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.
Magnetawan Home Price
With a median listing price of $349,000, Magnetawan is Canada’s 1063th most expensive when ordered by median listing price.
The $349,000 price tag on the median Magnetawan home means that it is above the cost of most houses in the country.
Magnetawan’s most common listing this month is 3 bedroom properties, less than province’s most common offering of 3 bedrooms.
This month we track 232th neighbourhoods in Ontario, and Magnetawan has the 232th most choice available for real estate investors.
When we look at the data we have, it can help with trying to establish whether or not Magnetawan is a good investment target.
One of the important leading indicators for property investors is whether the amount of stock on the market is increasing or decreasing – as more comes on buyers have more choice so prices can tend to drop. In Magnetawan, the amount of stock on the market has decreased which is a positive indicator for house prices. Three months ago there were 41, this month we show 33.
As one of Ontario’s many potential real estate investment neighbourhoods, Magnetawan 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.
In Magnetawan, housing stock has stayed the same over the last three months, which would tend to mean that home supply and demand are equal.
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