Experts have indicated Canada will need to build millions more homes in the next 10 years to meet our growing needs. To the casual observer the problem is easy to solve: just build more homes. For those in the real estate development field, the problem is much more complicated than this.
Dummer Home Price
Across the nation CREW lists data for 5162 neighbourhoods, and this month Dummer is number 756 putting it ahead of most neighbourhoods .
In Aug the median listed house price of $399,450 in Dummer was an above average compared to the rest of Ontario.
In province, the most common property on the listings this month has 3 bedrooms, in this neighbourhood it’s 4.
There are 1145 neighbourhoods that have more properties on sale than Dummer at the moment in Ontario which puts the neighbourhood bottom 40% when looking at the number of properties to choose from.
As one of Ontario’s many potential real estate investment neighbourhoods, Dummer 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.
If you are looking at investment properties in Dummer, then there are fewer homes for sale than there were three months ago. This would indicate that house prices will be influencing it towards being a sellers market.
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.
Can we guarantee how well Dummer is going to do next year? No, but we can look at the data we have and use it as a starting point before doing research.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Dummer there is about the same amount of stock than three months ago. This would indicate housing stock pressure remaining the same.
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