The median asking price in Providence Bay is $189,000, less than the median three months ago which was $207,000 .
The $189,000 price tag on the median Providence Bay home means that it is below the national norm.
As one of Ontario’s many potential real estate investment neighbourhoods, Providence Bay 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.
The amount of homes for sale in neighbourhood has fallen over the last three months – this means that supply and demand economics would mean that the pressure on house prices has also grown.
Is Providence Bay a good investment prospect? It’s never a perfect science, but the data we have given us a number of indicators.
Over the last three months in Providence Bay, housing stock available seems to be staying constant – this could mean that homes values might not be hugely affected by supply constraints.