When our research team crunched the numbers we calculated that Morell has a median home price of $139,900.
There are 218 neighbourhoods that have more properties on sale than Morell at the moment in Prince Edward Island which puts the neighbourhood in the top 20% when looking at the number of properties to choose from.
Will prices rise across the next year in in Morell? There are a number of real estate indicators to consider.
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.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have the average number of bedrooms than the most commonly available across the nation.
It’s never an exact art, but to try to forecast how property is going to appreciate in Morell for investors, it’s important to look at data like:
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Morell there is about the same amount of stock than three months ago. This would indicate housing stock pressure remaining the same.