With a median listing price of $135,000, Norris Point is Canada’s 4205th most expensive when ordered by median listing price.
In Aug the median listed house price of $135,000 in Norris Point was relatively low compared to the rest of Newfoundland and Labrador.
In province, the most common property on the listings this month has 3 bedrooms, in this neighbourhood it’s 3.
When we look at the data we have, it can help with trying to establish whether or not Norris Point is a good investment target.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Norris Point there is more stock than three months ago. This would indicate pressure on prices easing.
As one of Newfoundland and Labrador’s many potential real estate investment neighbourhoods, Norris Point 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.
Over the last three months in Norris Point, housing stock available seems to be staying constant – this could mean that homes values might not be hugely affected by supply constraints.