The $378,450 price tag on the median Wells home means that it is quite highly priced by Canadian standards.
If you’re looking at investment properties in Wells, then you’re most likely to find homes with 3 bedrooms on sale this month.
There are 359 neighbourhoods that have more properties on sale than Wells at the moment in British Columbia which puts the neighbourhood bottom 40% when looking at the number of properties to choose from.
Can we guarantee how well Wells 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 Wells, the amount of stock on the market has increased which is a negative indicator for house prices. Three months ago there were 5, this month we show 6.
There are a number of important pieces of research you should do before deciding where to buy an investment property – this data for Wells will hopefully provide an indicator to help you where to research in-depth
Because the amount of real estate listed for sale has stayed the same it looks like housing market forces in neighbourhood are likely to not necessarily affect house prices.