Across the nation CREW lists data for 5162 neighbourhoods, and this month Spruce Grove is number 814 putting it ahead of most neighbourhoods .
In Aug the median listed house price of $389,900 in Spruce Grove was an above average compared to the rest of Alberta.
From our data, it appears that neighbourhood is number 104th when comparing neighbourhoods by the number of properties available to investors across the nation, putting it in the top 10.
Will prices rise across the next year in in Spruce Grove? There are a number of real estate indicators to consider.
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 Spruce Grove have dried up which would tend to indicate that demand is higher than the supply of new properties.
Last month, Spruce Grove was Canada’s 179th priciest – this month at number 179 it’s dropped -125 While month on month that number shouldn’t matter too much, as fluctuation is common, it’s worth checking back regularly to see whether the deterioration continues.
When our research team crunched the numbers we calculated that Spruce Grove has a median home price of $318,000.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have fewer bedrooms than the most commonly available across the nation.
Alberta has the fourth most amount of properties available to property investors, with Spruce Grove having 9th most in the province, out of a total of 99.
When we look at the data we have, it can help with trying to establish whether or not Spruce Grove is a good investment target.
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.