Across the country as a whole, Elk Point is in the Top 40% when all of Canada’s suburbs are listed in order of real estate listing prices.
While the median for Alberta is $375,000 , which means that Elk Point’s median price is $282,000 better than average than the rest of the province.
Across Canada the most common number of bedroom property being listed has 3 bedrooms, in Aug this neighbourhood’s most common listing has properties with fewer bedrooms.
There are 339 neighbourhoods that have more properties on sale than Elk Point at the moment in Alberta which puts the neighbourhood top 40% when looking at the number of properties to choose from.
Will prices rise across the next year in in Elk Point? There are a number of real estate indicators to consider.
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 Elk Point, the amount of stock on the market has increased which is a negative indicator for house prices. Three months ago there were 26, this month we show 34.
When we look at the data we have, it can help with trying to establish whether or not Elk Point is a good investment target.
Over the last three months in Elk Point, housing stock available seems to be staying constant – this could mean that homes values might not be hugely affected by supply constraints.