Canada’s national median home listing price this month is $290,900, which means that Murray River is in the cheapest 20% for Canada.
When our research team crunched the numbers we calculated that Murray River has a median home price of $102,450.
Prince Edward Island has the fourth least amount of properties available to property investors, with Murray River having 22th most in the province, out of a total of 218.
As one of Prince Edward Island’s many potential real estate investment neighbourhoods, Murray River 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.
Because the amount of real estate listed for sale has decreased it looks like housing market forces in neighbourhood are likely to put upwards pressure on house prices.
Across the country as a whole, Murray River is in the top 20% when all of Canada’s suburbs are listed in order of real estate listing prices.
With Murray River’s median house price at $637,500 in Aug , it is high priced compared to the rest of Prince Edward Island.
According to our stats, Murray River is the neighbourhood that has the 8th most properties available to real estate investors in Prince Edward Island.
There are a number of important pieces of research you should do before deciding where to buy an investment property – this data for Murray River will hopefully provide an indicator to help you where to research in-depth
The amount of homes for sale in neighbourhood has stayed the same over the last three months – this means that supply and demand economics would mean that the pressure on house prices has also remained constant.