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.
Oxbow Home Price
The median asking price in Oxbow is $249,000, pretty close to the median three months ago which was $259,000 .
The $249,000 price tag on the median Oxbow home means that it is about average price.
Across Canada the most common number of bedroom property being listed has 3 bedrooms, in Aug this neighbourhood’s most common listing has properties with fewer bedrooms.
Can we guarantee how well Oxbow 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.
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 Oxbow, the amount of stock on the market has increased which is a negative indicator for house prices. Three months ago there were 19, this month we show 26.
Will prices rise across the next year in in Oxbow? There are a number of real estate indicators to consider.
The amount of homes for sale in neighbourhood has stayed the same over the last three months – this means that supply and demand economics would mean that the pressure on house prices has also remained constant.
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