Across the country as a whole, Algoma is in the Top 40% when all of Canada’s suburbs are listed in order of real estate listing prices.
While the median for Ontario is $349,900 , which means that Algoma’s median price is $289,900 better than average than the rest of the province.
Algoma’s most common listing this month is 3 bedroom properties, less than province’s most common offering of 2 bedrooms.
There are 1145 neighbourhoods that have more properties on sale than Algoma at the moment in Ontario which puts the neighbourhood bottom 40% when looking at the number of properties to choose from.
It’s never an exact art, but to try to forecast how property is going to appreciate in Algoma for investors, it’s important to look at data like:
If you are looking at investment properties in Algoma, then there are about the same homes for sale than there were three months ago. This would indicate that house prices will be influencing it towards being a steadily priced.
As one of Ontario’s many potential real estate investment neighbourhoods, Algoma 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 Algoma there is about the same amount of stock than three months ago. This would indicate housing stock pressure remaining the same.