Mersey Point was Canada’s 925th most expensive suburb by listed median house price this month.
In Aug the median listed house price of $369,000 in Mersey Point was an impressive compared to the rest of Nova Scotia.
There are 825 neighbourhoods that have more properties on sale than Mersey Point at the moment in Nova Scotia which puts the neighbourhood bottom 40% when looking at the number of properties to choose from.
It’s never an exact art, but to try to forecast how property is going to appreciate in Mersey Point for investors, it’s important to look at data like:
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 Mersey Point have dried up which would tend to indicate that demand is higher than the supply of new properties.
Is Mersey Point 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 Mersey Point there is about the same amount of stock than three months ago. This would indicate housing stock pressure remaining the same.