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.
Normanby Home Price
When looking across the province, Normanby is the 449th most expensive in Ontario.
The $341,950 price tag on the median Normanby home means that it is above the cost of most houses in the country.
This month we track 990th neighbourhoods in Ontario, and Normanby has the 990th most choice available for real estate investors.
Can we guarantee how well Normanby 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.
In Normanby, housing stock has stayed the same over the last three months, which would tend to mean that home supply and demand are equal.
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.
When we look at the data we have, it can help with trying to establish whether or not Normanby is a good investment target.
Over the last three months in Normanby, housing stock available seems to be staying constant – this could mean that homes values might not be hugely affected by supply constraints.
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