Across the nation CREW lists data for 5162 neighbourhoods, and this month Chance Cove is number 3482 putting it in the bottom half of the country .
While the median for Newfoundland and Labrador is $209,000 , which means that Chance Cove’s median price is $169,900 below average than the rest of the province.
According to our stats, Chance Cove is the neighbourhood that has the 98th most properties available to real estate investors in Newfoundland and Labrador.
Can we guarantee how well Chance Cove is going to do next year? No, but we can look at the data we have and use it as a starting point before doing research.
One of the important leading indicators for property investors is whether the amount of stock on the market is increasing or decreasing – as more comes on buyers have more choice so prices can tend to drop. In Chance Cove, the amount of stock on the market has increased which is a negative indicator for house prices. Three months ago there were 2, this month we show 3.
There are a number of important pieces of research you should do before deciding where to buy an investment property – this data for Chance Cove will hopefully provide an indicator to help you where to research in-depth
Because the amount of real estate listed for sale has stayed the same it looks like housing market forces in neighbourhood are likely to not necessarily affect house prices.