Canada’s national median home listing price this month is $290,900, which means that Labrador City is close to average for Canada.
The median house price listed in Labrador City this month is $229,450.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have fewer bedrooms than the most commonly available across the nation.
There are 197 neighbourhoods that have more properties on sale than Labrador City at the moment in Newfoundland and Labrador which puts the neighbourhood in the top 20% when looking at the number of properties to choose from.
Is Labrador City a good investment prospect? It’s never a perfect science, but the data we have given us a number of indicators.
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 Labrador City, the amount of stock on the market has increased which is a negative indicator for house prices. Three months ago there were 22, this month we show 30.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have the average number of bedrooms than the most commonly available across the nation.
As one of Newfoundland and Labrador’s many potential real estate investment neighbourhoods, Labrador City needs to be carefully researched before investing in – and remember to check especially the locations within an area before spending - the old estate agent’s mantra of location, location, location has never lost its importance.
It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Labrador City have stayed pretty much the same which would tend to indicate that demand is steady.