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.
Northeastern Manitoulin and the Islands Home Price
Canada’s national median home listing price this month is $290,900, which means that Northeastern Manitoulin and the Islands is in the bottom 40% for Canada.
The median house price listed in Northeastern Manitoulin and the Islands this month is $183,950.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have fewer bedrooms than the most commonly available across the nation.
Across Ontario Northeastern Manitoulin and the Islands has the 784th most properties on offer with 1145.
Will prices rise across the next year in in Northeastern Manitoulin and the Islands? There are a number of real estate indicators to consider.
It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Northeastern Manitoulin and the Islands have dried up which would tend to indicate that demand is higher than the supply of new properties.
It’s never an exact art, but to try to forecast how property is going to appreciate in Northeastern Manitoulin and the Islands 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 Northeastern Manitoulin and the Islands 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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