Woody Point was Canada’s 4388th most expensive suburb by listed median house price this month.
While the median for Newfoundland and Labrador is $209,000 , which means that Woody Point’s median price is $124,500 a lot lower than the rest of the province.
Newfoundland and Labrador has the second least amount of properties available to property investors, with Woody Point having 138th most in the province, out of a total of 197.
When we look at the data we have, it can help with trying to establish whether or not Woody Point is a good investment target.
In Woody Point, housing stock has stayed the same over the last three months, which would tend to mean that home supply and demand are equal.
As one of Newfoundland and Labrador’s many potential real estate investment neighbourhoods, Woody Point 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.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Woody Point there is about the same amount of stock than three months ago. This would indicate housing stock pressure remaining the same.