With a median listing price of $161,250, Somerville is Canada’s 3673th most expensive when ordered by median listing price.
In Aug the median listed house price of $161,250 in Somerville was an above average compared to the rest of New Brunswick.
Is Somerville 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 Somerville there is more stock than three months ago. This would indicate pressure on prices easing.
Across Canada the most common number of bedroom property being listed has 2 bedrooms, in Aug this neighbourhood’s most common listing the same as the national average.
As one of New Brunswick’s many potential real estate investment neighbourhoods, Somerville 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 stayed the same it looks like housing market forces in neighbourhood are likely to not necessarily affect house prices.