Canada’s national median home listing price this month is $299,900, which means that Maddox Cove is in the top 20% for Canada.
With Maddox Cove’s median house price at $410,000 in Jan , it is high priced compared to the rest of Newfoundland and Labrador.
Newfoundland and Labrador has the third least amount of properties available to property investors, with Maddox Cove having 108th most in the province, out of a total of 147.
Is Maddox Cove a good investment prospect? It’s never a perfect science, but the data we have given us a number of indicators.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Maddox Cove there is less stock than three months ago. This would indicate home price pressure increasing as housing stock availability drops.
When we look at the data we have, it can help with trying to establish whether or not Maddox Cove is a good investment target.
In Maddox Cove, housing stock has stayed the same over the last three months, which would tend to mean that home supply and demand are equal.