedrooms
$ 59,900

CENTURY 21 NORTHUMBERLAND REALTY
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1200 Route 152 Huntley C0B1B0

1200 Route 152
Huntley C0B1B0

4 bedrooms
$ 159,000

CENTURY 21 NORTHUMBERLAND REALTY
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468 Mill Road Fortune Cove C0B1V0

468 Mill Road
Fortune Cove C0B1V0

3 bedrooms
$ 69,900

CENTURY 21 NORTHUMBERLAND REALTY
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33 North Street N O

33 North Street N
O'Leary C0B1V0

3 bedrooms
$ 95,900

CENTURY 21 NORTHUMBERLAND REALTY
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176 LYMAN LEARD Cascumpec C0B1B0

176 LYMAN LEARD
Cascumpec C0B1B0

2 bedrooms
$ 92,500

CENTURY 21 NORTHUMBERLAND REALTY
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80 CHAISSON Road St. Edward C0B1Z0

80 CHAISSON Road
St. Edward C0B1Z0

2 bedrooms
$ 69,900

CENTURY 21 NORTHUMBERLAND REALTY
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59 MARWOOD Huntley C0B1B0

59 MARWOOD
Huntley C0B1B0

3 bedrooms
$ 79,900

CENTURY 21 NORTHUMBERLAND REALTY
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2331 UNION Road Montrose C0B1B0

2331 UNION Road
Montrose C0B1B0

3 bedrooms
$ 89,900

CENTURY 21 NORTHUMBERLAND REALTY
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176 LYMAN LEARD Cascumpec C0B1B0

176 LYMAN LEARD
Cascumpec C0B1B0

2 bedrooms
$ 92,500

CENTURY 21 NORTHUMBERLAND REALTY
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591 MAIN Street O

591 MAIN Street
O'Leary C0B1V0

3 bedrooms
$ 84,900

CENTURY 21 NORTHUMBERLAND REALTY
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3600 OLEARY Road Springfield West C0B1V0

3600 OLEARY Road
Springfield West C0B1V0

2 bedrooms
$ 99,000

CENTURY 21 NORTHUMBERLAND REALTY

PEI REAL ESTATE ARTICLES

Real Estate TV is here! With it comes a plethora of shows designed to help the real estate buyer and especially the first time real estate buyer to navigate the obstacles of entering the world of home ownership.

The process of making the single biggest purchase of your life can be daunting one. Certainly even a PEI real estate purchase still requires that you go through the same steps as if you were buying a more expensive property in Toronto. The first step Don recommmends is securing a pre-approved mortgage. This means that your bank or financial institution has looked at your finances and determined just how much PEI real estate you can afford. This will create a budget for your PEI real estate search and will ensure that you don’t waste time or fall in love with a PEI real estate listing that you can not afford and it also gives weight to your offer when you find the PEI property that you want to offer on.

Determining property features and finding PEI Real Estate that meets your requirements.

With your finances in order Don will have you make two lists, those features of your new PEI home that are “must haves” and a second list of “would be nice” features. With these in hand Don will search for PEI real estate listings through the MLS system that meet your needs. He will create a short-list of those PEI home and properties that you should visit. You should also check through the internet to establish some knowledge of what is available on the PEI real estate market.

You will begin to visit PEI home on the list and Don suggests that after you see 3 PEI real estate listings that you eliminate at least one. In this way as you see more PEI homes you short-list by removing one from your list. Ulltimately you will have the best two PEI properties on your list and then it is a matter of choosing between them.

You’ve found the PEI Real Estate listing that ticks all the boxes!

Now the hard work begins to secure the purchase of the PEI real estate listing that you have chosen and to get it at the right price. Don suggests avoiding emotional connection with the property as much as possible because should the vendors not negotiate a price you can accept it will be easier to walk away. Generally a fair market offer on any PEI real estate listing is based on comparables, similar PEI real estate that has sold in the area. Don will write your offer and it will be presented to the sellers. They may accept it, reject it, or counter-offer. It is common in negotiating on PEI real estate (as indeed in any real estate market) that there will be a counter-offer. Once again you are free then to accept, reject or counter. So it goes until either a deal is reached or the attempt is abandoned.

Once a deal is reached the rest of the process is carried out by your lawyer. You will need a lawyer with PEI real estate experience working for you. They will perform what is called conveyancing. They will search title, determine the pro-rated portions of oil, taxes etc that you will owe the vendor, as well as preparing the final documents etc. You sign and pick up the keys!>

There is a strong rental market on PEI. Many islanders rent their homes and if well treated as tenants they tend to stay for long tenancies. When investing in PEI real estate for rental purposes you should keep in mind the budgets that most renters will be working within. Basically make sure you are buying PEI real estate property that will be priced to allow for less expensive rentals. It is not that the there are not people who will rent larger more expensive PEI homes but they are harder to find. You should purchase PEI real estate in the range of $50,000-100,000 when you are considering becoming a landlord. As you can see from the previous table of home prices even in the lower end of the national real estate values it is possible to extract sufficient equity to make a PEI real estate purchase in this price range after you have bought the PEI home that you will live in.

If the average PEI home purchased for rental and as an investment in PEI real estate were to rent from $500 plus utilities to $800 including utilities then you would be at approx $300 to $400 per month added to your income. In addition you are building equity in the final sale of your PEI real estate holdings. You might consider it possible to add $5 per thousand dollars of investment equity to your retirement income by this means. Before embarking on such a program you should contact a licensed PEI real estate agent such as Don Murphy and Century21 for more information as this is just a basic outline of what the PEI real estate market and an investment in PEI real estate may be able to do for you.

The PEI real estate market tends to be split into 2 categories. There is the local market, which consists of permanent residents looking for family homes and then there is the recreational market, consisting in large measure of summer visitors looking to combine vacation and real estate investment. There are however several other categories of PEI real estate purchaser. There is the retiree coming to PEI for the lower PEI real estate prices and the PEI real estate investor who purchases starter homes to rent to fellow islanders. There is also room to combine these ideas into one and move to Prince Edward Island when you retire using the equity in your current home to fund a PEI real estate purchase that is a mix of personal PEI home and investment rentals.

Should you decide to follow this route and you own a home in an area of higher real estate prices such as Toronto or Vancouver where the average prices can be around $400,000 and up, you would be looking for a primary PEI home in the $200,000 range plus the purchase of 3-4 rental homes which would account for the rest of your equity. In this way you have split up your PEI real estate investment into half for personal use and the other half to bring in an income which could be in the range of $2000+ per month. As you can see a PEI real estate investment such as this would provide a place to live and an additional income.

PEI also known as the “Gentle Island” is home to a well developed tourist industry and our population increases to over a million in summer from 140,000 year round residents. Residents and visitors alike purchase cottages and summer homes in the country and the PEI real estate market has a good inventory of suitable recreational properties for personal use as well as rental. Some PEI realtors as well as specialty companies offer property management services to look after your PEI real estate investment both in season, caring for the needs of your guests as well as maintaining your PEI property during the winter. Some will also help to market your PEI recreational property and find guests to rent to.

As alluded to earlier PEI real estate affords some of the best value in Canada and the US. When compared with similar property elsewhere PEI real estate, particularly waterfront real estate is a great bargain. PEI real estate waterfront properties are a prime investment opportunity and is the sector in our PEI real estate market that over the last 5 years has posted the greatest gains. Waterfront property is comparatively plentiful here as well as being available oceanfront, on riverways, and situated on bays and inlets. As such PEI waterfront real estate has a variety of characters.

CONTACT ME

Got a Question about the PEI Real Estate Market?

donm@century21pei.com

(902) 853-5036

CENTURY21 Northumberland Realty

629 Water Street East,
Summerside, PE
C1N4H8

Toll-Free: 1-888-701-0021
Direct: (902) 853-5036
Office: (902) 436-2265